AGP Executive Report

Caribbean Tourism: Meliá plans a 350-room Roatán resort with 145 branded residences, targeting a 2029 opening as the Honduran island attracts more hotel investment. Beverage Demand: Coca-Cola’s global case volume rose 5% in Q3, with Mexico and Brazil among the strongest growth markets. Colombia’s Consumer Costs: A proposed fiscal package would broaden VAT and raise levies on alcohol, tobacco, vaping products and sugary drinks. Retailers are also pressing the government to scrap a 40% clothing tariff, arguing it has encouraged smuggling rather than strengthening local businesses. Regional Retail: PriceSmart plans to open its first club in Cartagena in 2027. Food Brands: Colombia’s Nutresa has completed its acquisition of Venezuelan ice cream business Tio Rico.

Food & Health: A University of São Paulo study linked higher intake of six low- and no-calorie sweeteners with faster declines in memory and thinking skills; it found an association, not proof of cause and effect. Banana Prices: Industry warnings point to potentially higher prices in 2027 as production and shipping costs rise and weather threatens crops. Media: TelevisaUnivision’s third-quarter revenue rose 9% to $1.38 billion, helped by World Cup advertising in Mexico and growth at streaming service ViX, despite weaker U.S. ad sales. Retail: Colombia’s Rifle is targeting 13% growth as Shein and Temu intensify competition in fashion. Consumer Goods: Brazil’s shoe industry is losing export ground as imports rise, while authorities step up a crackdown on counterfeit toys. Produce: A strike by small avocado growers is cutting Mexican exports to the United States.

Food Safety: A new investigation found the FDA inspected only about 2% of Mexican facilities exporting produce to the U.S. since 2009, raising concerns after a lettuce-linked Cyclospora outbreak sickened more than 20,000 people. Trade & Supply: Costa Rica dropped its bid to join a Pacific trade pact, citing risks to dairy, livestock and small fruit and vegetable producers. A strike by Mexican avocado growers is also cutting U.S.-bound shipments. Brands & Retail: Colombia’s Rifle is targeting 13% growth as Shein and Temu reshape fashion competition, while Brazil’s shoe industry loses export ground as imports rise. Beauty Logistics: Coty is shifting more product transport from air to sea and rail, and has deployed three electric vehicles for factory-to-distribution runs in Goiânia, Brazil.

Retail & Beverages: FEMSA reported third-quarter revenue growth of 9.8%, with OXXO Mexico up 10.3%. Its Spin wallet gained users, while loyalty membership also grew. Beauty & Home Care: Unilever lifted its full-year outlook after stronger sales, led by beauty and home care and growth in emerging markets; food sales lagged. Trade & Food Supply: India and Mexico formally launched talks on a preferential trade pact that could open new market access for goods. In food, Venezuelan cacao won recognition at a Paris chocolate event, while Mexico’s strawberry season faces pressure from extended California supply and weather risks. Regional Sourcing: Brazil’s bumper apple crop is supporting export growth, even as higher freight costs and adverse weather tighten mango supplies ahead of the festive season.

Beverages: Coca-Cola’s third-quarter revenue rose 7% to $13.38 billion, with global drink volumes up 5%. The company raised its full-year earnings outlook again, though higher costs and flat U.S. sales remain pressure points. Household Budgets: Brazil’s central bank says household loan delinquency is at its highest level since 2012, with payment pressure expected to persist. Poorer households are especially exposed, spending a much larger share of income on credit-card debt. Food Supply: Brazil’s poultry exports face disruption after another Newcastle disease case, while Mexico has suspended Brazilian poultry imports. Regional Expansion: Jamaica’s National Bakery named Craig Hendrickson CEO as it targets sales growth and more efficient operations; its products already reach markets across the Caribbean, the U.S., Canada and the U.K. Energy Costs: Colombia has again ordered natural-gas rationing after a technical problem at its sole LNG import terminal, prioritizing essential users and some industry.

