Peruvian Soymeal Imports Rising

WASHINGTON - Mar 6/07 - SNS -- Soybean meal imports by Peru are expected to increase 3% this year to a forecast 800,000 metric tons (MT), according to a recent report from the U.S. agricultural attache for the country.

Total soybean imports in 2006 were 778,868 MT. With 418,764 MT, Paraguay continued to be the leading soybean meal exporter to Peru.

Soybean oil imports are forecast at 330,000 MT in 2007. Imports in 2006 were 303,000 MT. Soy oil consumption in 2006 was 312,000 MT and is expected to continue increasing as Peru's economy improves.

On December 28, 2006, Peru unilaterally eliminated import duties for soybean meal and oil (previously 4% and 12% respectively). This reduction should make U.S. prices somewhat more competitive since it will offset trade preferences granted to other countries in the region.

Total fish catch for reduction (for fishmeal as opposed to human consumption) in 2006 was 5.9 million MT, a considerable drop from the 8.5 million MT from the previous year. This fish catch reduction is the result of a smaller fishing quota granted by the government. Fishmeal production for 2007 is estimated at 1.37 million MT, a slight increase from the 1.34 million MT in 2006.

Fish oil production for 2007 is forecast at 300,000 MT, a slight increase compared to the previous year. Oil extraction is directly related to water temperatures so it can vary significantly from year to year.

Subscribers can read the full text of the article by Clicking here