March 23, 2006

Peru's soybean meal imports to reach 685,000 tonnes in 2006

Peru's soybean meal imports are expected to reach 685,000 tonnes in 2006, according to USDA's Mar 9 report on Peru's oilseeds and products. 

The figure is about 2 percent higher than in 2005, which stood at 670,560 tonnes. Paraguay was the leading soybean meal exporter to Peru in 2005 with 306,812 tonnes. Argentina was next in line with 290,818 tonnes, followed by Bolivia with 65,588 tonnes.

On Jan 1, 2007, the US-Peru Trade Promotion Agreement will grant duty free entrance to US soybeans and soybean meal into Peru.

USDA estimates Peru's fishmeal production for 2006 to be 1.95 tonnes, a slight increase from 1.91 tonnes in 2005. Local fishmeal consumption is considerably low, accounting for 3-5 percent of total production. Consumption of fishmeal in 2006 is forecast at about 60,000 tonnes.

For the full USDA report, click here.