New strategies and results at the end of May
News from June 22 to July 05, 2023
Today we offer you a summary of the new strategies and figures that some countries presented in May and that will impact the near future of their foreign trade.
Mexico imposes a tariff on corn imports
Since June 24, the presidency of Mexico imposed a 50% tariff on white maize imports to boost domestic production and sales and prevent the entry of genetically modified grain.
To alleviate inflationary pressures, import tariffs on 21 commodities, including white maize, were eliminated last year. However, the government said that this exemption has not significantly impacted the price decrease in the domestic market, so it considers it appropriate to eliminate it.
The measure will be in effect until the end of the year, during the open trade dispute with the United States and Canada over transgenic maize.
Colombian coffee shipments grew
Recent data published by the National Coffee Fund (FoNC) determined that Colombian coffee exports experienced a significant increase during May.
The National Federation of Coffee Growers (through FoNC) exported 152,000 bags in 2022; this year, it reached 185,000 bags (+22%). And nationally, exports reached 846,000 bags, and in the last 12 months, they exceeded 10.7 million.
Although these numbers highlight the strength of the Colombian coffee sector in the international market, production has been affected. The climatic variables have not been favorable for the processes of flowering and grain filling, and this has caused effects on plant nutrients and a reduction and delay in harvests.
The ADEX wants to boost shipments from the Peruvian jungle
Despite its extension and great potential, in the last 5 years, exports from the Peruvian jungle have only accounted for 0.8% of the total national offices. They have focused on 2 sectors: hydrocarbons and agro-industry.
Last year alone, offices in that part of the country totaled US$809,486,000 million (+65.1% over 2021). In the first quarter of this year, shipments amounted to US$235,040,000 million (+6.4% over 2022), led by Loreto, with US$89 million with its main raw oils.
For this reason, the Association of Exporters (ADEX), in the framework of its 50th anniversary, held the conference “Exporting Dreams”, where it counted on the participation of public sector authorities and entrepreneurs to promote shipments from this critical region.
China was the main destination for Uruguayan exports
China regained first place in Uruguay’s destination market ranking in May 2023, accounting for 23% of total exports. International shipments totaled US$219 million, with beef the main ones accounting for 45% and adding US$99 million.
For the other countries:
- Brazil: ranked second when purchasing Uruguayan products for US$162 million, being 31% dairy products ($50 million).
- European Union: was the third export destination to absorb 8% of the total, equivalent to US$79 million, and beef being the main export product (US$43 million).
- United States: ranked fourth, adding US$66 million in the value of its applications and beef being the main product on the market (41%).
- Argentina: ranked fifth in the destinations ranking, reaching US$41 million.
Air cargo transport: products and keys
Air freight is increasingly powerful because it is fast, efficient, and safe. Therefore among the products that it is more convenient to move in this way are pharmaceuticals, urgent, high-end, perishable, and dangerous.
However, to perform the correct process, these recommendations are necessary:
- Have a commercial invoice and packing list.
- Consider the Incoterms.
- Know the basics about aircraft and flight types.
- Make the correct calculation of air freight.
- Have a booking number.
- Don’t forget the air waybill, the shipping document.
Transporting air freight allows companies to optimize their supply chain, improve customer satisfaction and remain competitive in a globalized and constantly changing environment, as it is the ideal choice to meet specific needs.
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