AGP Executive Report

Investment & Trade: Peru’s private investment rose 15.5%, and the MEF expects exports to reach US$100 billion this year. Exports already topped US$74 billion from January to August, up 34% year on year. Energy Costs: Diesel prices jumped 66.7% between February and August, one of the world’s steepest increases, adding pressure on businesses and transport operators. Power Sector: China Three Gorges expanded its Peruvian electricity holdings, renewing calls for stronger oversight as Chinese firms gain a larger role in generation and distribution. Fisheries: A possible cancellation of Peru’s second anchovy season amid El Niño threatens fishmeal supply, while weather disruptions are also forecast to cut table-grape volumes by 9%. Agriculture: Peruvian blueberry exporters are expanding into new markets as the sector shifts toward quality and product differentiation.

Energy Costs: Peru recorded the world’s third-largest diesel price increase, at 66.7%, from February to August, adding pressure on businesses and transport. Economic Outlook: August growth was expected to match July’s 3.6%, though El Niño is slowing agriculture, fishing and textiles. Trade & Mining: Exports topped US$74 billion from January to August, up 34%; mining exports reached US$42.7 billion in the first half. Investment: Four power-transmission projects worth US$339 million are set to advance, while a new US$150 million industrial plant has opened in Cañete. Fisheries: El Niño could lead to cancellation of Peru’s second anchovy season, threatening fishmeal supply.

Energy Costs: Peru’s diesel prices climbed 66.7% from February to August, the world’s third-largest increase, raising costs for businesses. Economic Outlook: The central bank expects August growth to be similar to July’s 3.6%, but says El Niño is slowing agriculture, fishing and textiles; its 2026 growth forecast is 3.2%. A possible cancellation of the second anchovy season adds to risks for fisheries. Trade and Agribusiness: Exports topped $74 billion in January–August, up 34%. Fruit and vegetable exports rose 14.9% to $3.9 billion, though blueberry exporters expect lower volumes and grape shipments face weather disruption. Investment: Mining exports reached $42.69 billion in the first half, while four power-transmission projects worth $339 million are moving ahead.

Fisheries: Peru’s second anchovy season may be cancelled amid El Niño, tightening fishmeal supplies already forecast near a decade low. UCN has expanded price assessments to cover Peruvian fishmeal. Trade & Agriculture: Exports topped US$74 billion from January to August, up 34%. Fruit and vegetable exports rose 14.9% to US$3.9 billion, while blueberry exporters are pursuing new markets and greater quality as forecasts soften. Table grape volumes are projected to fall 9% year on year due to weather disruptions. Energy & Investment: Oil production exceeded 39,000 barrels a day in September. A US$150 million industrial plant has opened in Cañete, and the government says it wants to attract investment and create jobs. Infrastructure & Economy: Peru is advancing four power transmission projects worth US$339 million. The fiscal deficit has fallen to its lowest level since June 2022.

Agriculture: Peruvian blueberry exporters are targeting China and longer supply windows into February–April, while table-grape shipments are projected to fall 9% year on year amid weather disruptions. Fishing: Peru’s second anchovy season may be cancelled as El Niño threatens catches, adding pressure to fishmeal supply, which is nearing a decade low. New weekly price assessments for Peruvian fishmeal in China aim to give traders clearer market signals. Trade: Peru’s exports topped US$74 billion from January to August, up 34% from a year earlier. Mining: Mining exports exceeded US$42.69 billion in the first half of 2026. Energy: Oil production surpassed 39,000 barrels a day in September. Manufacturing: A new US$150 million industrial plant has opened in Cañete.

Agriculture: Peru’s table-grape crop is forecast to fall 9% to 78.7 million boxes in 2026/27, with weather disruptions hitting northern production hardest. Blueberry forecasts have also been cut as growers shift toward quality and differentiation. Fisheries: A second anchovy season is likely to be cancelled amid El Niño, deepening pressure on fishmeal supplies. Peru’s raw-material intake remained very low, and global fishmeal output is on track for its weakest year since 2016. Trade and logistics: Fruit and vegetable exports rose 14.9% to US$3.9 billion, but congestion at Chinese ports is delaying Peruvian fruit shipments by up to two weeks. Investment: Peru agreed to advance four power-transmission projects worth US$339 million, while a new industrial plant in Cañete represents a US$150 million investment. Mining: Exports topped US$42.692 billion in the first half of 2026, underlining the sector’s weight in the economy.

