Real estate crowdfunding investment firm Monific gets Fintech Law approval

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January 24, 2023

knaj-tulum-proyectos-fondeados-monific — A Monific crowdfunded project in Tulum. (Monific)

The National Banking and Stock Commission (CNBV) last week authorized crowdfunding real estate investment platform Monific to operate as a Collective Financing Institution (IFC) under the Law to Regulate Financial Technology Institutions, also known as the Fintech Law.

The Fintech Law, passed in 2018, seeks to regulate the fintech market in Mexico and reduce the amount of cash in circulation in order to curtail money laundering and corruption, as well as bring more people into the formal economy.

The law required such companies to seek approval by the CNBV to operate in Mexico after it took effect. However, Monific — along with other fintech companies that existed before the law was passed — was allowed to continue operating as long as it applied to become a government-approved IFC.

That application process came to an end at the most recent meeting of the Inter-Institutional Committee, which is made up of authorities from the CNBV, the Ministry of Finance and the Bank of Mexico.

Mozper, an unrelated pay card and app that helps parents manage their kids’ weekly allowance, also got a license to operate. Both are the first fintech platforms to be authorized in 2023.

Monific was founded in 2018 by David Agmon Mizrahi and Ted Senado Sacal. (Monific)

Founded in 2018, Monific is a platform that raises relatively small amounts of capital from multiple investors to fund real estate development projects — in Monific’s case, in the tourism industry. Investments can start at $1,000 pesos (US $52) “with an average annual return of 12% to 15%,” the firm told El Economista.

To date, Monific has crowdfunded 12 developments in the Riviera Maya, Bacalar, San Miguel de Allende and Mexico City. It plans to seek funding for six more tourist destination projects worth over 70 million pesos.

Last year was not a good one for real estate crowdfunding in general — due to the world’s uncertain climate, Simon Dalgleish, managing director of the crowdfunding real estate platform M2Crowd told the newspaper El Financiero. In December, he said his platform would miss its funding target for the year by as much as 33%.

“We did not break a record, it was not the best year. From what I have heard from other platforms, yes, it is a bit of the environment, there is a lot of uncertainty, among other factors that are happening in the world, inflation, interest rate hikes, the war in Ukraine, oil prices, ” Dalgleish said.

But Monific’s Agmon said crowdfunding investment in the tourism real estate industry was the exception to 2022’s trend.

The Mexican tourism industry’s post-pandemic recovery boosted crowdfunding investment in hotels, rest houses, tourism-related businesses and short-term rentals, he said. The arrival of digital nomads and the home-office trend in Mexico also helped make such investments attractive. Monific’s number of investors increased from 20,000 to 30,000 in one year, he said.

Thanks to that increase, Monific raised 80 million pesos in investment funds for development projects in 2022, Agmon said in late December, compared to 50 million pesos in 2021.

However, he did acknowledge some harder times ahead.

In the last three months of 2022, the firm saw its investment amount per customer decrease by about 30%, Agmon said, blaming it on the Bank of Mexico raising the interest rate throughout most of 2022. It’s currently at 10.5%.

That, he said, “has hit us on the amount of investment, but it’s temporary,” and expressed confidence that the demand for short-term rentals like Airbnb will continue to allow Monific to raise capital.

With reports from El Economista, El Financiero, Custom Market Insights

Inflation rises to almost 8% in the first half of January

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MND Staff

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January 24, 2023

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shutterstock_2047918436_850 — Fruits and vegetable prices are 9.97% higher than in the first half of January 2022. (Shutterstock)

Headline and core inflation both rose in the first half of January, despite efforts by the federal government and Mexico’s central bank to tame the scourge.

The national statistics agency INEGI reported Tuesday that annual headline inflation was 7.94% in the first half of the month.

The figure – slightly above market expectations – is 0.12 percentage points higher than the annual inflation level recorded in the final month of 2022. It is the highest rate since the first half of November, when headline inflation was 8.14%.

