Mexico: Dairy and Products Annual
Link to report:
Calendar year 2020 has been an atypical year in Mexico for all dairy commodities. Production is growing at a steady pace, pushing milk producers to use their oversupply to produce more cheese and dairy products. Imports are suffering, as the adverse macroeconomic situation continues due to low oil revenues, pandemic measures, and a weak currency. In March and April, Mexico saw a steep decline in its dairy imports, as households’ shopping behavior was most constrained. In April and subsequent months, e-commerce substantially grew and some in-person retail economic activity returned, helping dairy imports rebound in June and July. Calendar year 2021 is expected to benefit all dairy products, as Mexico’s hotel, restaurant, and institutional (HRI) sector reopens and home delivery, take-away, and other retail solutions grow.
