Mexico to waive wheat tariffs as 2024/25 wheat imports hit record

The U.S. Department of Agriculture forecasts that Mexico's wheat imports will reach a record high of 5.8 million tons in the 2024/25 season, marking a significant increase from the 5.29 million tons of the previous year. This is due to a projected decrease in domestic wheat production, which is estimated to drop to 2.6 million tons, its lowest level since 1980/81 with a significant decrease from the previous year's 3.48 million tons.