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Driven by Chinese demand, exports of cherries and blueberries beat record

InvestChile - October,23,2018

According to official data, the main destinations for products of this type are China, Taiwan, Hong Kong and the United States.

CEREZAS

Although copper continues to be recognized as Chile’s main export, new products have gradually been gaining ground in international markets. According to the latest Monthly Foreign Trade Minute, published by the General Directorate of International Economic Relations (DIRECON) and the ProChile export promotion agency, this is the case of exports from the agricultural and fishing sectors.

Products of this type are, indeed, heading towards historic levels after totaling US$5,425 million in the first nine months of this year, up by 14% on a year earlier.

“The sector is led by fruit exports which reached a record US$4,791 million and accounted for 88% of the country’s agricultural and fishing exports,” states the report.

ProChile indicated that exports of cherries reached US$856 million, which implied annual growth of 187%, while blueberries rose by 39% to US$485 million and plums by 15% to US$158 million. At US$183 million, exports of vegetable seeds also stood out.

According to the report, the main destinations for products of this type were China (US$771 million), Taiwan (US$17 million), Hong Kong (US$15 million) and the United States (US$14 million).

Industrial exports also rise

Industrial exports also posted record figures to September, reaching US$21,662 million and accounting for 38% of total exports. 

Food exports stood out at US$7,425 million, with an annual expansion of 12%, led by record performances for salmon (US$3,314 million), mollusks and crustaceans (US$570 million), fish oil (US$111 million) and poultry meat (US$267 million). 

Global figures

According to ProChile, non-copper exports, at US$29,751 million, were the highest ever for the first nine months of the year and were up by 14% on a year earlier. 

Copper exports reached US$27,195 million, which represented a 14% annual increase, explained by higher copper prices which, through to September, averaged US$3.01.

As a result, total exports marked a new record for the first nine months, totaling US$56,946 million, and their growth of 14% over the same period in 2017 was the highest since 2013. 

Would you like to know more about investment opportunities in the food industry? Read this article.

Source: Diario Financiero

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Topics: Food Industry- international trade- China- Fruits

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