Mexico will need to import 1 million tons of chicken meat in 2024 to cover domestic demand

Frozen Whole Chicken

Meat

Mexico

Market & Price Trends

Published Feb 16, 2024

Tridge summary

Mexico's poultry production is expected to increase by 2% to 4 million tons in 2024, driven by lower cereal and production costs, despite potential volatility in input costs and policy shifts due to geopolitical conflicts and presidential elections. Chicken meat consumption is also projected to rise by 3% to 5 million tons, with imports growing by 4% to meet demand. However, the U.S. has seen a decrease in its market share of Mexican poultry imports from 95% in 2021 to 80% in 2023, with Brazil and Chile filling the gap.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

According to the latest report on the evolution of poultry production in Mexico made by the USDA, the country will reach a production of 4 million tons in 2024, 2% more than in 2023 due to a drop in the costs of cereals and of other productive costs. Despite high interest rates, capital investment and expansion in the poultry sector is expected to continue growing due to a faster return on investment compared to the beef and pork sectors. Concerns about production in 2024 include any volatility in input costs due to global geopolitical conflicts. Additionally, there may be unforeseen shifts in trade, production, or macroeconomic stability policies due to the presidential elections in both Mexico and the United States. Veracruz led the production of chicken meat, followed by Jalisco, Aguascalientes, Querétaro and Chiapas. These five states represented more than 50% of Mexico's production. Guanajuato and Puebla continue to be growing contributors to the sector. Poultry farming ...

Source: Agromeat