LatinNews Daily - 18 September 2023

In brief: Mexico registers agrifood trade surplus

*Mexico’s agriculture & rural development ministry (Sader) has released figures which show that in the first seven months of 2023, the country’s agrifood (agriculture and agro-industrial) trade balance registered a surplus of US$5.79bn. This figure represents an annual increase of US$672m, up 13.12%, compared to the same period in 2022. This positive trade balance is primarily attributed to exports, which have reached their highest value in 31 years, increasing by 5.16% year-on-year in the January-July period to total US$31.49bn, while imports amounted to US$25.69bn. Agriculture Minister Víctor Villalobos Arámbula reported that the exports that increased the most were soybean oil (+115.4%), live cattle (+57.17%), and cocoa butter, fat, and oil (+55.5%), amongst others. Meanwhile exports with the greatest economic value were beer (US$3.53bn), tequila and mezcal (US$2.77bn), and avocado (US$1.72bn).

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