According to the Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA), Mexico's agri-food trade balance reached a surplus of 1,452 million dollars between January and May this year.
Food exports, which include agricultural and agro-industrial products, amounted to 12.018 million dollars in the first five months of the year, i.e. 5.1% more than in the same period last year.
Meanwhile, agricultural imports decreased by 8.2% and totalled 10.566 million dollars, showing Mexico required less of these goods in this period.
According to SAGARPA, the surplus reached in said period is one of the highest recorded positive balances of the food industry in recent years.
The authorities stated the surplus was due to a more dynamic primary field and the further opening of markets for Mexican products.
Up to May, cumulative exports of agricultural products increased by 7.1% and totaled $6,200 million dollars, SAGARPA stated.
Meanwhile, the agribusiness sector, which includes processed foods and beverages, made $5.818 million dollars in international sales, i.e. 3% higher over the year.
It’s worth noting that, during the month of May, the National Institute of Geography and Statistics (INEGI) reported that the agricultural products with the highest increases were: cattle (+70%), melon, watermelon and papaya (+45.8%), mangoes (+33.5%), onions and garlic (+30.6%) and avocado (+29.1%).
The main export destinations for Mexican food products were: United States, Japan, Canada and China, as well as the regions formed by the European Union, South America, Central America and the Caribbean.
Source: marcotradenews.com