The Week in Agribusiness: Mexico’s Agri-food SuperavitBy Alejandro Enríquez | Fri, 12/20/2019 - 15:19
Gruma got a loan to restructure its debt, while the country enjoys an agri-food surplus of US$7.65 billion according to government data.
In international news, Trump recently announced that China already started purchasing large amounts of agricultural products after both countries reached an agreement. Meanwhile, the Argentinian president announced there will be reimbursements for small producers who focus on exports.
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- Gruma gets a loan from Scotiabank of US$250 million for a six-year period at a 2.789 interest rate.
- Mexico’s agri-food surplus grows 46 percent in October, totaling US$7.65 billion, according to the Minister of Agriculture and Rural Development.
South America on the Spotlight
- In Argentina, there will be reimbursements for small producers who export, according to President Fernandez.
- McDonald’s will close its 29 stores in Peru to conduct an inspection after two employees died from electrocution.
Across the Atlantic
- US farmers await for details on the new US-China pact, while Trump announced on Friday morning that China has already started large-scale purchases of US agricultural products.
- Glovo, a new Spanish food-delivery unicorn, has been valued by Mubadala – Abu Dabi’s state fund – at more than €$1 billion (US$1.1 billion).