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Sharp Fall in the Value of the Mexican Peso May Impact Exports

03/22/2020

A precipitous decline in the value of oil and the advent of COVID-19 has resulted in a 30 percent devaluation of the Mexican peso compared to the U.S. dollar.  During the present week, the exchange rate is expected to attain 25 pesos to the U.S. $ with implications for pricing shell eggs and egg products.

 

In 2019 Mexico imported 27.1 million dozen shell-eggs valued at $19 million and 6,397 metric tons of egg products with a value of $13.8 billion. Although the U.S. now benefits from the USMCA tariff-free exports to Mexico will depend on the willingness of consumers to pay for relatively higher priced commodities from the U.S. in competition with alternative supplying nations.