Meat on display for sale at a butcher's stand in a Mexico City market. — Meat prices are up 10% compared to the same period in 2022. Graciela López Herrera/Cuartoscuro.com

The newspaper El País reported that inflation typically rises at the beginning of the year due to increases to the minimum wage – a 20% rise took effect Jan. 1 – and adjustments to taxes on products such as tobacco.

The annual core inflation rate, which strips out some volatile food and energy prices, was 8.45% in the first half of January, up from 8.35% in December. It is also the highest rate since the first half of November, when core inflation was 8.66%.

INEGI data shows that fruit and vegetable prices were 9.97% higher in the first half of January compared to a year earlier, while meat was 10% more expensive. Prices for packaged food, beverages and tobacco surged 14.09% on an annual basis while the cost of non-food goods was up 7.57%.

Prices for services were 5.47% higher, while those for energy including fuel and electricity rose 3.59%.

Total inflation has now been above the Bank of Mexico’s target range of 3% give or take a percentage point for 45 quincenas, or two-week periods.

Inflation remains high despite the government’s implementation of an anti-inflation plan and an aggressive tightening cycle pursued by the Bank of México over the past 18 months.

The central bank’s key rate is currently set at a record high of 10.5% after four consecutive 75-basis point increases last year, followed by a 50 bp hike in December.

The bank is expected to enact an additional, albeit smaller, rate hike after its board meets to discuss monetary policy on Feb. 9.

“It’s expected that the Bank of Mexico will lift its interest rate by 25 basis points on Feb. 9 and additional increases can’t be ruled out,” said Gabriela Siller, director of economic analysis at Banco Base.

With reports from El Financiero, El País and EFE

Study puts Mexico’s workforce among top 10 in the world

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MND Staff

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January 24, 2023

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iStock-1346671480 Moises Ortega — ManpowerGroup attributed Mexico's laws prohibiting outsourcing of contingent and most types of subcontracted workers as a factor that improved the Mexican workforce's ranking in 2022. (Photo: Moises Ortega/Istock)

Mexico’s workforce is the ninth best among those of more than 60 countries, according to an analysis carried out by a multinational staffing and recruitment company.

ManpowerGroup’s Total Workforce Index (TWI) scores the workforces of countries on over 200 unique factors grouped under the categories of availability, cost efficiency, regulation and productivity.

“The markets that rank highest … are those with the highest relative performance across all four categories,” ManpowerGroup said.

“Markets that perform well have successfully responded to trends, such as remote workforce readiness, building technology infrastructure and closing skills gaps. They have demonstrated market and geopolitical stability, have relatively high gender participation and are skilling emerging workforces to meet changing demographic realities. High-ranking markets also exhibit favorable regulatory environments,” it said.

Mexico’s performance across the four categories allowed it to rise 44 places from 53rd on the 2021 TWI to ninth on the 2022 edition.

Mexico was the only Latin American country in the top 10, making it a potentially appealing location for companies seeking a productive labor force near the United States while keeping down salary costs, Manpower said. (Credit: Manpower)

It achieved its best score in the cost efficiency category (0.77 out of 1) and also did well in the areas of regulation (0.72) and productivity (0.7). At 0.31, Mexico’s workforce availability score was significantly lower, but ManpowerGroup noted that its standing in that category had improved.

“Mexico is unique because laws that prohibit outsourcing of contingent workers and most types of subcontractors have led companies to pull out of that market. The result is significantly improved access to full-time permanent labor,” the company said in its report.

“… Mexico stands out in terms of being able to support permanent recruitment — whether remote or on-site — for companies looking for opportunities to offshore or nearshore to lower-cost markets.”

María Castro Nevares, a ManpowerGroup executive, said that “the law prohibiting outsourcing of labor in Mexico may have discouraged foreign investment among companies looking to engage contingent labor,” but “any company looking for a large, young skilled workforce can find an abundant permanent workforce at a lower cost than many other markets can offer.”

“This has created a fluid dynamic as American companies look to nearshore and benefit from alignment of time zones and affinity for culture,” she added.

