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Wednesday, March 15, 2017

Mexico Invests $1.5 bn into Farming

Mexico News Daily | Tuesday, March 14, 2017

Agricultural firms are set to invest US $1.5 billion this year in modernization and development, says the president of the National Agricultural Council (CNA). Industry association expects to maintain double-digit growth.

In an interview with the newspaper Milenio, Bosco de la Vega Valladolid said the 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 a year — has attracted entrepreneurs from other industries who are eager to capitalize on it. Commenting on international trade issues, he said it was more important than ever to complete a favorable renegotiation of the North American Free Trade Agreement (NAFTA) given the failure of the Trans-Pacific Partnership Agreement (TPPA).