As the total grain production expected to grow in Mexico, local prices expected to fall.

Mexico is forecasting to boost its total grain production this year, mainly rice and wheat, due to high global commodity prices and local government programs incentivizing farmers to produce basic grains. Such production growth is estimated at 4% this year, demand for feed grain is forecast to increase around 2%. In comparison, consumption is expected to grow slower by about 1% because of the pandemic. Due to such production growth, it is also expected that the local prices of grains decrease.