From Manpower’s 2022 workforce report. Mexico scored well in the categories of labor cost efficiency, regulation and productivity. (Credit: Manpower)

Economy Minister Raquel Buenrostro said in November that “more than 400 North American companies have the intention to carry out a relocation process from Asia to Mexico.”

Benefits associated with the North American free trade pact, the USMCA — including ones encompassed by the four TWI categories — are a driving force behind the nearshoring trend.

The workforces of Mexico’s two North American trade partners fared even better on the 2022 Total Workforce Index, with that of the United States ranking No. 1 and that of Canada ranking third.

The workforces of Singapore, Ireland, Australia, the United Kingdom, Israel, Philippines and Malaysia also made the top ten.

Mexico News Daily

Government spends 726M pesos on National Guard anti-riot gear

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MND Staff

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January 24, 2023

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National Guardsman in Mexico City — The National Guard were supposed to remain a civilian force, but late last year, they were put under the military's control. (Photo: Mario Jasso/Cuartoscuro)

The federal government spent over 700 million pesos to purchase tactical gear for the National Guard, the newspaper El Universal reported Sunday.

Citing a 2022 tender document, El Universal said that the Ministry of National Defense spent 726.53 million pesos (US $38.6 million) on 17,442 “body protection kits.”

The kits, purchased from the company Avacor, consist of a protective suit, an anti-riot helmet, a gas mask, a shield and a baton, the newspaper said.

The equipment was purchased for National Guard troops who participate in “internal order and national security operations,” according to the tender document.

The National Guard — essentially a militarized police force — was created by the current federal government to replace the Federal Police. It has been used for operations against criminals, protesters and migrants, and over 6,000 of its members are currently patrolling the Mexico City Metro.

The security force was placed under the control of the army late last year, triggering criticism that the move would further militarize the country and lead to more human rights violations.

Feminist march in Puebla — During protests and marches by citizens, public security, including crowd control, is usually handled by civilian forces like municipal and state police, although the military police is used in some cases. But a tender document for the anti-riot gear specified that “National Guard” should be emblazoned on the equipment. (Photo: Mireya Novo/Cuartoscuro)

President López Obrador, who has relied heavily on the military since taking office in late 2018, argued that the National Guard needed to be under the army’s control to prevent corruption and guarantee its professionalism.

News that the government spent over 700 million pesos on anti-riot gear was questioned by some social media users.

Julieta Macías Rábago, a former lawmaker, raised doubts about the compatibility of the purchase with López Obrador’s pledge to never use the military against “the people,” while journalist Salvador García Soto ran a poll that asked Twitter users to nominate the reason for the purchase.

As of 10 p.m. CT Monday, more than 92% of over 350 respondents said that the government made the purchase to have the capacity to suppress protest marches. Only 5% said the aim was to look after National Guard members, while just 2% said the government was concerned about looking after citizens.

Writing on the news site etcétera, journalist Rubén Cortés said that the batons purchased are the same kind that the military police use to “beat protesters.”

“And [the National Guard] had already bought 2.8 million tear gas grenades,” he added.

“The irrefutable fact is that the militarization of 200 civil institutions in Mexico is now going hand in hand with an army and National Guard arms race. They are weapons for domestic use, to use against citizens and not for national defense,” Cortés wrote.

With reports from El Universal

In Mexico, I had to master the art of the 2-minute shower

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Joseph Sorrentino

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January 23, 2023

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“Why,” you may reasonably ask, “is it important to know how to take a two-minute shower?”

Because, like me, you may one day have an apartment in Mexico where the hot water cuts off in about a minute. Well, to be honest, the hot water probably cuts off in just a bit over 45 seconds, but let’s not quibble. And before diving into today’s lesson, let me say that despite the challenges and the rapidity with which I have to wash myself now, the situation in my apartment is a vast improvement over what I had before, when I had no water at all. (On a daily basis, I carried up two 10-liter jugs of water from a well whose water temperature hovered a notch or two above freezing and then heated it on the stove to bathe with.)

Here are a few tips I want to pass on should you find yourself in a situation when hot water is at a premium.

