Produce: Peru's fishing recovery to give processing a boost

The sector will grow this year on the back of higher landings. 

Pedro Olaechea, the new head of Peru's ministry of production (Produce), said a recovery of fishing will give the country's manufacturing sector a boost, after seeing declines in the past three years. 

Manufacturing will grow 1 percent this year, after it struggled with low volumes due to the El Nino impact.

“Although the expansion of the manufacturing sector has declined, the industry plays a very important role in our economy, as it contributed 16.5 percent to the country’s GDP,” Olaechea said.

“As a result of a higher production in industrial fishing, the better conditions registered in the first half of the year and the measures taken to reactivate small and medium companies, we will see the manufacturing industry grow.”

Olaechea was appointed head of Peru's Ministry of Production (Produce) on May 25 replacing former minister Bruno Giuffra. 

Giuffra had been at the helm of the ministry since July 2016, and had prompted controversy as a number of organizations criticized his "lax" measures on anchovy stocks conservation, while industry players claimed he "understands what the industry needs." 

He was appointed Minister of Transport and Communications on May 25. 

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