Lima: Analysts indicate that potential tariff increases on wine imports in the United States may create an opportunity for Peru to increase its wine exports, provided that local producers enhance their production and marketing capabilities to capitalise on this emerging market advantage.
The United States stands as the largest importer of wine globally, with approximately 80% of its wine imports sourced from European nations, chiefly France, Italy, and Spain. Recent discussions surrounding potential tariff increases by the United States have led industry experts to suggest that this scenario may present a strategic opportunity for Peru to enhance its wine export activities to the U.S. market.
Analysts, including Lizbeth Pumasunco of Adex Consulting, assert that while immediate gains may be limited, there exists medium-term potential for Peruvian wine to penetrate U.S. markets more robustly, provided that production capabilities are bolstered. Pumasunco highlighted the importance of preparedness among local wine producers to increase supply to meet anticipated American demand. She stated, “An attractive window opens, an opportunity to penetrate the U.S. market a bit more.”
Marco Vinelli, director of the master’s programme in agribusiness management at Esan, echoed this sentiment, emphasising that if the U.S. government imposes tariffs on imports from particular countries, those products may find it more challenging to compete. In this context, Peruvian wines could benefit by entering the U.S. market at lower prices. Vinelli remarked, “We must ensure that we maintain good quality and a solid positioning and marketing strategy so our products can compete with that advantage.” He noted that Peru’s potential growth in wine exports hinges on enhancing brand positioning alongside the undeniable quality of local grapes and wines.
The historical precedent set during the Trump administration suggests that such tariff impositions could indeed reshape the competitive landscape for wine exports. Pumasunco recounted that previous tariffs on French wines had inadvertently favoured wine exports from several countries, including Peru, although they significantly benefited Chile and Argentina, which possess greater production capabilities.
Looking ahead, Vinelli mentioned that key developments regarding the tariff structures are anticipated by April. The U.S. administration is expected to announce a comprehensive list of countries and sectors impacted by potential tariff measures, significantly shaping the wine import landscape. “Trump has announced that these measures will be made known in April,” he noted.
For Peruvian wine producers, the upcoming months promise crucial insights into market dynamics, which could guide strategic decisions and operational adjustments aimed at taking advantage of shifting opportunities in the U.S. wine market. Such preparations may be vital for establishing a stronger foothold amid changing competitive conditions driven by international trade policies.
Source: Noah Wire Services
