Boston, MA -- (SBWIRE) -- 02/14/2014 -- We expect headline growth in Peru to remain slightly lower than the previous five-year period. The slowdown in the Chinese economy will hinder the expansion of the country's mining sector, which accounts for around 10% of the Peruvian GDP. A weakening currency and ticking up inflation will weigh on consumer spending over the short term, affecting all consumer sectors, including food and drink. Nevertheless, we maintain a positive longer-term view of Peru's food and drink sector, which will see strong expansion rates and present a number of interesting investment opportunities over the forecast period.
Headline Industry Data
- Per capita food consumption value (local currency) growth (y-o-y) in 2013: +8.77%; compound annual growth rate (CAGR) to 2017: +8.20%;
- Alcoholic drinks value sales (local currency) growth (y-o-y) in 2013: +6.19%; CAGR to 2017 = +6.13%;
- Soft drinks value (local currency) sales growth (y-o-y): +7.02%; CAGR to 2017: +6.92%;
- Mass grocery retail value (local currency) sales growth (y-o-y): +10.30%; CAGR to 2017: +9.72%.
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Key Industry Trends And Developments
In November 2012 statements made to Olive Oil Times by the Peruvian Pro Olivo Association indicated that local producers of olive oil had been affected by imports of subsidised Spanish olive oil inflows into Peru. As a result, Pro Olivo has applied to 'Peru's National Institution for Competition Defense and Intellectual Property Protection (Indecopi) for an extension of countervailing duties on Spanish olive oil imports', according to the source.
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