Agri-Food Trade Breaks Records in 2022
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Agri-Food Trade Breaks Records in 2022

Photo by:   BRUNO EMMANUELLE - Unsplash
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Eliza Galeana By Eliza Galeana | Junior Journalist & Industry Analyst - Mon, 12/19/2022 - 12:33

The Ministry of Agriculture and Rural Development (SADER) said that Mexico’s agri-food trade balance registered a surplus of US$5.07 billion in the first ten months of 2022. Additionally, SADER reported record levels in exports and predicted an upward trend for the next year.

According to SADER, agri-food exports broke previous records by reaching gains of US$41.6 billion, which represented a 13.88 percent increase compared to the US$36.53 billion achieved in the same period during 2021, year and even approaching the total sales of 2021, which accounted for US$44.68 billion. 

Beverages, fruit and vegetables constituted the main export groups concentrating 24, 18 and 18 percent of sales, respectively, reaching 60 percent in total. Particularly, the sales of wheat and grain increased by 175.51 percent, followed by cocoa beans by 149.8 percent, unroasted and decaffeinated coffee by 86.99 percent, sugar by 52.32 percent, coffee, tea or yerba mate products by 47.55 percent and sunflower oil, safflower and cotton by 41.47 percent.

Much like 2021, the agri-food products with the highest export value were beer with US$5.05 billion, tequila and mezcal with US$3.63 billion, avocado with US$2.93 billion, tomato with US$1.93 billion and bakery products with US$1.92 billion.

Mexico’s imports reached US$36.52 billion in the same 10-month period and registered growth during October. They were concentrated in four groups: cereals, which constituted 21 percent of purchases,  oilseeds and fruits with 15 percent, meat with 14 percent and dairy, eggs and honey with 7 percent.

Moreover, SADER pointed out that the livestock and fisheries trade balance presented a US$208 million deficit. During the mentioned period, exports in these sectors accounted for US$17.54 billion, while imports reached US$17.74 billion.

Overall, Mexico’s agri-food trade with the world equaled US$78 billion from January to October 2022. In this period, 53.2 percent of the trade corresponded to Mexico’s exports. SADER highlighted that according to data from the Bank of Mexico (Banxico), the surplus observed during this period was the fifth-largest positive monetary balance in 28 years.

Photo by:   BRUNO EMMANUELLE - Unsplash

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