Peru's agricultural sector to grow over 5% in 2013

Peru's agricultural sector is expected to increase over five percent this year boosted by investments currently being made and despite natural disasters, the Minister of Agriculture Milton Von Hesse said.

According to the Peruvian Ministry of Agriculture (Minag), the budget for the risk management plant is more than double the last year’s figure and just for the highlands regions of the country it is planned to allocate 1 billion soles (RM1.2 billion).

Von Hesse stated the government is already calling for the respective biddings, which will generate a further dynamism in the sector.

On the other hand, the Minister said that he does not share the estimated loss of 3 billion soles (RM3.59 billion) to the country’s economy from natural hazards.

"I do not manage the right figure, but it seems totally exaggerated," Von Hesse told Andina news agency