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USDA Details “lucrative” U.S. ag Opportunities in Chile

A USDA report shows opportunities for U.S. agricultural products in Chile, the second-largest South American market.

Its stable macroeconomic environment, solid political institutions, and high consumer purchasing power make Chile a lucrative market for U.S. producers of wheat, cheese, pet food, alcoholic beverages, and other consumer-oriented products.

Chile’s high purchasing power is derived from having the highest gross domestic product per capita in South America at $28,372.

Since 2015, when all remaining duties were removed for the U.S.-Chile Free Trade Agreement, ag exports to Chile have increased by 33% to $1.1 billion.

Chile’s retail economy stands out with its more than 1,300 supermarkets, mid-sized grocery stores, convenience stores, gas station markets, and small independent neighborhood stores.

Retail food sales are projected to increase 2.3%per year through 2026 with increasing demand for premium processed and healthy foods.

Source : Fruit Portal