AGP Executive Report

Blueberry Exports: Peru has cut its 2026–27 export forecast to 366,000 metric tons, 4.4% below last season, as El Niño accelerates crop development and reduces yields. Shipments over the next eight weeks are expected to fall 31% year on year. Economic Outlook: The IMF raised its 2026 growth forecast for Peru to 3%. Private investment rose 15.5% in the first half of the year, while exports are projected to reach $100 billion in 2026. Governance: Corruption complaints doubled between 2018 and 2025, reaching 10.9 per 1,000 public employees, according to a study by the Peruvian Institute of Economics; the increase may reflect both more reporting and more alleged misconduct. Trade and Energy: The Port of Callao and PortMiami signed an agreement to strengthen maritime trade, while a regulatory milestone has moved a Peruvian oil and gas block closer to approval.

Ports and Trade: Callao and PortMiami have signed an agreement to strengthen maritime trade between Peru and the United States, as investors from India, the U.S. and China eye a proposed $844 million port project in Peru. Agribusiness: Peru expects blueberry exports to reach a record 412,500 tons this year, though El Niño threatens yields and quality. Investment and Growth: Private investment rose 15.5% in the first half of 2026, while exports are forecast to reach $100 billion this year; Peru’s economy grew 3.6% in July, with similar growth expected in August. Tourism: BTS concerts in Lima drew more than 150,000 fans, with tourism revenue projected at $58.4 million.

Port Investment: Peru’s proposed $844 million Corio port in the south has drawn interest from US, Chinese and Indian investors. The project could handle larger ships than Chancay and support mineral exports. Mining Finance: A US$3.5 million equity and royalty package will fund completion of Nativo Resources’ La Patona gold plant, with production targeted for the second quarter of 2027. Cerro de Pasco Resources also won rights to reprocess Quiulacocha tailings, potentially recovering critical minerals while addressing a legacy mining site. Agro-exports: Peru expects blueberry exports to reach about 412,500 tonnes this year, but falling prices are weighing on value; analysts warn global production is growing faster than demand. Economic Outlook: The Finance Ministry says private investment rose 15.5% and exports could reach US$100 billion in 2026. A separate bill proposes raising the consumption tax rate fivefold, to 5%.

Agribusiness: Peruvian palm oil producer Ocho Sur secured USDA Organic and Japan Organic certifications for 2,234 hectares in Ucayali, opening access to more international buyers. Mining: Cerro de Pasco Resources won a public auction for the Quiulacocha tailings, a step toward reprocessing the material; final agreements are still pending. Economy: Peru’s private investment is up 15.5%, and exports are forecast to reach US$100 billion in 2026. The economy grew 3.6% in July, with August growth expected to be similar, while the fiscal deficit held at 1% of GDP. Agriculture: A weaker blueberry outlook and reduced Peruvian supply are creating opportunities for Chilean exporters, despite strong early-season shipments from Peru. Tourism: Peru won six World Travel Awards, including South America’s Leading Destination for the fourth year running and Leading Nature Destination for the first time.

Tourism & Aviation: BTS’s first Peru concerts drew about 151,500 fans to Lima, while Airport Dimensions opened a 374-seat lounge at Jorge Chávez airport, adding capacity for international travelers. Mining: Codrus Minerals completed its acquisition of the Tiquihua project in Ayacucho and sent rock samples for testing; results are expected later this month. King Copper has also chosen a contractor for its first drilling program at Colquemayo. Investment & Trade: Peru’s finance ministry says private investment rose 15.5%, with exports forecast to reach US$100 billion in 2026. A new Peru–El Salvador business deal aims to expand trade, while Peru’s private free zones are courting Korean companies. Economic Outlook: Peru’s economy was expected to grow at a pace similar to July’s 3.6% in August. The fiscal deficit held at 1% of GDP, its lowest level since June 2022. A possible cancellation of the second anchovy season amid El Niño poses a risk to the fishing industry.

