Maize market in Mexico

Earlier Report Observations

From 2018 to 2019, Mexico's maize market volume jumped from 26.2 million t to 41.4 million t. This surge was primarily driven by a sharp increase in imports, which rose to 15.1 million t in 2019, as domestic consumption grew and supply outpaced demand, leading to higher inventories. Agricultural policies in 2018 had only moderate effects on production, maintaining the reliance on foreign supply, mainly from the United States, to meet internal needs.

Market volume fluctuated between 39.9 and 42.0 million t from 2020 to 2022. In 2020, rising maize prices likely tempered demand, contributing to a slight dip. The following year, stagnant yield growth and productivity 35% below the world average continued to necessitate imports, allowing volume to recover. A significant drop in domestic output by 3.5 million t occurred in 2022 due to droughts and insufficient public policies, compounded by a decline in imports from the U.S. The reinforced ban on commercial transgenic corn planting that year further limited national production, pulling total market volume down to 39.3 million t.

In 2023, the market volume reached a high of 44.1 million t, supported by record imports of 16.6 million t. Maize remained the crop with the largest harvested area in Mexico, underscoring its importance. However, structural challenges persisted, as seen in 2024 when white maize production in Sinaloa plummeted, solidifying Mexico's position as the world's largest maize importer due to ongoing domestic supply shortfalls and sustained internal demand.

Production maize in Mexico

In kind, 2018-2021, K t

On a global scale, Mexico ranked as the 7th largest producer of maize from 2018 to 2021.

Top producers of maize, 2018-2021

World map of production of maize, 2018-2021

Mexico's maize production volume increased for the third consecutive year. In 2021, Mexico produced 27 503 K t of maize, which remained virtually unchanged compared to the previous year.

Annual dynamics of production in Mexico in kind, 2018-2021, K t

Exports maize from Mexico

Exports in kind, K t

There were noticeable fluctuations in market performance during this period. The lowest maize export volume from Mexico was recorded in 2021 at 23 K t, showing a steep decrease of 97.7% versus the previous year. In contrast, the highest volume was reached in 2020 at 1 014 K t, with the largest annual increase of 4.7% also occurring that year. The peak-to-trough ratio between 2020 and 2021 was 44 times.

Annual dynamics of product's exports from Mexico in kind, 2018-2021, K t

From 2018 to 2021, Venezuela absorbed 81.2% of Mexico's total maize exports in kind, with the remaining share distributed across a wide range of smaller destinations.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Mexico in kind, 2018-2021

Exports in value, M $ US

Mexico's maize export value declined for the third consecutive year. In 2021, Mexico exported 22 M $ US of maize, marking a sharp decline of 88.7% compared to the previous year. Over the period from 2018 to 2021, exports decreased by 91.1%, with a compound annual growth rate (CAGR) of -55.3%.

Annual dynamics of product's exports from Mexico in value, 2018-2021, M $ US

From 2018 to 2021, Venezuela concentrated most of Mexico's maize exports in value terms, taking 75.6% of total flows, while other markets formed a fragmented tail.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Mexico in value, 2018-2021

Imports maize to Mexico

Imports in kind, K t

There were noticeable fluctuations in market performance during this period. The lowest maize import volume to Mexico was recorded in 2018, while volumes climbed to their maximum in 2019 at 15 115 K t, representing a 2372-fold shift between these years. In 2021, maize import volumes to Mexico reached 14 490 K t, up by 6.9% over the previous year. The largest annual increase was recorded in 2019 at 237 112.5%, while the largest decline occurred in 2020 at 10.3%.

Annual dynamics of product's imports to Mexico in kind, 2018-2021, K t

Throughout 2018 to 2021, the United States dominated the partner structure of Mexico's maize imports in kind, consistently accounting for 94.0% of total flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Mexico in kind, 2018-2021

Imports in value, M $ US

After a two-year decline, Mexico's maize import value increased. In 2021, imports stood at 4 312 M $ US, reflecting a sharp improvement of 39.6% compared to 2020. The minimum value was recorded in 2020 at 3 090 M $ US, with the largest annual decline of 3.1% also occurring that year. Between 2018 and 2021, imports increased by 32.5%, equating to an annualized growth rate of 9.8%.

Annual dynamics of product's imports to Mexico in value, 2018-2021, M $ US

From 2018 to 2021, Mexico's maize imports in value terms were almost completely tied to the United States, whose share amounted to 95.7% of total flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Mexico in value, 2018-2021