Peru to possibly substitute for Russian boycot products

Peru to possibly substitute for Russian boycot products
Friday August 29, 2014
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Due to conflicts the Russian government decided not to import meat, fish, fruit, vegetables and dairy products from various countries including the European Union, the United States and Australia. For Peru this is a great chance. Head of the Foreign Trade Center of Lima’s Chamber of Commerce, Carlos Garcia, is eager to introduce non-traditional products to the powerful Russia.

Garcia estimates the total value of Peruvian products with potential demand in Russia at $458 million. Most interesting products are grapes, avocados, mandarins, oranges, peaches and blueberries. Hake and giant squid are also popular. As a consequence of the trading bans imposed by Russia, prices for these Peruvian goods have already “gone up by $70 per metric ton in just a few days” reports Undercurrent News.

The potential growth in export will generate more jobs, technological development, higher salaries and greater decentralization,” says Garcia. Russia is a big country so the potential demand would be great for providers in Peru.

“Apart from Peru this will also benefit other countries such as Argentina, Brazil and Uruguay,” stated Garcia. As he explained, “Russia was purchasing a third of the meat and dairy produced by the European Union” but now that that partnership has fell through, “leading South American countries in these sectors have already started working” in order to fill the vacancy.

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