Image credits: Jeremy Lwanga
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Weekly Roundups

Mexico Breaks Agribusiness Export Record in 1H22

By Sofía Hanna | Thu, 08/18/2022 - 10:00

This week, MassChallenge announced its finalists for the 2022 Acceleration Program, which includes Mexican startup Propel Foods. Bimbo launched an initiative to develop and invest in innovative startups and scale-ups within the bakery and snacks sector. Agrifood exports broke records, totaling US$25.96 billion, their highest amount since 1993.

 

Ready? This is the week in Agribusiness!

 

Mexican Propel Foods Among MassChallenge Finalists

MassChallenge announced its Latin American startup finalists for the 2022 Acceleration Program. Mexican foodtech startup Propel Foods is one of the 38 finalists due to its innovative development of plant-based and hybrid protein foods. Propel Foods also seeks to aid several different communities and the environment with its food selection, as one of the company’s goals is to introduce more food based on plants and invasive species. Propel Foods is already a Hult Prize Winner, as the foodtech company stood out amongst thousands of participants due to its repurposing strategy to create modern foods that will allow the development of new diets. “Their work is a testament to the power youth possesses to make the world a better place,” said the Hult Prize Organization via its website.

 

Bimbo Launches Latin America’s Largest Food Business Accelerator

Grupo Bimbo, the world’s leading baking company, launched Bimbo Open Door, the largest food business accelerator in Latin America. The initiative aims to seek, develop and invest in innovative startups and scale-ups within the bakery and snacks sector. To build the future of the food industry and open the door to new alliances, Grupo Bimbo is looking for projects that stand out for their innovative value propositions, sustainable practices and business models, among other characteristics. The invitation for Latin American startups and scale-ups dedicated to the baking and production of snacks will remain open until Aug. 22, 2022. Bimbo Open Door will reach over 20 countries in Latin America, including Mexico, Colombia, Chile and Argentina. During the project, Grupo Bimbo will work in partnership with Blue Box, the largest network of incubators, accelerators and corporate investment funds in Latin America.

 

Agri-food Trade Balance Shows Surplus in First Half of Year

Between January and June 2022, agrifood exports broke records, totaling US$25.96 billion, their highest amount since 1993, according to the Bank of Mexico. In the first half of the year, the country’s agrifood trade balance recorded a surplus of US$1.76 billion, with exports at record levels and an upward trend, informed the Ministry of Agriculture and Rural Development. According to figures from the Servicio de Información Agroalimentaria y Pesquera (SIAP), in monetary terms, the surplus observed in the first six months of 2022 was the fifth largest positive balance in 28 years.

 

Animal Feed Industry to Contribute to the Design of Regulatory Improvements

During the second Regulatory Matters in Latin America Workshop, the Ministry of Agriculture and Rural Development called for the industry to assume its role as a strategic link in food safety and contribute to the design of regulatory improvements. The ministry aims for Latin America to advance in the harmonization of regulatory criteria for the manufacture of animal feed and guarantee the production of healthy, safe and nutritious meat products. During the event, Mexico has been recognized for its experience in combating antimicrobial resistance (AMR). 

The data used in this article was sourced from:  
MBN, SADER
Photo by:   Jeremy Lwanga, Unsplash
Sofía Hanna Sofía Hanna Journalist and Industry Analyst