Meat Imports Increased by 7.7% in 1H23

From January to July 2023, the meat trade market reported a deficit of US$1.5 billion. Meanwhile, during the first eight months of the year, milk production exceeded projections by 66%.

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Mexican Meat Trade Market Experienced a US$1.5 Billion Deficit

During the first seven months of the year, the volume of beef, pork and chicken imports increased by 7.7%, while exports decreased by 12.3%, resulting in a trade deficit of US$1.5 billion. Specialists highlighted that this surge in the purchase of meat is due to the strength of the Mexican peso and the implementation of the Inflation Control Package (PACIC). Moreover, the Mexican Meat Council (COMECARNE) highlighted that the situation is primarily driven by increasing domestic demand, which exceeds national production in all meat categories. 

Expanding Mexican Dairy Industry Bolsters Food Security

At the 2023 Dairy Sector Congress, key leaders celebrated Mexico's thriving dairy industry, boasting record-breaking milk production and outlining plans for growth and sustainability. According to the Ministry of Agriculture, by the end of August, a volume of 8.7 billion L of milk was produced, exceeding production projections by 66%. By the end of the year, the economic impact of the sector is anticipated to reach US$195.6 million, an uptick of US$10.5 million in comparison to 2022. Specialists pointed out that the milk industry has been a vital partner in transforming and enhancing the quality of nutritious and healthy dairy products and it constitutes a fundamental pillar for the country's food security. 

Mexico's Climate Dilemma: Emissions, Vulnerability, Budget Cuts

A study from the Development Bank of Latin America and the Caribbean (CAF) revealed that Mexico is the second-largest polluter in the region, contributing to 17% of total emissions. However, the country deals with climate challenges and impending budget cuts in the environmental sector. According to the study, extreme weather events in Mexico have increased from an average of 3.5 to 5.8 events per year over the past two decades, affecting over 557,000 people. Nonetheless, despite the urgency, the government plans to reduce the budget for the sector by 11.4% in 2024.

Mexico, EU Advance in Agriculture and Sustainability Agreements

During a workshop on Agriculture and Sustainable Food Systems, authorities from Mexico and the EU noted that an update of the Free Trade Agreement between Mexico and the (TLCUEM) will provide greater opportunities for the diversification of agricultural exports. A representative from the Ministry of Agriculture emphasized that the Mexican government has prioritized inclusive agricultural policies that benefit vulnerable populations and producers. Meanwhile, in the EU, the "Farm to Fork" strategy will contribute to achieving climate neutrality by 2050. 

Bimbo: Best Mexican Company in 2023

Grupo Bimbo was the highest-ranking Mexican company in the World’s Best Companies of 2023 report published by Time Magazine and Statista. The ranking features companies from diverse industries including retail, manufacturing, engineering, automotive, services, among others. The Top 5 companies were Microsoft, Apple, Alphabet, Meta and Accenture, all with overall scores above 94 points. At the national level, Bimbo leads the list of the Top 5 Mexican companies with an overall score of 87, followed by Banorte, FEMSA, Liverpool and América Móvil.