Mexico: Cereal Market 2024

Cereal Market Size in Mexico

The Mexican cereal market expanded slightly to $X in 2022, increasing by X% against the previous year. In general, consumption, however, recorded a slight descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cereal Production in Mexico

In value terms, cereal production declined modestly to $X in 2022 estimated in export price. In general, production showed a deep downturn. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Cereal production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average yield of cereals in Mexico contracted to X tons per ha, flattening at the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. Over the period under review, the average cereal yield reached the maximum level at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cereals were harvested in Mexico; approximately equating 2021. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. The cereal harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area remained at a lower figure.

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Cereal Exports

Exports from Mexico

In 2022, cereal exports from Mexico contracted remarkably to X tons, shrinking by X% against the previous year's figure. Over the period under review, exports faced a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, cereal exports reduced remarkably to $X in 2022. In general, exports faced a deep downturn. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Algeria (X tons) was the main destination for cereal exports from Mexico, accounting for a X% share of total exports. Moreover, cereal exports to Algeria exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by Venezuela (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Algeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Venezuela (X% per year).

In value terms, Algeria ($X) remains the key foreign market for cereals exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Honduras, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Honduras (X% per year).

Export Prices by Country

The average cereal export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal export price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Imports

Imports into Mexico

In 2022, overseas purchases of cereals increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cereal imports expanded significantly to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons) was the main supplier of cereal to Mexico, accounting for a X% share of total imports. Moreover, cereal imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%.

In value terms, the United States ($X) constituted the largest supplier of cereals to Mexico, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%.

Import Prices by Country

The average cereal import price stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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