Mining: Peru’s mining exports topped US$42.7 billion in the first half of 2026. Precore Gold’s new magnetic survey also points to a larger gold-copper exploration target at Arikepay, while Xali Gold held a community workshop ahead of planned drilling at Pico Machay. Industry and Energy: Peru inaugurated a US$150 million industrial plant in Cañete and agreed to advance four power-transmission projects worth US$339 million. Oil production exceeded 39,000 barrels a day in September. Agriculture and Fisheries: Fruit and vegetable exports rose 14.9% to US$3.9 billion, but blueberry shipments face port delays of up to two weeks and packaging constraints. Separately, Peru’s second anchovy season may be cancelled as warm seas and juvenile fish threaten catches—an outcome that could squeeze global fishmeal supply. Investment: Peru is promoting private free zones to attract South Korean manufacturing and mineral-processing investment. The World Bank raised its 2026 growth forecast for the country to 3.2%.

Investment: Peru’s president says attracting private capital is key to creating jobs and lifting production, as the World Bank raises its 2026 growth forecast to 3.2%. Energy: Oil output topped 39,000 barrels a day in September. Four power-transmission projects worth US$339 million are also moving ahead. Mining: Exports exceeded US$42.692 billion in the first half of 2026, while investment rose 45% to US$4.117 billion in January–July. Agriculture: Fruit and vegetable exports climbed 14.9% to US$3.9 billion, but blueberry growers are shifting from volume toward quality as forecasts point to lower shipments than last season. Industry and Logistics: A US$150 million industrial plant has opened in Cañete. Callao plans to add 25% more refrigerated-container plugs, while congestion at Chinese ports is delaying some Peruvian fruit shipments by up to two weeks.

Fisheries: Peru’s anchovy season closure is weighing on a strained fishmeal market: global output was down 45% year to date through August, with 2026 supply forecast below 4.6 million tonnes, its lowest since 2016. El Niño-driven ocean warming is also pushing fish away from coastal fishing grounds, threatening catches and raw-material supplies. Energy: Peru agreed to advance four power-transmission projects worth US$339 million. Agriculture and Exports: Fruit and vegetable exports climbed 14.9% to US$3.9 billion, but blueberry volumes are forecast to fall from last season, while China port congestion has delayed some Peruvian fruit shipments by up to two weeks. Mining: Investment rose 45% to US$4.117 billion in January–July. Radius Gold has secured authorization to begin exploration and drilling at its Tierra Roja copper project in Arequipa; Codrus Minerals has completed its acquisition of the Tiquihua project in Ayacucho.

Power Infrastructure: Peru’s Ministry of Energy and Mines signed concession agreements with Engie Transmision Peru for four major transmission projects worth US$339 million, aimed at boosting reliability for 1.6 million people across Piura, Lambayeque, Junín and Ayacucho. Fresh Produce & Logistics: Port congestion in China is delaying Peruvian fruit shipments by up to two weeks, adding pressure to the country’s export calendar. Agriculture Exports: Peruvian fruit and vegetable exports rose 14.9% to US$3.9 billion, while Peru’s blueberry outlook was revised down again; the sector is also dealing with container-load limits and tight supply dynamics. El Niño Risk: A new forecast warns Super El Niño could intensify hunger risks across Latin America, with UNICEF flagging 25.8 million children exposed to El Niño impacts. Trade & Connectivity: Peru is pushing to strengthen air connectivity and tourist competitiveness, while also seeking to grow exports— including efforts to boost US$149 million in sales to Australia at a mining fair. Governance & Justice: A report says Peru’s politics is increasingly entangled with criminal networks, undermining prosecution and justice systems.

Tourism & Air Connectivity: Peru’s Air Connectivity Table (Mincetur-led) is pushing new routes, airport upgrades, and a review of airport fees to boost airline competitiveness and improve emergency coordination for travelers. Fresh Produce & Weather Risk: Peru’s banana supply faces mounting pressure from disease and climate swings tied to El Niño, with growers across the region dealing with water stress and higher costs. Agriculture & Food Security: A Plan International assessment based on interviews with girls and young women in Peru and other countries links climate shocks to disrupted education and higher risks tied to early marriage and unintended pregnancy. Circular Plastics Packaging: Latin America’s shift toward circular plastics is moving from pledges to regulation and real recycled-material supply; the LAPET Series in Mexico City will spotlight producer responsibility, traceability, and infrastructure needs. Energy Transition & Biofuels: Peru’s neighbors highlight biomethane integration into gas networks, underscoring how waste-to-energy projects are becoming a practical decarbonization pathway. Governance & Markets: Peru’s regional elections and ongoing policy moves continue to shape business confidence and consumer credit momentum.

