Agribusiness boosts food exports to June

Agribusiness boosts food exports to June

During the first half of 2022, Mexican agri-food exports accelerated, growing 14.6% year-on-year to 25,956 million dollars, a rate that exceeds the 10.8% advance they had during the first six months of 2021, according to data from the Bank. of Mexico (Banxico).

Within the indicator, the most dynamic line is that of industrialized food exports, which grew 20.6% (versus 16.8% in 2021), that is, more than double the increase in the value of shipments of agricultural products, which was 8% (versus 4.8% in 2021).

For the second consecutive year, the external turnover of industrialized products grew faster than that of primary products, with which the share of processed products in the total value of agri-food exports went from 49.6% to 55% between 2020 and 2020. 2022.

Malt beer repeated as the product that leaves the country with the most foreign currency with foreign sales of 2,923 million dollars, a figure 9.5% higher than that of the first half of 2021.

Just this week, President Andrés Manuel López Obrador announced his intention to change government policy towards this industry, saying that his government will no longer provide facilities for the production of the beverage to expand in the northern states of the country. -where there is an important production-, arguing that due to the scarcity of water in the north of the country, preference will be given to the distribution of the vital liquid for human consumption.

Behind malt beer, tequila and mezcal were consolidated as the country’s second agri-food export in terms of value with a spectacular advance of 48.1% to 2,145 million dollars, which also made this line the most dynamic of the top 10 of exported products.

The top five best-selling foods for Mexico abroad are the avocado, with an external turnover of 1,761 million dollars (+13.4%), the tomato, which generated 1,351 million dollars (+0.2%) and the strawberries and raspberries , with 1,185 million dollars (+6.2 percent).

Other industrialized products within the top 10 of exports and with growth above the average were bakery products, with sales of 1,019 million dollars (+25.5%), sugar, with 698 million dollars (+46%) and non-cocoa confectionery items, with 573.271 million greenbacks (+34.7 percent).

Imports are not lagging behind

Food imports, for their part, grew 19.6% to 21,198 million dollars, slowing their pace compared to the 34.1% rise registered during the first half of 2021.

Inside, the growth was balanced, since those of agricultural products grew 19.7% and those of industrialized products rose 19.4 percent.

The product most imported by Mexico continued to be yellow corn, with purchases that rose 10.8% to 2,792 million dollars. This was followed by soybeans, with purchases rising 21.8% to 2,147 million dollars.

Wheat completes the top 5, with acquisitions that totaled 1,100 million dollars (+40.3%), pork, with 1,086 million dollars (+12.2%) and poultry, with 849 million dollars (16.3%). plus).

For the eighth consecutive year, Mexico recorded a surplus in the agri-food balance. During the first half of the year, this amounted to 4,757 million dollars, a figure 3.4% lower than that of the same period in 2021.

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