Beverages: Coca-Cola beat third-quarter expectations and raised its full-year outlook, with Latin America sales up 6% even as North American volume stayed flat. Food Supply: Scoular and Mexican miller Grupo Trimex expanded their regenerative wheat program to 35,000 acres and 40 growers, up from 5,000 acres and 12 growers in 2024. Digital Media: Instagram is testing 90-minute horizontal videos, following an initial trial with creators in Brazil, as it pushes beyond short clips. Gaming Rules: Buenos Aires Province is weighing an online betting ban modeled on Brazil’s new restrictions, a potential shift for operators and customers. Brazil’s Economy: Lula’s reelection sparked a sharp selloff in Brazilian stocks and the real, putting economic uncertainty back in focus for businesses and consumers.

Food Retail: Mexico’s Grupo Bafar posted record third-quarter sales of 8.89 billion pesos, up 11.5% year over year, as its food division expanded company-run stores and higher-value products. Cross-Border Spending: Transfers from Colombia through Global66 tripled year over year to more than $225 million in Q3, reflecting growing activity on the fintech platform. Auto Demand: Colombian imports jumped 31.7% in August; vehicles, parts and accessories led the increase, with China and South Korea gaining ground as suppliers. Export Push: Venezuela will take 42 companies to China’s import expo, showcasing coffee, cocoa, seafood, rum and other products. Supply Chains: Mexican truckers launched a nationwide strike over highway security and rising costs, raising concerns about freight disruption for retailers and food suppliers. Regional Brands: Mexico’s La Newyorkina is expanding internationally and launching e-commerce, while Brazil’s bumper apple crop is boosting exports.

Nutrition: Edesia expanded its Rhode Island factory to 300,000 square feet, aiming to reach 10 million children a year with therapeutic food, including in Latin America. Bananas & Food Costs: Chiquita warns El Niño and higher fuel, fertilizer and packaging costs could make 2027 one of the toughest years for banana suppliers in decades; talks with retailers are focused on securing supply. Brazil Markets: Lula’s reelection triggered a sharp selloff, with trading briefly halted and MercadoLibre shares down 15% amid investor concerns over policy and borrowing costs. Digital Payments: MAJORITY launched 24/7 cross-border payments to Latin America, letting eligible U.S. users send dollars that family members receive as USDC in the app. Retail Expansion: Turkish fashion retailer LC Waikiki is entering Argentina with a local partner, extending its regional footprint.

Brazil’s Consumer Outlook: Lula’s re-election brings another term amid high public debt, sticky inflation and elevated interest rates. The economic challenges could keep pressure on household budgets, even as inflation eases. Food Access: Venezuela’s Plan Venezuela Alimenta is promoting locally made food, with more than 90% of products domestically produced; food fairs in La Guaira distributed 238 tonnes. Retail & Products: Popeyes is expanding in El Salvador with a new drive-through, YSL Beauty has opened its first São Paulo store, and Apple’s new iPhone range is on sale in Mexico, though walk-in stock is limited. Produce Trade: Colombia’s Hass avocado growers report exports fell 42%, a setback for a key regional food export.

Brazil’s Cost-of-Living Vote: More than two-thirds of Brazilians polled said their purchasing power had fallen from a year earlier, as inflation and food prices shape Sunday’s runoff. Venezuela’s Food Push: The government says more than 90% of products in its new Venezuela Alimenta plan are domestically produced; food fairs in La Guaira distributed 238 tonnes. Beauty Retail: YSL Beauty opened its first São Paulo store as it increases investment in Brazil. Mexican Avocado Trade: Imports generated an estimated $641.5 million in U.S. transport and warehousing activity in 2025–26, with nearly 98% of shipments entering by truck through Texas.

Beauty Retail: YSL Beauty opened its first South American store in São Paulo, bringing its full makeup and fragrance range—and an exclusive perfume collection—to Brazil’s large fragrance market. Food Supply: Venezuela launched its Venezuela Alimenta plan, saying more than 90% of food products sold are domestically made; 11 new Mercal and PDVAL outlets are also opening. Mexican Brands: Corona, brewed in Mexico since 1925, ranked as the most popular beer in a US consumer survey. Manufacturing: Nestlé is committing another US$1 billion to expand manufacturing in Mexico, while Chinese automakers are stepping up plans for local production in Brazil. Food Trade: Newcastle disease has prompted Mexico to suspend Brazilian chicken imports, adding pressure to poultry exporters already facing restrictions in other markets. Food Portfolio: Grupo Nutresa has added restaurant chain Presto as Gilinski expands his food holdings.

