Agri-Food Trade Grew 15 Percent in March

During March 2022, Mexico’s agri-food exports amounted to US$4.9 billion, a 15.1 percent increase compared with March 2021, according to Grupo Consultor de Mercados Agrícolas (GCMA). Meanwhile, the country’s imports increased by 15.3 percent year-on-year and amounted to US$3.5 billion. The trade balance shows a surplus of US$1.42 billion and a positive balance of 14.4 percent compared to March 2021, according to GCMA.

This is the Week in Agribusiness & Food!

FIRA Looks for MX$5 billion in the Mexican Stock Exchange

Banxico’s Instituted Trusts in Relation to Agriculture (FIRA) will issue a three-year bond for MX$5 billion (US$247 million) on the Mexican Stock Exchange (BMV), said Alan Elizondo, Director General, FIRA. "The instrument will be classified as a social bonus, since in addition to having the reference rate, it will have financial inclusion as a component and will be used to finance individuals who do not have access to resources," said Elizondo.

FAO Food Price Index Recedes in April

World food commodity prices decreased in April, after a large jump the previous month, led by modest declines in the prices of vegetable oils and cereals, reported FAO. Vegetable oil and maize prices slightly decreased after their recent surge, while rice, meat, dairy and sugar prices slightly increased as global trade prospects dim.

Digitalization: Key Accelerator of Agri-Food System Transformation

Digital agriculture has great potential to foster the transformation of agri-food systems and promote rural development, said Qu Dongyu, Director-General, FAO: “Data, digitalization and innovation are key accelerators to achieve this transformation and are the core of FAO’s actions across all our areas of work, in line with our mandate,” the Director-General said during the opening of the event.

Agriculture Is the Only Sector With Losses in Queretaro’s Labor Market

Agriculture, farming, fishing, forestry and hunting make up the only sector that reports loss of formal employment in Queretaro during 1Q22, according to IMSS, with 900 jobs lost. In contrast, the remaining sectors reported single-digit growth; the most significant increase was reported by the construction industry, with a rise of 5.8 percent (3,129 more jobs).