Mexican Exports, Imports Flying High

This week, an international report indicated that water scarcity continues to worsen but water treatment technology could be a viable solution to guarantee its availability in the future. Meanwhile, Mexico’s agricultural exports and imports have reached their highest value in 29 years. Finally, COP26 published the new IPCC’s “Climate Change 2021: Scientific Bases.” 

 Interested in more? Here are the week’s major headlines in Agribusiness & Food!

• In Mexico, water scarcity continues to be a problem given that the increase in consumption exceeds the rates of replenishment. A report by the World Resources Institute (WRI) announced that solving water scarcity, water pollution and unequal access requires only an annual investment of US$1.04 billion until 2030. In Mexico, according to data from the National Water Commission (CONAGUA), there are 997 water purification plants and 3,661 wastewater treatment plants, of which on average 20 percent are not working due to lack of resources. For that reason, the report urges for the development of solutions such as rainwater harvesting and more water storage and treatment plants. Read more here. 

• The Intergovernmental Group of Experts on Climate Change (IPCC) published the Report of Working Group I “Climate Change 2021: Scientific Bases,” in which scientific point to the causes and effects of climate change. The report projects several scenarios according to greenhouse gas (GHG) emissions in the atmosphere and other human drivers of climate change. The work confirms that humans have irreversibly altered the planet. It suggests that to halt global warming, it is necessary to drastically and sustainably reduce GHG emissions. Read more here. 

• Mexican exports reached the highest point reported in 29 years, with the export balance totaling US$32.75 billion in exports and US$27.34 billion in imports. The national products with the highest export value were beer with US$4.15 billion, tequila and mezcal with US$2.38 billion and avocado with US$2.19 billion. The Ministry of Economy noted that in the first nine months of 2021 over 57 percent of imports were concentrated in four groups: cereals with 22 percent; meat with 15 percent; oil seeds and oleaginous fruits with 14 percent; and dairy, eggs and honey with 6 percent. Read more here. 

• COP26 closed on November 14 but critics claim it ended with weak decisions in several important areas including adaptation, losses, damages and climate finance. However, this COP marks the first time that fossil fuel subsidies and the need to increase investment in clean energy are mentioned in an approved decision text. “The countries know that they will not solve the (climate) problem unless we see deep decarbonization in all sectors, concrete actions to stop the loss of nature and expand restoration,” said WWF about the event. Read more here.