Mexico Agribusiness Q4 2018
We see positive trends in domestic consumption and production in the dairy and livestock sector. We are also positivethat the coffee crop will maintain healthy rebound as the effects of the roya coffee rust begin to fade away. On the demand side,rising per capita disposable incomes will continue to deliver consumption-side growth, but we hold our opinion thatcompetitiveness remains an issue for the Mexican agricultural sector as a whole, particularly in the grains, livestock and sugarsubsectors. We also see the ongoing NAFTA re-negotiations and election victory by AMLO as salient issues over the comingquarters.