Mexican ag exports grow in early 2024

Mexico’s agricultural exports increased almost 9 percent in the first two months of 2024, helping the country register a record-high agricultural trade surplus, according to Mexico News Daily, using figures from the Ministry of Agriculture and Rural Development (SADER).

Agricultural and agro-industrial exports were worth $9.06 billion in January and February, an increase of 8.85 percent compared to the first two months of 2023.

Agricultural imports increased by 2.3 percent to reach $7.57 billion in the first two months of 2024.

Mexico thus recorded an agricultural trade surplus of $1.49 billion in January and February, a record for the period. The surplus increased 61 percent compared to the first two months of 2023, SADER said.

Mexican-grown tomatoes were in high demand abroad. They brought in revenue of $630 million in the first two months of the year, making the fruit Mexico’s second highest-earning agricultural export (behind beer), according to SADER.

Rounding out Mexico’s top 5 agricultural exports in January and February were tequila and mezcal ($621 million); avocados ($594 million); and fresh strawberries and raspberries ($531 million).

The majority of Mexico’s agricultural and agro-industrial exports go to the U.S., but Mexican products also reach many other countries around the world, including markets in Asia and Europe.

The agricultural products that recorded the next highest export growth were orange juice (62.4 percent); guavas, mangos and mangosteens (48.6 percent): grapes and raisins (38 percent); and cattle (35.9 percent).