The first thing I must do when showering, obviously, is turn on the hot water, which starts out very cold and turns scalding in a stunningly short period of time. Learning just how fast it happens was a painful lesson I unfortunately had to learn more than once.

Just before it reaches scalding, I quickly turn on the cold water. Now, here it takes some real nuanced knob-turning because too much and the water’s too cold, too little and it’s scalding. Remember, I’m in a race against time, and fiddling with knobs is going to eat up precious seconds.

After turning on the hot water (which, remember, in my case starts out very cold), it’s critical to collect some water in a small bowl. This is critical because soaping up means your hands have soap on them. Ever try turning a shower knob with soapy hands? I have. Not easy. In fact, it’s damn near impossible. There have been days when I’ve forgotten that bowl of water and almost resorted to walking out and getting a wrench. If things have gone reasonably well, which means I’m wet and can now soap up, I move on to the next part. Now the real fun begins.

Turn on the hot and cold water at the same time. Hope that the temperature’s fairly close to optimal; you’re not going to have much time to adjust it.

Grab the soap — gotta clean that face — rinse quickly and grab the shampoo. Now, here it may be a good idea, especially if your shampoo bottle’s more than half-empty, to keep the bottle upside down. You don’t want to lose more precious seconds waiting for the shampoo to slowly drip down.

Lather up that head and begin rinsing off. All of this should not take more than 30 seconds — unless you want to rinse off in ice-cold water.

With luck, and a lot of practice, you’ll master the art of the two-minute shower. Sure, you may miss the sensation of lingering under a torrent of hot water, but just think of all the things you can do with the time you’ve saved by jumping in and out of that shower like a grasshopper.

Being an unrepentant optimist, I’m convinced, daily, that one day, Juan, my landlord and good friend (despite being a Cowboys fan), will fix the problem and I’ll have plenty of hot water. I believe this because whenever I bring it up, he promises to fix it mañana. And when mañana comes, he’ll fix it por la tarde: in the afternoon.

Sometimes my raging optimism convinces me that Juan has finally corrected the problem; there are days when I seem to have an abundance of hot water. And then I make the fatal mistake: I stay a few seconds too long in there.

I’ll be enjoying the warm water, reminding myself to thank Juan for finally taking care of my request, when, without warning, the water turns ice-cold.

When this happens — it’s particularly unpleasant in the winter — I simply console myself by imagining that what I actually have is a Japanese bath, the one where you soak in a hot tub and then plunge into the cold tub. People pay a lot of money for those things, and here it comes with an apartment that’s only costing me US $185 per month.

Like I said: I’m a raging optimist. So I consider myself lucky.

Joseph Sorrentino, a writer, photographer and author of the book San Gregorio Atlapulco: Cosmvisiones and of Stinky Island Tales: Some Stories from an Italian-American Childhood, is a regular contributor to Mexico News Daily. More examples of his photographs and links to other articles may be found at www.sorrentinophotography.com He currently lives in Chipilo, Puebla.

CDMX Metro station evacuated after it fills with smoke

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MND Staff

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January 23, 2023

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Metro Line 7 accident 1-23-2022 — Stranded passengers who had to evacuate the closed Metro station were transferred onto buses. (Metro/Twitter)

Eighteen people were hospitalized for smoke inhalation Monday after a Mexico City Metro station filled up with smoke due to an apparent short circuit.

The incident occurred at the Barranca del Muerto station on Line 7 of the Metro system at about 10:50 a.m.

Mayor Claudia Sheinbaum said on social media that 18 people were assessed for smoke inhalation at the San Ángel Inn Hospital. She said that none were seriously ill and later reported that all 18 had left hospital.

Mexico City Civil Protection authorities reported earlier that a total of 30 people were treated for smoke inhalation but that 12 of that number didn’t require hospitalization.

