FIRA Supports Drought-Stricken Farmers

FIRA remains committed to providing emergency support to farmers affected by droughts. Meanwhile, FEMSA announced the sale of its Imbera and Torrey operations to Mill Point Capital for MX$8 billion. 

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FIRA Maintains Crucial Support Amid Drought Challenges

FIRA will continue to offer emergency support to Mexican farmers affected by droughts, highlighting its role in fostering inclusion, productivity, and sustainability through partnerships with government and private sectors. As FIRA celebrates its 70th anniversary, Banxico's Victoria Rodríguez emphasized the institution's vital support during crises, while Director Alan Elizondo stressed the need for technological advances in response to climate change. Despite recent improvements in drought conditions, significant water shortages persist in several states, affecting various crops and underscoring the ongoing importance of FIRA's financial support.

FEMSA to Sell Imbera and Torrey for MX$8 Billion

FEMSA will divest its operations of Imbera and Torrey for MX$8 billion (US$446 million) as part of its strategy to concentrate on more profitable ventures and long-term growth. The sale, involving refrigeration equipment and food services, aligns with FEMSA's FEMSA Forward plan, which emphasizes Retail, Coca-Cola FEMSA, and digital sectors. The company has previously divested from Heineken and Jetro Restaurant Depot, focusing on retail operations and digital expansion, while facing challenges in its health division.

Mota-Engil, PEMEX to Build US$1.2 Billion Fertilizer Plant

Construction firm Mota-Engil has partnered with PEMEX to build a US$1.2 billion fertilizer plant in Veracruz, aimed at increasing Mexico's agricultural productivity and reducing fertilizer imports. The plant, set to produce ammonia, urea, and AdBlue, will significantly exceed PEMEX's 2024 ammonia production target and include environmental benefits by reducing emissions. The project will be developed in three phases, with Mota-Engil overseeing the coordination and Duro Felguera handling the initial construction, reinforcing the companies' roles in Mexico’s energy transition and industrial growth.

Mexico, Brazil Forge New Agricultural Projects

The Mexican Ministry of Agriculture and Rural Development (SADER), through INIFAP and SENASICA, will launch new technical and scientific projects with Brazil as part of the Dual Year Mexico-Brazil 2024 celebrations, marking 190 years of diplomatic relations. The VIII Mexico-Brazil Working Group Meeting, approved projects on biofuels from castor oil plants and pest control, focusing on fruit flies. Plans for further bilateral collaboration include agreements on genetic material exchange and technical cooperation, set to begin in the last quarter of the year.

Agriculture Department Explores Drone Use for Mango Harvesting

Mexico's Ministry of Agriculture and Rural Development is partnering with Universidad Autónoma de Chapingo to explore drone technology for optimizing mango harvests. The project, Detection and Classification of Mango Fruits Through RGB Images Captured by Drone, aims to enhance productivity and address labor shortages by using drones for tasks such as fruit detection, maturity evaluation, and harvesting. Initial phases have led to innovations in assessing mango maturity and cutting methods, with the final phase focusing on developing an autonomous algorithm for drone-based mango detection and classification.