Asociación de Exportadores (ADEX) building

Fishmeal exports fall 38.6% due to coronavirus impact

PERU
Thursday, March 05, 2020, 05:30 (GMT + 9)

Peruvian exports totaled USD 3668 million in January, a 4% drop from the same month last year when the amount amounted to USD 3822 million. In general terms, this start is very similar to that of 2019, which also began  with a 3.8% drop, reports the Association of Exporters  (ADEX).

The traditional offer amounted to USD 2,44 million (contraction of 5.4% and a share of 67%) and the non-traditional generated USD 1227 million (1.1% drop and a 33% share).

Peru's exports (traditional and non-traditional) reached 124 destinations, seven less than in January last year. The main markets were China (26.3 % share), US, Canada, South Korea, Switzerland, India, Chile and the United Arab Emirates.

Photo: TASA ►

In ADEX's opinion, the coronavirus factor explains part of these results, since China is the first export market and last January bought 16% less compared to January 2019. The fall is concentrated in fishmeal (-38.6% ) and in minerals (-10.7%).

With respect to non-traditional exports to the Asian country, these fell by 3.7%, largely explained by lower exports of agricultural food (-3%). January is a single month of the twelve, therefore, it is very risky to draw conclusions for the year. What does remain a constant is the loss of competitiveness in the industrial sector.

Traditional

Among the sectors which export traditional products, the fishery industry suffered a 27.9% drop - as expected it would be impossible to replicate the high levels of anchovy catches  last year.

►El Callao port

Non-traditional

On the other hand, non-traditional exports (USD 1227 million), which started 2019 with a growth of 10%, experienced a slight drop of 1.1% in January 2020.

The Fisheries for Direct Human Consumption (CHD) subsector exported for USD 89.9 million - up 4.5% - and its main items were frozen giant squid (pota), fish fillets, prepared or canned giant squid, frozen whole shrimp and shell-on shrimp tails, among others.

Monthly evolution

ADEX notes that with respect to the monthly evolution of the last 12 months (February 2019-January 2020), the fall of January (-4%) was the sixth most worrying. As for primary shipments (-5.4%) it was the seventh worst and in the case of non-traditional (-1.6%) it was the fifth.

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