At a press conference late Monday afternoon, Metro Director Guillermo Calderón announced that the incident had been caused by overheating on the track due to a traction cable being missing. He explained that the 750-volt traction cable system is made up of nine cables, but upon inspection, only eight were found.

smoke in metro station — A missing traction cable on the Barranca del Muerto station in the Álvaro Obregón station track caused overheating and eventually, thick smoke, Metro officials said. (Twitter)

Passengers on a train passing through Barranca del Muerto reported hearing an explosion before a thick blanket of smoke filled the station.

Train service was suspended between the Barranca del Muerto and San Pedro de los Pinos stations, but had resumed by mid afternoon. Metro officials said that the incident — which it described as an “atypical event” — was referred to the Mexico City Attorney General’s Office (FGJ) for investigation.

Lía Límón, mayor of the Álvaro Obregón borough in which the Barranca del Muerto station is located, claimed in a video message that the incident was related to a lack of funding for the Metro system.

“The National Guard is useless here,” she said, referring to the recent deployment of over 6,000 troops to provide security in the Metro system.

Metro Director Guillermo Calderon (center) — Metro Director Guillermo Calderón, center, closed Line 7 for part of Monday to lead an inspection to determine the incident’s cause.

“What’s needed are resources to provide maintenance to the Metro,” Límón said.

Monday’s incident came two weeks after a fatal accident involving two trains on Line 3 of the Metro system and a week after two adjoining cars of a train became detached from each other at Polanco station on Line 7.

Authorities have suggested that recent “atypical” incidents were the result of sabotage, and Sheinbaum has expressed confidence that the FGJ will hold those responsible accountable for their actions.

A recent poll indicated that the recent fatal Metro crash had a negative impact on the reputation of the mayor, who denies claims that the subway system is underfunded.

But incidents on the capital’s Metro system in the past two years have tarnished the administration of Sheinbaum, who took office in late 2018.

In addition to this month’s accident and incidents, an overpass collapse on Line 12 claimed the lives of 26 passengers in May 2021. A police officer died in a fire in the subway system’s downtown substation in January of the same year.

With reports from El País, El Financiero, Infobae and Reforma

Ex-mayoral candidate and family slain on Veracruz-Xalapa highway

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MND Staff

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January 23, 2023

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Fernando Perez Vega — Fernando Pérez Vega's car was riddled with bullets by gunmen, who killed him, his wife and two children. Authorities blame an unknown organized crime group for their deaths, saying it was a case of settling scores. (Photo: Twitter)

Six people, including two children and their parents, were killed Sunday in an armed attack in the port city of Veracruz.

Gunmen traveling in at least three vehicles opened fire on the Veracruz-Xalapa highway near the Veracruz International Airport, killing five people in a pickup truck and a man in a taxi, according to reports.

The Veracruz Ministry of Public Security (SSP) acknowledged the six deaths in a social media post, noting also that one other person was wounded. It said that state and federal forces were carrying out an operation to apprehend the aggressors and “guarantee order and social peace.”

“… We urge citizens to keep calm,” the SSP added.

Reports have identified Fernando Pérez Vega, his wife and their two children as among the victims of Sunday’s attack. The pickup truck in which they and one other adult were traveling was riddled with scores of bullet holes.

Pérez, known as “El Pino,” ran as a candidate for mayor in the Veracruz municipality of Coxquihui in 2021 and was allegedly a leader in a criminal organization, according to a report by the news website Infobae.

Extortion, kidnapping and homicides are among the crimes allegedly committed by “El Pino,” who reportedly attended a political event in Boca del Río before he and his family were murdered.

Pérez’s brother, Reveriano Pérez Vega, known as “El Pelón,” served as mayor of Coxquihui on two occasions and has also been accused of being the leader of a crime group Los Pelones, of which Fernando Pérez was also allegedly a leader.

Veracruz Governor Cuitláhuac García said on social media that evidence indicated that Sunday’s attack was a “settling of scores between organized crime groups.”

Those groups have not been formally identified, but reports indicated that the Jalisco New Generation Cartel may have carried out the attack against Pérez.

According to the Defense Ministry (Sedena), Los Pelones are in a war for control of Veracruz with the CJNG and five other criminal groups, including the Sinaloa Cartel.

