Maize flour and cereals market in Latin America and the Caribbean

Earlier Report Observations

The maize flour and cereals market in Latin America and the Caribbean grew in volume from 28 608 thousand tons in 2018 to 30 710 thousand tons in 2019, with market value rising sharply from $30 494 million to $39 744 million. This expansion was supported by increased agricultural production in the region, including larger cultivated areas and improved corn yields, which boosted raw material availability. Simultaneously, rising demand for gluten‑free and specialty flours, driven by health and wellness trends, contributed to both volume growth and premiumization.

The COVID‑19 pandemic in 2020 spurred home baking, sustaining demand for maize flour and helping keep market volume stable at 30 418 thousand tons, although market value dipped temporarily. Recovery followed from 2021 onward, with volume reaching 31 665 thousand tons by 2023. Continued growth in corn production in Brazil and Argentina, along with product innovations such as gluten‑free snacks and breakfast cereals launched by major companies, provided further momentum.

Throughout the period, ongoing technological upgrading and consolidation in Mexico’s milling industry enhanced efficiency, while import quota adjustments and regulatory changes helped secure supply. Fluctuations in international corn prices affected costs, but persistent demand for convenient and functional maize‑based products, including precooked flours and ready‑to‑eat items, underpinned the market’s upward trajectory.

Production maize flour and cereals in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

After two consecutive years of growth, maize flour and cereals production in Latin America and the Caribbean declined. In 2019, output reached its peak at 30 661 K t, but in 2020 it fell slightly to 30 600 K t, showing only marginal fluctuation from the previous year. Over the 2017-2020 period, production increased by 8.3%, with an average annual growth rate of 2.7%. The largest year-on-year increase occurred in 2019, when production rose by 7.0%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports maize flour and cereals from Latin America and the Caribbean

Exports in kind, K t

Export volumes showed significant volatility during this period. In 2019, exports hit their lowest point at 240.0 K t, but then surged by 120.5% in 2020 to reach 529.2 K t, marking the highest level recorded. The difference between the peak in 2020 and the trough in 2019 was 2.2 times. The largest decline occurred in 2019, when exports fell by 39.7%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, K t

From 2017 to 2020, the United States, Angola, and the Democratic Republic of the Congo remained the primary markets for maize flour and cereals exports from Latin America and the Caribbean. The United States accounted for 26.8% of export volumes, Angola for 20.8%, and the Democratic Republic of the Congo for 2.7%. Together, these three countries represented 50.3% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Export values exhibited volatility throughout the observed period. In 2019, exports reached their lowest point at 151.6 million US dollars, but then jumped by 114.5% in 2020 to 325.2 million US dollars, the highest value recorded. The difference between the 2020 peak and the 2019 low was 2.1 times. The largest decline occurred in 2019, when export values fell by 49.2%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

Between 2017 and 2020, the United States, Angola, and the Democratic Republic of the Congo continued to be the main markets for maize flour and cereals exports from Latin America and the Caribbean in value terms. The United States represented 30.8% of export value, Angola 12.2%, and the Democratic Republic of the Congo 1.6%. Collectively, these three countries accounted for 44.6% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports maize flour and cereals to Latin America and the Caribbean

Imports in kind, K t

Import volumes increased significantly over this period. In 2018, imports peaked at 349.3 K t, representing a 29.6% increase from the previous year. In 2019, imports declined by 17.3% to their lowest point, but then rebounded in 2020 to 347.2 K t, a 20.2% rise compared to 2019. Overall, from 2017 to 2020, imports grew by 28.8%, with an average annual growth rate of 8.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, K t

During the 2017-2020 period, the United States, Turkey, and Ukraine were the leading sources for maize flour and cereals imports into Latin America and the Caribbean. The United States accounted for 27.9% of import volumes, Turkey for 1.3%, and Ukraine for 0.8%. Together, these three countries made up 30.1% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

Import values showed strong growth from 2017 to 2020. In 2019, values declined by 21.6%, but then recovered in 2020 to reach 264.1 million US dollars, a 35.7% increase compared to the previous year. Over the entire period, imports increased by 36.2%, equivalent to an average annual growth rate of 10.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the United States, Turkey, and Ukraine accounted for the largest share of maize flour and cereals imports into Latin America and the Caribbean in value terms. The United States represented 29.1% of import value, Turkey 0.8%, and Ukraine 0.6%. Combined, these three countries comprised 30.5% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020