News

The puzzle of agricultural imports: Why does Mexico import more but spend less?

Grains, Cereal & Legumes
Mexico
Market & Price Trends
Published Apr 16, 2024

Tridge summary

In the first two months of 2024, Mexico's imports of grains and oilseeds fell in value by 11.5% to $2,833 million despite a 12.8% increase in volume, reaching 7.8 million tons. Corn imports saw the most significant volume growth at 14.6%, reaching 4.03 million tons, but their value dropped by 21%, with the U.S. being the main supplier. Brazil's corn shipments to Mexico plummeted by 95%. Soybean imports increased by 13.6% in volume but decreased slightly in value by 2.3%. Wheat imports declined both in volume, by 1.6%, and in value, by 26%, compared to the same period in the previous year.
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 figures from the Agricultural Market Consulting Group (GCMA), during the first two months of 2024, Mexican imports of grains and oilseeds accumulated a total value of 2,833 million dollars, which was 11.5% lower compared to the year-on-year comparison. This occurred even though in terms of volume, the behavior was opposite, with a growth in foreign purchases of 12.8% over what was registered during the same period last year, totaling 7.8 million tons. YOU MAY BE INTERESTED: The climate crisis and the lack of public policies in Mexico would hit agri-food production this year Greater purchases to satisfy Mexican demand The item that presented the greatest increase was corn, with 4.03 mt., an amount that was 14.6% higher than that registered during the same period of 2023; Its value presented a reduction of 21%, to 931.6 million dollars. In this section, yellow grain had a majority participation, with 3.9 mt., coming mainly from the United States, which increased ...
Source: Ganaderia
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