Among this week’s top stories, SADER registered a surplus of US$5.07 billion in Mexico’s agri-food trade balance during the first 10 months of 2022. Meanwhile, Bimbo announced that the prices of its products will continue to rise during 1Q23.
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The Ministry of Agriculture and Rural Development reported an agri-food trade balance surplus of US$5.07 billion in the first 10 months of 2022. 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 of 2021. Beverages, fruit and vegetables constituted the main export groups reaching 60 percent of sales in total. 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.
Bimbo announced that the prices of its products will continue to rise during 1Q23. So far, the company has made three price adjustments in 2022. According to the National Alliance of Small Traders (ANPEC), the bakery industry had to confront price hikes for its main inputs, such as wheat, energy and logistics. Another reason for the sudden increase in prices is the end of Mexico’s Inflation and Famine Package (PACIC). The company reported an increase in the price of its products on Dec. 19, 2022. These products include the 640gr pack of white bread, which went from MX$42 (US$2.13) to MX$45 (US$2.28), and the 360g pack of white bread, which increased from MX$32 (US$1.62) to MX$36 (US$1.82).
One of the main arguments from supporters of President López Obrador’s proposed GMO corn ban has been the potential risks for human consumption. But, to date, there is not enough evidence to either ensure or rule out the safety of GMOs. However, there are risks associated with the use of glyphosate and the predominance of monocultures, both linked to the production of GMO crops. Recently, the Mexican government proposed to extend the deadline for the ban on GMO yellow corn until 2025. Along with this proposal, President López Obrador suggested that Mexico and the US conduct joint investigations regarding the potential health risks of GMOs.
SADER reported that, starting this year, the National Fisheries and Aquaculture Institute (INAPESCA) will be in charge of updating the National Fisheries Charter (CNP) every two years. The CNP provides information on where and when to fish, as well as how much can be fished without altering the ecological balance of aquatic ecosystems. CNP is also a useful guide for authorities to resolve requests for concessions and permits for fishing activities.