Peru: Agriculture sector to expand this year, BCR estimates

The agriculture sector will grow this year leading to a positive GDP contribution thanks to the "relatively moderate" effects of El Niño climate phenomenon, the President of Peru's Central Reserve Bank (BCR), Julio Velarde affirmed.

 

He said the phenomenon takes place during Winter season, when temperatures are low. This leads to a non-strong impact on the fishing sector and the coastal area.

 

"The agricultural sector will experience growth [...]," he told.

 

According to the BCR President, only some crops, such as quinoa, could be affected during the season.

 

Last year, rice production fell by 6% due to a rain delays; however, it is expected to grow by 8% this year. This product will "not be affected by El Niño," Velarde said.

 

"The coffee output is starting to recover. We estimate it will grow by over 10% this year, compared to 2014," he told.

 

In April, 2015, the agriculture sector decreased by 2.22%, in comparison with the same period the previous year due to a lower agricultural production (-5.76%) because of climate factors, the National Institute of Statistics and Informatics (INEI) announced on Monday.