$1.5bn investment in farming this year

By Elliot Bullman

Industry association aims to maintain double-digit growth through Asian expansion

Agriculturalfirms are set to invest US $1.5 billion this year in modernization and development, according tothe presidentof the National Agricultural Council(CNA).

Portada inversion agricultura

In an interview with the newspaper Milenio, Bosco de la Vega Valladolid saidthe investment would focus on boosting protected farming, such as greenhouses, pressurized irrigation systems, revamping of storage facilities and logistics and certification strategies.

De la Vega said the boom being experienced by the industry, with exports worth almost US $30 billion ayear, has attracted entrepreneurs from other industries who are eager to capitalise on it.

Riego_en_haciendas_de_incluencia_del_Distrito_de_Riego_y_Drenaje_de_La_Ramada

Commenting on international trade issues, he saidit wasmore important than ever to completea healthy renegotiation of NAFTA, given the failure ofthe Trans-Pacific Partnership Agreement.

The CNA presidentstressed that Mexico must diversify its exports toward the Asian market. A nation such asSouth Korea, for example, imports $29 billion worth of produce, of which only $900 million comes fromMexico.

He believes that figure could easily be doubled in a couple of years, with an adequate strategy, fewertariffs or even by signing a free trade agreement with that nation.

greenhouse 880636_960_720

RELATED NEWS

  • NAFTA meeting on tap; Mexico doesn’t want to be used to elude US tariffsNAFTA meeting on tap; Mexico doesn’t want to be used to elude US tariffs
  • Mexico is second on world’s best places to retire listMexico is second on world’s best places to retire list
  • New video editing trend could be the future of ´fake newsNew video editing trend could be the future of ´fake news'
  • Trump says North Korea talks under way but he may not meet Kim Jong-unTrump says North Korea talks under way but he may not meet Kim Jong-un
  • Mexico’s candidates are avoiding talking about the elephant in the room: PensionsMexico’s candidates are avoiding talking about the elephant in the room: Pensions
  • Elon Musk just sank more than $100 million into The Boring CompanyElon Musk just sank more than $100 million into The Boring Company
  • Netflix is soaring after it crushed subscriber growth targets yet againNetflix is soaring after it crushed subscriber growth targets yet again
  • Starbucks: Protesters call for boycott after black men arrestedStarbucks: Protesters call for boycott after black men arrested
  • Mexico Leads Worldwide List for Work Related StressMexico Leads Worldwide List for Work Related Stress
  • Despite making more money than ever Airlines face a multitude of problemsDespite making more money than ever Airlines face a multitude of problems
  • Mexico climbs from thirteenth to sixth most popular international tourism destinationMexico climbs from thirteenth to sixth most popular international tourism destination
  • Comey Calls Trump ‘Morally Unfit’ and a ‘Stain’ on All Around HimComey Calls Trump ‘Morally Unfit’ and a ‘Stain’ on All Around Him
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2018