Mexico: Rice Market 2024

Rice Market Size in Mexico

In 2022, the Mexican rice market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Rice Production in Mexico

In value terms, rice production expanded to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible increase 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The average yield of rice in Mexico reduced modestly to X tons per ha in 2022, standing approx. at 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the yield increased by X% against the previous year. The rice yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the rice harvested area in Mexico rose remarkably to X ha, increasing by X% against 2021 figures. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2021 to 2022, the growth of the rice harvested area failed to regain momentum.

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Rice Exports

Exports from Mexico

In 2022, overseas shipments of rice decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a noticeable slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, rice exports contracted modestly to $X in 2022. Overall, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for rice exports from Mexico, accounting for a X% share of total exports. Moreover, rice exports to the United States exceeded the volume sent to the second major destination, El Salvador (X tons), sevenfold. The third position in this ranking was taken by Belgium (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (X% per year) and Belgium (X% per year).

In value terms, the United States ($X) remains the key foreign market for rice exports from Mexico, comprising X% of total exports. The second position in the ranking was held by El Salvador ($X), with an X% share of total exports. It was followed by Belgium, with a X% share.

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

Export Prices by Country

In 2022, the average rice export price amounted to $X per ton, rising by X% against the previous year. In general, export price indicated a mild 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. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Belgium ($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 Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Imports

Imports into Mexico

In 2022, overseas purchases of rice decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, rice imports shrank rapidly to $X in 2022. Over the period under review, imports showed a pronounced setback. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Brazil (X tons) and Uruguay (X tons) were the main suppliers of rice imports to Mexico, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest rice suppliers to Mexico were the United States ($X), Brazil ($X) and Uruguay ($X), with a combined X% share of total imports.

Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average rice import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price posted a mild increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Uruguay ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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