Driven by products with high international demand such as beer, meat and avocado, the agri-food sector is the third most valuable sector in terms of exports in Mexico, only below manufacturing and automotive, official data reveal.
According to information from the Bank of Mexico (BdeM), between January and September 2024, the agri-food sector sold products worth 40,852 million dollars abroad, while manufacturing generated 256,291 million dollars and the automotive industry 118 thousand 679 million.
Agriculture is even ahead of other foreign currency generating sectors such as tourism (24,267 million dollars) and oil sales (20,889 million dollars). It is even closer to remittances, which in the first nine months totaled 48,386 million dollars.
According to official information, the Mexican agri-food sector grew 4.98 percent in the last year, since at the end of September 2024 its exports stood at 38,913 million dollars.
In the accumulated period up to September 2024, the agri-food sector reported a surplus (greater exports than imports) of 7,434 million dollars, this because the country’s imports amounted to 38,913 million dollars.
According to the Agricultural Market Consulting Group (GCMA), the most exported agri-food products in this period reflect both the potential of traditional industries and the growth of key products, among which stand out: beer, with an annual growth of 12.9 percent. hundred; followed by beef, with 14.4 percent; avocado, 18.1 percent; tomato, 9.5 percent and peppers, 14.8 percent.
In this period, beer is the main product sold abroad with 5,249 million dollars; followed by tequila, with 3.19 billion dollars, although with an annual decrease of 8.3 percent. In third place were beef exports (cattle + meat) with 3,736 million dollars, reflecting a growth of 14.4 percent, while avocado is placed in fourth place, with an increase of 18.1 percent to be placed in 2 1,727 million dollars.
In fifth place was the tomato with 2,463 million dollars, then there are the berries (strawberries, blackberries, raspberries and blackberries) with 2,325 million dollars; sugar, with 1,533 million dollars, and peppers with 1,389 million dollars.
For the GCMA, Donald Trump’s constant tariff threats to Mexico are a risk for the agri-food sector, not only in Mexico, but in the region, since the figures show that the trilateral relationship between Mexico, the United States and Canada has made it possible to achieve 112 percent food self-sufficiency as a trading bloc.
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#Agriculture #sector #exports #BdeM
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Of global trade policies and the potential impact of tariffs, which can affect pricing and competitiveness. Additionally, climate change poses significant risks to agricultural production, affecting supply chains and crop yields. To address these challenges, we must actively engage in dialogue with policymakers to advocate for stable trade regulations and invest in sustainable farming practices that mitigate the effects of climate change.
Great, let’s get started with the interview! Our first guest today is Mr. Eduardo Murillo, the CEO of Agrícola Cosmos, a leading Mexican agri-food export company. Our second guest is Ms. Eva Hernández, an economist specializing in international trade at Banco México.
Mr. Murillo, could you tell us a bit about your experience in the Mexican agri-food sector? How has your company managed to maintain its growth and success in the face of global competition?
Eduardo Murillo: Agrícola Cosmos has been in operation for over 50 years and we have always been committed to producing high-quality, sustainable products while adapting to market demands. Our success is built on three pillars: innovation, efficiency, and a strong focus on customer satisfaction. We invest heavily in R&D to develop new products and improve existing ones, we continuously optimize our production processes to reduce costs and increase yields, and we work closely with our clients to understand their needs and preferences. This approach has allowed us to maintain a strong presence in local and international markets, even amid stiff competition.
Ms. Hernández, as an economist specializing in international trade, how do you assess the current state of the Mexican agri-food sector in terms of exports? What factors contribute to its success?
Eva Hernández: The Mexican agri-food sector has been performing quite well in recent years, driven by several factors. Firstly, the country has a favorable geographic location that allows for easy access to key export markets in the US and Canada. Additionally, the sector has benefited from the North American Free Trade Agreement (NAFTA), which has significantly reduced trade barriers between the three member countries. Furthermore, the sector has invested heavily in modernizing its production processes, improving efficiency, and expanding its product portfolio to include high-value goods such as avocados, tequila, and beer. Lastly, domestic demand for these products has been strong, ensuring a stable domestic market and providing producers with a reliable source of income.
Both guests, what challenges does the Mexican agri-food sector face in terms of exports? How can these be addressed moving forward?
Eduardo Murillo: One of the main challenges we face is the uncertainty
