Latin American Ag Sector Sees Boon from Ties with China
Latin America’s agricultural sector, which over the past decade has benefited from rising consumer demand in China, is expected to increase and diversify its exports to the Asian giant, according to an article on HellenicShippingNews.com.
Experts in the sector agree China’s growing appetite for imported goods has been essential in creating opportunities for the development of rural zones and new production processes.
Latin America and the Caribbean are key suppliers of food for the Chinese market, and will continue to increase their supply, according to Manuel Otero, director general of the Inter-American Institute for Cooperation on Agriculture (IICA).
“Our region already accounts for nearly a third of China’s food imports. Over the past 10 years, Latin America and the Caribbean’s agrifood exports to China increased from 5.6 percent of the total to 13 percent, a trend that is mainly explained by the increase in shipments to China from the Southern Cone,” Otero said.