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The grounds for growth are prepared

   Aug 01, 2019
Credit : GMI Post

Land of the Sun. Cradle of Civilization. Land of Bounty. Peru has been described in various ways, each of them reflecting a significant aspect of its geography and history. Bound by the Amazon river in the east, the Pacific Ocean in the west, and traversed by the Andes from north to south, Peru is Among the most resource-abundant countries in the Pan American region.

In terms of agriculture, Peru has a huge advantage over its neighbors because the versatility of its terrain and diversity of microclimates – mountains, jungles, farmlands – allows it to grow a wide range of crops. The country has become especially well-known for its avocados, limes, oranges, asparagus and potatoes.

Despite having a lot of fertile land, Peru’s agricultural sector was not diverse as it is now. Until 20 years ago, there was no locally-grown asparagus. Today, the country is among the world’s leading exporter of asparagus.

This year itself, the country is forecast to export about 335,000 tons of Hass avocado, making it the third-largest global avocado exporter after Mexico and Guatemala, according to Daniel Bustamante Canny, President of the Association of Hass Avocado Producers of Peru (ProHass).

The impressive growth of Peru’s economy is attributed to the government’s acknowledgment that the country must be fully engaged with the world economy and sell its goods to as many markets possible if the economy is to continue growing.

The deregulation of its industries in the 1990s was very beneficial because of the resulting influx of foreign investment, which saw new businesses and more infrastructure projects mushroom across the country. That openness is the widely accepted reason for a decade-long run of economic growth, a feat that has remained unrivalled by its Latin American neighbors.

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