The Foreign Agricultural Service (FAS) of the US Department of Agriculture predicts that Mexican farmers will plant more corn in response to a severe drought and increased demand for white corn. This could result in a 7% increase in harvest, reaching 25 million tonnes for 2024-25. However, planting levels are still expected to be below the 10-year average due to recovery from drought conditions. Corn imports are also projected to rise by 5% to 22 million tonnes in 2024-25, driven by growing demand for starch and animal feed production.
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Coming off a severe drought and sensing greater demand for white corn, optimistic producers in Mexico are expected to plant more area to corn, giving impetus to a harvest forecast of 25 million tonnes for 2024-25, according to the Foreign Agricultural Service (FAS) of the US Department of Agriculture. In its March 19 Global Agricultural Information Network (GAIN) report, the FAS said the forecast, if realized, would be 7% higher than the estimated 23.3 million tonnes produced in 2023-24, though still less than the 28 million tonnes harvested in 2022-23. “Optimism about a return to average rainfall and moisture levels after a year of exceptional drought is expected to incentivize farmers to increase their planted area,” the FAS said. “Likewise, a return to average rainfall would reduce damaged hectares, given that 78% of domestic corn production is rainfed.” The FAS is forecasting harvested area for 2024-25 at 6.4 million hectares, up 5% year-on-year. Despite the expectation of a ...
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