Developing countries located in the tropics have favorable climates to develop modern agriculture and agriculture-based industry. Peru and Indonesia are examples of two developing countries located in the tropics with economies based on the export of agricultural products. The generation of agricultural and forest residues has continuously increased in these countries. In this paper, we analyze the availability of agricultural and forest products in Peru and Indonesia in order to calculate the number of residues that could potentially be used for different applications such as energy generation and composite materials production. A single index taking into account the technical, economic, and environmental performance of these residues-based products was utilized to compare them. The results showed that, in addition to the generation of energy, the production of plastic bio-based composites and activated carbon are viable alternatives for the use of these residues.