Digital Gaming: Zitro Digital has expanded in Peru through a Betmaster.pe partnership, bringing its online game portfolio to the regulated market. Tourism: BTS’s three Lima concerts drew about 155,000 fans and are projected to generate roughly US$19 million in tourism benefits. Investment and Trade: Peru’s MEF says private investment rose 15.5%, with exports forecast to reach US$100 billion in 2026; a new Peru–El Salvador business agreement also aims to open trade opportunities. Economic Outlook: Peru’s economy is expected to have grown at a pace similar to July’s 3.6% in August, while the fiscal deficit held at 1% of GDP, its lowest level since June 2022. Business Risks: El Niño could threaten the anchovy fishing season, while reports highlight China’s expanding role in Peru’s electricity infrastructure. Agriculture: Peruvian blueberry exporters are widening their markets and extending the supply season.

Investment and Trade: Peru’s Economy Ministry says private investment rose 15.5%, exports are forecast to reach US$100 billion in 2026, and GDP is projected to grow 3.4% this year and next. Tourism: BTS’s three Lima concerts drew about 151,500 fans and are expected to generate roughly US$19 million in tourism benefits, far exceeding the ministry’s visitor forecast. Energy: China Three Gorges expanded its Peruvian electricity holdings, adding Hydro Global Perú to assets that include Chaglla and Luz del Sur. Chinese firms now control about a third of the electricity distribution market, prompting calls for stronger oversight. Business Costs: Peru recorded a 66.7% diesel price increase from February to August, one of the world’s sharpest rises. Fishing: El Niño risks disrupting the anchovy sector, with reports that Peru’s second fishing season may be cancelled.

Fuel Costs: Peru recorded the world’s third-largest diesel price increase from February to August, with prices up 66.7%, UNCTAD reported, adding pressure on households and businesses. Economic Outlook: The World Bank raised its 2026 growth forecast for Peru to 3.2%. The fiscal deficit held at 1% of GDP in August, its lowest level since June 2022, while August growth was expected to match July’s 3.6%. Mining and Trade: Mining exports topped US$42.69 billion in the first half of 2026. A new Peru–El Salvador business deal aims to open trade and investment links, while blueberry exporters are expanding markets and focusing on quality. Tourism: BTS concerts in Peru could generate an estimated US$18.7 million in tourism spending.

Fuel Costs: Peru recorded a 66.7% rise in diesel prices from February to August, the world’s third-largest increase, according to UNCTAD—adding pressure on businesses and household budgets. Economic Outlook: The Central Bank expects August growth to match July’s 3.6%, supported by non-primary sectors, while El Niño is weighing on agriculture, fishing and textiles. It forecasts 3.2% growth for 2026. Public Finances: Peru’s fiscal deficit held at 1% in August, its lowest level since June 2022. Trade and Investment: A new bilateral deal with El Salvador aims to open trade gateways between the countries. Mining exports topped US$42.69 billion in the first half of 2026, while four power-transmission projects worth US$339 million are moving ahead. Fishing Risks: Media reports say Peru’s second anchovy season could be cancelled amid El Niño, threatening a key export industry.

Fiscal Outlook: Peru’s fiscal deficit held at 1% of GDP in August, its lowest level since June 2022, as stronger tax collection partly offset higher spending and debt interest. Trade Links: Peru and El Salvador launched a business bridge to help firms expand across both markets, with franchise support, trade missions and a goal of identifying 20 export-ready companies. Investment: The government inaugurated a US$150 million industrial plant in Cañete, while four power-transmission projects worth US$339 million are set to advance. Exports and El Niño: Fruit and vegetable exports rose 14.9% to US$3.9 billion, but port congestion has delayed some Peruvian fruit shipments; separately, a likely cancellation of the second anchovy season could hit fishmeal supply. Growth: The World Bank raised Peru’s 2026 growth forecast to 3.2%, while the economy ministry sees 3.4% growth despite El Niño risks.

Blueberries: Peruvian exporters are targeting China and longer supply seasons, while shifting from volume toward quality and differentiation. Fishmeal: Peru’s second anchovy season may be canceled amid El Niño, tightening supply; new weekly price assessments for Peruvian fishmeal in China give buyers more market visibility. Growth and Exports: Peru’s economy is forecast to grow 3.4% despite El Niño, and fruit and vegetable exports rose 14.9% to US$3.9 billion. But China port congestion has delayed some Peruvian fruit shipments by up to two weeks. Investment: Oil output exceeded 39,000 barrels a day in September, and Peru is seeking to attract US$250 million through a pipeline of carbon projects.

