Mexico Reaches Highest Agri-Food Trade BalanceBy Sofía Hanna | Wed, 08/18/2021 - 10:55
The Ministry of Agriculture and Rural Development (SADER) announced that Mexico had reached its highest positive trade balance of agri-food products in 29 years during January-June 2021. During the period, agricultural and agro-industrial exports amounted to US$22.6 billion, while imports reached US$17.7 billion. One of the export success cases was Mexican raspberries, which reached US$713 million, a 13.6 percent increase compared to last year.
The US$22.6 billion in exports is divided between agricultural and fishing products. The highest demand abroad was of natural bee honey, with exports growing by 92.95 percent; followed by flowers, with 85.84 percent; citrus fruits, with 61.10 percent; tobacco, 49.42 percent; peanuts, 49.26 percent; and fresh or frozen fish, except fillet, with 46.25 percent. The products with the highest demand, in terms of value, were beer (US$2.6 billion); avocado, (US$1.5 billion), tequila and mezcal (US$1.4 billion), and tomato (US$1.2 billion).
Imports also grew within the period by over 56 percent, with four groups showing the highest increases: cereals, with 21 percent; oil seeds and oleaginous fruits, with 15 percent; meat, with 14 percent; and dairy and other products of animal origin, with 6 percent.
The report highlights the case of raspberries, which doubled their production and export figures. Between January and June 2021, exports of this fruit amounted to US$713 million, 18.9 percent more than the US$599.8 million in the same period of 2020.
Mexico’s agricultural and food trade balance between January and May 2021 had already surpassed US$4 billion, as previously reported by MBN. During that period, the country exported US$18.72 billion in agricultural and agro-industrial products and imported US$14.49 billion. This shows a constant increase in the positive balance of exports from the sector, which is beneficial to the country and its products. As has already been mentioned several times by Banxico, Mexico is presenting continuous and consecutive financial growth during 2021. However, there are expectations that medium-term inflation will revert downward, with long-term inflation unchanged, leading experts and analysts to advise caution to minimize the effects of a potential economic slowdown.