Mexico achieves US$5.2 million surplus in the agro-industrial market

Mexico achieves US$5.2 million surplus in the agro-industrial market

MEXICO – The Secretariat of Agriculture and Rural Development (Sader) said that, according to figures from the Bank of Mexico (Banxico), the surplus observed in the January-August 2022 period was the fourth largest positive balance in 30 years, in monetary terms.

Mexico's agri-food sales with its trading partners broke records in said period, totaling US$34 billion, an increase of 15.46% compared to the US$29 billion of the same period in 2021.

In turn, agricultural and agro-industrial imports totaled US$28 billion in the first eight months of the year and although they recorded growth, they are below the level of exports, so the agri-food balance remains in surplus.

Thus, Mexico's agri-food trade with the world totaled US$62 billion in the January-August period, where 54% corresponded to Mexico's sales to its trading partners.

The Sader indicated that the agricultural and fisheries balance showed a positive balance of US$626 million, with exports of US$14.8 billion and foreign purchases of US$14.1 billion. While the agro-industrial balance had a trade surplus of US$4 billion dollars, by registering foreign sales of US$19 billion and imports of US$14.6 billion.

The Mexican agency detailed that beverages, fruits and vegetables were the main export groups from January to August, concentrating 60%, with 23%, 19% and 18% of participation, respectively. In particular, it indicated an increase of 202.46% in foreign sales of wheat and meslin, followed by unroasted and not decaffeinated coffee, with 83.54%; sugar, 61.87%; coffee, tea or yerba mate preparations, 49.36% and frozen beef, 43.26%.

Mexican agri-food products with the highest export value were: beer, with US$3 million; tequila and mezcal, US$2.9 billion; avocado, US$2.4 billion; fresh or refrigerated tomatoes, US$1.7 billion; and bakery products, with US$1.4 billion.