Tourism & Air Connectivity: Peru’s Mincetur is pushing an “Air Connectivity Table” plan to open new routes, modernize regional airports, review airport fees, and improve emergency coordination—aimed at boosting tourism competitiveness. Mining & Community Relations: Panoro Minerals signed a five-year surface access agreement with the Cochapata community for its Cotabambas project, enabling infill and step-out drilling at the North Pit. Port & Trade Links: DP World backed the PortMiami–Port of Callao sister seaports agreement to share cargo/cruise data and best practices and explore joint initiatives. Fresh Produce Exports: Peru’s fruit and vegetable exports continue to grow, while the avocado and blueberry supply picture stays in focus as seasons wind down and quality/size trends shift. Climate Pressure on Peru: A Plan International report links climate disasters to higher unintended pregnancy and child marriage risks, including in Peru. Energy Storage Policy Watch: A regional look at BESS highlights regulatory uncertainty as a key barrier, with Peru mentioned for behind-the-meter projects.

Port & Trade: DP World signed an International Sister Seaports Agreement between PortMiami and Peru’s Port of Callao, setting up cooperation on cargo/cruise data, infrastructure plans, and technical working groups. Connectivity & Public Services: Gilat Perú won a $28M Pronatel contract to upgrade broadband in Ica, aiming for speeds 20x faster for 116 public institutions and free Wi‑Fi in 30 public squares, with construction due mid‑2027. Fresh Produce Watch: Proarándanos cut Peru’s 2026/27 blueberry yield forecast to 366,000 metric tons (down 4%), with exportable volumes expected to soften despite more planted hectares. Regional Politics: Peru’s regional election runoff picture is taking shape, with at least nine regions headed to governor runoffs after no candidate cleared the 30% threshold. Water & Mining Infrastructure: Camino’s Puquios project in Chile cleared a $1.7M water-management guarantee step, allowing diversion and channeling works to proceed.

Peru Elections: Voting has started in Peru’s municipal and regional elections, with 26.3M people set to pick 25 regional governors, 196 provincial mayors, and 1,892 district mayors for 2027–2032; polls open 7:00 a.m. and close 5:00 p.m., with Lima’s race again drawing controversy over “hidden re-election.” Fresh Food & Supply Chains: Peru’s export story continues to intersect with climate risk as El Niño intensifies across Latin America, with warnings that heat could drive major health impacts and disrupt key supply chains. Mining & Environment: Peru’s broader extractives context remains under scrutiny as mining pressures and wildlife protection concerns dominate regional coverage, underscoring how permitting and compliance can quickly become industry flashpoints. Tourism & Infrastructure: A fire near the main access road to Machu Picchu highlights ongoing operational risks for Peru’s tourism corridor, while new Inca road discoveries point to continued archaeological and site-management demands.

Machu Picchu Fire: A wildfire near the main access road to Machu Picchu in Peru’s Sacred Valley killed one older man and injured two, with officials linking rapid spread to hot, windy weather and farmers burning brush for crop clearing. Inca Infrastructure Discovery: A Polish-Peruvian team using drone LiDAR has identified over 2.5 km of previously unknown Inca roads near Machu Picchu, expanding what’s known about the network of settlements and platforms around the site. Peru Archaeology Update: New research at Huaca del Loro on Peru’s southern coast reports mummified individuals buried under a Wari temple—suggesting unusual burial practices and a chance to refine regional history. Peru Finance Watch: Peru’s consumer credit grew 12.7% year-on-year in Aug 2026, signaling continued demand in household lending. Mining Investment: Mining investment in Peru rose 45% to US$4.117 billion in Jan–Jul 2026, pointing to renewed capital flow into the sector. El Niño Risk: NOAA forecasts a historic El Niño risk for Peru’s desert regions, raising concerns for water, agriculture, and broader supply chains.

AI Commerce Shift: US retail brands are rethinking how to sell to AI shoppers, as “agent-influenced spend” could reach 20% of e-commerce by 2030 and some platforms already block bot traffic. Archaeology & Tourism: A Polish-Peruvian team using drone LiDAR has mapped over 2.5 km of previously unknown Inca roads near Machu Picchu, adding to the park’s growing network of sites. Mining & Metals Outlook: Analysts flag copper’s bullish setup—rising demand (including data centers) and slower new supply—as a potential inflection point into 2028. Peru Trade & Ports: Peru’s Callao port plans a 25% increase in reefer plugs, while broader coverage points to Peru’s export momentum and investment push. Agribusiness & Food Safety: SENASA suspended glyphosate and other pesticides in plant foods, signaling tighter controls for fresh produce. Energy & Renewables: Milky Mist highlights solar-driven energy self-sufficiency, reflecting ongoing clean power expansion.