Retail & Brands: Apple’s latest iPhones went on sale in Mexico, while Superdry is entering Argentina, adding new competition in two consumer markets. Nestlé also pledged another US$1 billion for Mexican manufacturing. Food Trade: Brazil’s fruit exporters could gain from the Mercosur-EU deal, and egg exports rose 29% in September. But Mexico suspended Brazilian chicken imports after a Newcastle disease outbreak, creating a fresh hurdle for poultry trade. Food Prices: Brazil’s consumer prices rose 0.32% in mid-October, while shrinking wheat harvests could push imports to a 30-year high. In Peru, El Niño-related mango shortages are driving prices higher. Food Retail: Colombia’s Grupo Nutresa added burger chain Presto to its portfolio, expanding its footprint in the country’s restaurant market.

Retail Expansion: Vallarta Supermarkets opened its 66th store in Duarte, California, drawing hundreds of shoppers before the doors opened. New Products: Apple’s first foldable phone, the iPhone Duo, went on sale in Mexico, one of its first markets worldwide. Food & Beverage: Colombia’s Grupo Nutresa agreed to acquire burger chain Presto, adding the 45-year-old brand to its growing restaurant portfolio. Brazilian Exports: Fruit shipments are on track for a record year, with Mercosur-EU tariff cuts helping open up European demand. Food Trade: Mexico suspended Brazilian poultry imports after a Newcastle disease outbreak, adding pressure to Brazil’s export business.

Prices: Brazil’s mid-October inflation slowed to 0.32%, below forecasts, but annual inflation edged up to 4.62%, keeping grocery affordability in focus. Food Ingredients: Kerry’s Americas volumes grew 4% over nine months and 4.6% in the third quarter, with Mexico’s snacks and drinks among the bright spots. Produce: Colombian Hass avocado exports fell 42%; Mexican avocado imports generated $7.1 billion in U.S. economic activity, while oversupply is weighing on Peruvian shipments. Poultry: A Newcastle disease outbreak prompted Mexico to suspend Brazilian chicken imports, adding to export pressure as Saudi restrictions also bite. Manufacturing: Nestlé committed another $1 billion to Mexican manufacturing, while Chinese automakers are moving production closer to Brazilian customers as demand for electrified vehicles rises.

Household Costs: Oil climbed to a five-month high as attacks raised supply fears, adding pressure to fuel and shipping costs that can feed through to consumer prices. Food Supply: Colombia’s Hass avocado growers report exports fell 42% by September, citing adverse weather, higher costs, a stronger peso and less fruit available for export. Mexico has also suspended Brazilian poultry imports after a Newcastle disease outbreak. Retail Expansion: Popeyes opened another drive-through in El Salvador, extending its regional footprint. Trade: Costa Rica’s U.S. dairy imports surged 69% after tariffs were removed, reshaping competition in the market.

Poultry Trade: Mexico suspended Brazilian chicken imports after a Newcastle disease outbreak, while the EU is preparing a November vote on restoring Brazil’s poultry and honey access after a separate compliance suspension. Avocado Supply: Mexican Hass imports generated US$7.1 billion in US economic output and supported more than 37,000 jobs in 2025/26, as shipments reached a record. Food Costs: Fresh-produce businesses worldwide report steep increases in fuel, freight, fertilizer and packaging costs, and most expect prices to rise further. Fyffes has also warned about the costs facing banana producers. Industry Moves: Nestlé plans another US$1 billion investment in Mexican manufacturing, while Brazil’s M. Dias Branco bought a majority stake in bakery group Grespan. Shopper Outlook: Brazilians continue to feel squeezed at the grocery store, even as Colombian households keep spending without taking on much more debt.