Wednesday, April 24, 2024
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Mexico to Boost Corn Imports

Mexican corn imports are expected to rise during the 2024-2025 marketing year amid increased demand. USDA’s Foreign Agricultural Service says corn imports are forecast to increase five percent year-over-year to 22 million tons to meet the Mexican government’s forecast of an increasing demand for starch and animal food production.

Mexico is the world’s second-largest grain importer behind only China. Successful Farming says relatively lower forecast corn prices compared to the previous year and growing demand from livestock producers and processors will drive up corn imports. The U.S. accounted for more than 85 percent of Mexico’s corn imports. Mexican corn production in the 2024-2025 marketing year starting on October 1 is forecast to jump seven percent to 25 million metric tons due to increased planted area and less abandonment.

“Optimism about returning to average rainfall and moisture levels after exceptional drought is expected to incentivize farmers to increase their planted area,” USDA says.

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