Browse Data and Analysis

Post forecasts marketing year (MY) 2024/25 production at 0.91 million 480-lb bales, basically flat compared to MY 2023/24 due to high input costs, drought conditions, power outages, and lack of access to new genetically engineered seed varieties.

In 2023, Mexico imported $51 billion of food ingredient products, of which 63 percent were sourced from the United States. Mexico’s food processing industry is the second largest in Latin America, behind Brazil, making Mexico a top destination for U.S. food ingredients.

Lower feed prices are expected to boost producer profits in 2024, thereby increasing domestic beef and pork production. Beef imports are forecast to decrease, and pork imports are expected to remain nearly flat.

The outlook for Mexican grain production in marketing year (MY) 2024/2025 is higher year-on-year for corn, wheat, rice, and sorghum based on farmer planting decisions on more average weather conditions and a gradual recovery from exceptional drought conditions.

Interactive Tableau visualization showing what percentage of U.S. agricultural exports go to each of the top markets.

With a growing population and a market-oriented agricultural and food sector that is open to international trade, Mexico is an important agricultural trading partner for the United States. In 2021, exports of U.S. agricultural and related products to Mexico totaled $25.5 billion, showing an increase of 34.9 percent versus 2020 when U.S. agricultural and related exports to Mexico totaled $18.9 billion.