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