Browse Data and Analysis

On April 17, 2024, the Government of Mexico published a law in the Official Gazette to establish mandatory warning labeling for products containing genetically engineered ingredients and to enshrine socioeconomic considerations into national food policy.

Post forecasts Mexico’s sugar production at 5.5 million metric tons raw value (MMT-RV) for marketing year (MY) 2024/25 (October 1 – September 30), 13 percent higher than the estimate for MY 2023/24.

Mexico’s oilseed crush in marketing year (MY) 2024/25 is forecast to increase due to higher vegetable oil and animal feed demand. Forecast economic growth and lower interest rates are expected to drive production of oil and meal and increase Mexico’s soybean and rapeseed imports by four percent and seventeen percent, respectively.

Mexico’s 2024 avocado production is forecast at 2.77 million metric tons (MMT), a five percent increase over 2023 on strong export demand. Production in 2023 reached 2.65 MMT, up four percent compared to the previous year.

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.

On January 25, 2024, the Government of Mexico implemented a decree modifying provisions of the Federal Labor Law and the Social Security Law related to agricultural labor rights.

Mexico’s chicken meat production is forecast to exhibit continued growth in 2024 due to increased private investment in the sector. Imports are also forecast to increase, driven by robust domestic demand.

Mexico’s 2024 federal government budget for the Secretariat of Agriculture and Rural Development (SADER) is USD 4.3 billion, a five percent increase compared to the 2023 budget.

Corn and wheat production for marketing year (MY) 2023/2024 are forecast lower based on less planted area and unfavorable weather conditions. Rice and sorghum production are forecast to increase.