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LatinNews Daily - 17 August 2021

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In brief: Mexico’s agri-food trade surplus soars

* Mexico’s agriculture & rural development ministry (Sader) has reported that the country’s agri-food trade balance posted a surplus of US$4.86bn in the first six months of this year, the third largest trade surplus recorded in 27 years. This was the result of US$22.59bn worth of exports and US$17.73bn worth of imports by the sector, according to figures from the central bank (Banxico). The month of June saw a particular strong performance, with agricultural and agro-industrial food exports reaching their highest level in 29 years, a larger source of foreign currency to Mexico that month than oil sales or foreign tourism. According to a Sader statement, the agricultural products which saw the highest surge in demand over the first six months of the year were natural bee honey, exports of which grew by almost 93%, followed by flowers, citrus fruit and tobacco. In terms of value, however, Mexico’s most significant agri-food exports were beer, avocados, tequila & mezcal, and tomatoes.