*Mexico’s agriculture & rural development ministry (Sader) has revealed that the country’s agrifood (agriculture and agro-industrial) trade balance registered a surplus of US$1.49bn in the first two months of 2024. This figure represents a record annual increase of US$565m, up 60.95% on the same period in 2023. In a statement, Sader attributed this positive trade balance to a rise in exports, which increased by 8.85% year-on-year in the January-February period to total US$9.06bn, as well as to the fact that “the rate of growth of imports slowed”. Agrifood imports in the first two months of 2024 totalled US$7.57bn, up 2.32% on the same period in 2023. In the same press release, Sader reported that exports which increased the most were chocolate and other foods prepared with cocoa (+71.74%); coffee, tea, and yerba mate (+64.46%); and frozen orange juice (+62.38%), amongst others. Meanwhile, exports with the highest value were beer (US$1.01bn); fresh or chilled tomatoes (US$630m); and tequila and mezcal (US$621m).
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