Russia says it wants to import up to 300,000 metric tons of beef a year from Mexico as the two countries strengthen bilateral trade in farm goods.
With Russian beef production stagnating, and demand showing signs of recovery, other Latin American nations are also looking to boost sales to the country over the coming months.
Officials from Mexico and Russia have held a series of meetings in recent weeks that aim to smooth the way for closer trade ties. On the Mexican side, the government is seeking access to the Russian market – not only for beef but also for poultry and dairy products. In turn, the Russians see Mexico as a potential buyer of fertilizers, wheat and agricultural machinery.
The rationale for closer trade ties is strategic as well as economic; Mexico is keen to diversify its markets given the uncertainty over relations with the U.S. since Donald Trump came to power. There is still debate as to whether the U.S. will exit NAFTA, with agriculture groups on both sides concerned that this could negatively impact trade.