Industry & Investment: Trützschler expanded its service network in Peru, Colombia and Ecuador to provide faster support to textile mills. Peru’s private free zones are also courting Korean companies, while a new US$150 million industrial plant opened in Cañete. Fishing & El Niño: Peru’s second anchovy season may be cancelled as El Niño keeps the north-central fishery shut. IFFO reports global fishmeal output was down 45% and fish-oil output 26% through August compared with a year earlier, with Peru a major supply source. Growth & Exports: The World Bank forecasts Peru’s economy will grow 3.2% this year; the Finance Ministry projects 3.4%. Mining exports exceeded US$42.69 billion in the first half, fruit and vegetable exports rose 14.9%, and September oil production topped 39,000 barrels a day.

Investment: Peru is courting South Korean companies with privately managed free zones focused on mineral processing and manufacturing, with Chancay port positioned as a supply-chain link. Fishing: A second anchovy season is at risk as warm seas and high juvenile stocks threaten catches; the official assessment is still pending, but a cancellation could affect fishmeal supply. Mining and energy: Mining exports topped US$42.69 billion in the first half of 2026, while four power-transmission projects worth US$339 million are moving ahead. Xali Gold also completed a community workshop ahead of a planned exploration permit application at Pico Machay. Economic outlook: The World Bank raised its 2026 growth forecast for Peru to 3.2%. Oil production exceeded 39,000 barrels a day in September, and a US$150 million industrial plant was inaugurated in Cañete.

Investment: Peru’s president says attracting investment is key to creating jobs, as the government inaugurates a US$150 million industrial plant and advances four power-transmission projects worth US$339 million. Mining and Energy: Mining exports topped US$42.692 billion in the first half of 2026, while September oil production exceeded 39,000 barrels a day. Growth Outlook: The World Bank raised its 2026 growth forecast for Peru to 3.2%; the Finance Ministry projects 3.4% despite El Niño risks. Agriculture and Trade: Fruit and vegetable exports rose 14.9% to US$3.9 billion, but port congestion in China is delaying some Peruvian fruit shipments by up to two weeks.

Fishing and Aquafeed: Peru’s anchovy stock assessment could decide whether fishmeal supplies recover or tighten further, putting pressure on fish processors and aquafeed buyers. Global fishmeal output was down 45% year to date through August, with Peru’s closed season weighing on supply. Mining Investment: Radius Gold has received approval to begin exploration and drilling at its Tierra Roja copper project in Arequipa. Codrus Minerals has also completed its acquisition of the Tiquihua project in Ayacucho. Infrastructure: Peru agreed to advance four power-transmission projects worth US$339 million, while Gilat secured a US$28 million contract to expand connectivity. Growth and Exports: The Finance Ministry projects 3.4% economic growth despite El Niño risks. Fruit and vegetable exports rose 14.9% to US$3.9 billion, though port delays in China are holding up some Peruvian shipments.

Power & Infrastructure: Peru’s Ministry of Energy and Mines signed concession agreements for four major power transmission projects worth US$339 million, aimed at strengthening the grid and benefiting 1.6 million people across Piura, Lambayeque, Junín and Ayacucho. Energy Markets: Chevron is signaling a bigger push on conventional exploration and appraisal, projecting over $1.5 billion in 2026 outlays as it targets new production opportunities. Trade & Logistics: Illinois hosted an international grain tour that included Peru among participating buyers, highlighting how transport links and relationships can support export sales. Tourism & Connectivity: Peru is also moving to boost tourism competitiveness through air connectivity and infrastructure upgrades. Governance & Business Climate: Pressenza’s “Good Governance is a Right” campaign was recognized by Peru’s National Association of Journalists, spotlighting transparency and anti-corruption themes that affect the investment environment. Climate Risk: A developing super El Niño is expected to intensify hunger risks across Latin America, with knock-on effects for food supply chains and costs.