With reports from Infobae, El Financiero, La Silla Rota and Diario de Xalapa

Solar power plant progresses at CDMX wholesale market

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MND Staff

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January 23, 2023

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Though some solar panels have been mounted, plenty of open space remains above the Central de Abastos in Mexico City. (Gobierno de CDMX)

A solar power project under construction at Mexico City’s main wholesale market will be finished by the middle of the year, Mayor Claudia Sheinbaum said Sunday.

An 18-megawatt solar plant is currently being built on the rooftops of the Central de Abasto, located in the capital’s eastern Iztapalapa borough.

During a visit to the market to inspect the project on Sunday, Sheinbaum said that the plant will be fully operational by June or July.

A 1-megawatt section of the plant is expected to begin operations in the first week of February, while an additional eight megawatts are slated to come online in April.

Once completed, the 600-million-peso (US $31.8 million) plant will have the capacity to supply the market with about 30% of the electricity it consumes. The federal Energy Ministry contributed 500 million pesos to the project, while the Mexico City government provided the other 100 million pesos.

On Twitter, Sheinbaum wrote that the project would help to reduce greenhouse gas emissions and strengthen Mexico’s “energy sovereignty.”

“Ciudad Solar,” or Solar City, the mayor said, is the largest photovoltaic power plant of its kind in the world.

Over 30,000 Chinese-made solar panels will eventually be installed on the rooftops of the Central de Abasto, which covers an area equivalent to the size of some 400 football fields.

Fadlala Akabani, Mexico City’s minister of economic development, said that vendors in the sprawling market will see their electricity costs go down as the project progresses.

“All the Central de Abasto tenants will benefit, firstly with their [electricity] payments for common areas and secondly … their own bills [will go down],” he said.

With reports from Expansión

Illegal crossings of Mexico-US border up 40% in December

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MND Staff

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January 23, 2023

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A 16-year-old boy hoping to enter the U.S. approaches the barricades on the border between Chihuahua and Texas. (Cuartoscuro.com)

Migrants who crossed the Mexico-United States border between official ports of entry were stopped by U.S. authorities on over 250,000 occasions in December, an increase of over 40% compared to the same month of 2021.

United States Customs and Border Protection (CBP) reported Friday that there were 251,487 “encounters” along the southwest land border last month, a 40.3% increase compared to December 2021 and a 7% spike compared to November.

The figure — which includes migrants stopped on more than one occasion in December — is the highest for any month since U.S. President Joe Biden took office in January 2021.

CBP said that the number of unique individuals encountered along the border in December was 216,162, an 11% increase compared to November.

The agency said that “the large number of individuals fleeing failing communist regimes in Nicaragua and Cuba” contributed to the surge in illegal border crossings in December.

CBP encounters with Cubans increased more than fivefold on an annual basis to almost 43,000, while Nicaraguans were stopped on over 35,000 occasions in December, an increase of over 100% compared to a year earlier.

The surge in the arrival of Cubans and Nicaraguans came just before the Biden administration announced measures on Jan. 5 to deter their illegal entry to the United States.

Among the measures to enhance security and reduce unauthorized migration at the United States’ southern border is a commitment by Mexico to accept as many as 30,000 Venezuelan, Nicaraguan, Haitian and Cuban expelled asylum seekers per month.

CBP Acting Commissioner Troy Miller said that the number of Venezuelans unlawfully crossing the border declined significantly in late 2022, and “early data suggests the expanded measures for Cubans, Haitians, and Nicaraguans are having a similar impact.”

“… Importantly, we are continuing to see a shifting migration pattern, with individuals from Mexico and northern Central America accounting for just 24% of unique encounters in December, a significant drop from the 42% they represented a year ago, as more migrants arrived from countries like Cuba and Nicaragua,” he said.

Biden, who visited the United States’ southern border two weeks ago, has faced intense pressure from Republicans to do more to stop illegal immigration from Mexico.

The U.S. president, President López Obrador and Canadian Prime Minister Justin Trudeau made a number of commitments to address the issue after meeting at the North American Leaders’ Summit in Mexico City earlier this month, among which was to tackle the root causes of irregular migration and forced displacement.

Colorful but worn tents in front of the Rio Grande, with a highway overpass in the background. — A group of Venezuelan migrants camped in Ciudad Juárez in December, waiting for news on whether the U.S. immigration protocol Title 42 would be lifted. (Cuartoscuro.com)

Many migrants who attempt to enter the U.S. illegally first cross Mexico’s southern border with Guatemala. They then undertake a perilous journey through Mexico, traveling on foot, in cramped conditions in tractor-trailers and/or on a freight train colloquially known as “The Beast.“

Among the measures Mexico has taken to stem the flow of migrants through the country is the deployment of the National Guard and National Immigration Institute agents.

The federal government has also extended its “Youth Building the Future” apprenticeship scheme and the the “Sowing Life” reforestation/employment program to Central American countries as part of efforts to deter northward migration.

But with ongoing problems in Central America as well as in countries such as Venezuela, Cuba, Haiti and Peru, migrants have continued to illegally cross the Mexico-United States border in large numbers.

U.S. border officials apprehended migrants a record 2.2 million times in U.S. fiscal year 2022, which ended in September, while over 700,000 encounters were recorded in the first three months of FY 2023.

With reports from Associated Press

Mexico avocado exports to US buoyed by Super Bowl

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MND Staff

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January 23, 2023

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In Michoacán, Governor Alfredo Ramírez symbolically kicked off the first of several avocado shipments from his state intended to meet the guacamole cravings of millions of Super Bowl viewers. (APEAM)

Mexican producers will send up to 130,000 tonnes of avocado to the United States for the 57th edition of the Super Bowl, the Michoacán-based Association of Avocado Exporters Producers and Packers of Mexico (APEAM) reported on Wednesday.

Michoacán, Mexico’s biggest avocado producer has already sent its first shipment with a total weight of 64,101 tonnes. Although avocados are scheduled to arrive in the U.S. in February, shipment starts four weeks ahead.

The Super Bowl is the time of year when more avocados are consumed in the U.S. In 2022, Mexico supplied about 92% of U.S. avocado imports. On average, according to the US Department of Agriculture (USDA), Mexico supplies its northern neighbor with 1.02 million tonnes of avocados annually.

Symbolically, from the APEAM facilities in Uruapan, Michoacán, governor Alfredo Ramírez gave what he called “the initial kick” to the first shipment of avocados promoted by Avocados From México (AFM), the main avocados export brand for North America.

Ramírez literally kicked off the Super Bowl avocado season for his state by doing a mock football-styled “kickoff” on a miniature football field with a specially made football with the brand’s logo.

“This kickoff symbolizes that the industry always thinks about its final market, its consumer,” Ramírez said, referring to the U.S. market. “… There’s no other avocado in the world with this quality.”

The brand hopes to send more than 100,000 tonnes of avocados to U.S. consumers, enough to fill 30 million football helmets of guacamole, said AFM officials.

Mexican producers export 1.68 million tonnes of avocados per year worldwide — to 34 countries around the world; only Michoacán and Jalisco, however, are currently allowed to export avocados to the U.S.

Michoacán was the only state licensed to send avocados until July 2022, when the USDA certified Jalisco avocados for U.S. import. President of the Jalisco Avocado Export Association Javier Medina Villanueva said that it took them 10 years to get certified, as U.S. agricultural inspectors must verify that Mexican avocados don’t bring diseases or pests harmful to U.S. orchards.

At the time, APEAM head José Luis Gallardo said that he doesn’t see Jalisco, or any other Mexican states asking for U.S. export certification, as competition.

“Today is a day of joy for everyone, knowing that Jalisco is here, but it is going to be happier when the State of Mexico comes, when Nayarit, Colima, Puebla, Morelos come,” Gallardo said of the other states.

Mexico’s agriculture department said it is working to get certified.

With reports from Forbes and APEAM