Mexico Overtakes China as Top Market for U.S. Food and Agriculture Exports
Source: DairyNews.today
In fiscal year 2024, U.S. food and agricultural exports to Mexico surged by 7%, positioning Mexico as the largest export market for American-grown food, according to Census Bureau data tracked by the USDA.
This rise in exports displaced China, which fell to third place behind Canada after leading U.S. ag exports since the conclusion of the Sino-U.S. trade war.
Total shipments to Mexico reached $30 billion, marking a $2 billion increase from 2023. This record included 24.5 million metric tons of corn, amounting to 40% of all U.S. corn exports for the year. Canada followed closely with $29 billion in purchases, while China imported $25.7 billion worth of U.S. food and agricultural products.
Mexico and Canada combined accounted for one-third of the $173 billion total in U.S. food and ag exports for the year and are projected to retain the top two spots in fiscal year 2025, with China expected to remain third as Brazil continues to increase its share of the Chinese market. U.S. exports to Mexico were led by corn, soybeans, dairy products, and pork.
The U.S. has also challenged Mexico’s restriction on genetically engineered (GE) white corn imports, a ban that could significantly impact future trade. Newly elected Mexican President Claudia Sheinbaum has introduced a national food sovereignty plan aimed at increasing domestic production of non-GE white corn and beans. “It’s about producing what we eat,” she stated.
According to a USDA world grain market report, the volume of U.S. corn exported to Mexico in fiscal 2024 represented the largest single-year trade volume to any destination in history, driven by high demand following drought-induced reductions in Mexico's domestic corn crop. While a larger domestic crop is expected this year, Mexico’s corn imports are still projected to reach 24 million metric tons.
Mexico is also exploring a potential constitutional amendment that would ban GE corn for human consumption and cultivation, requiring any GE corn kernels imported for purposes like animal feed to be cracked first. Despite these regulatory shifts, the USDA reports that demand for corn by Mexican end users remains strong.
Meanwhile, the USDA recently adjusted its estimates for U.S. crop yields, reducing the projected corn crop to 15.143 billion bushels and the soybean crop to 4.461 billion bushels, citing dry weather during the late growing season. These adjustments represent a decrease of 60 million bushels for corn and 121 million bushels for soybeans. However, these crop sizes are still expected to rank among the largest on record, with corn estimated as the third-largest and soybeans as the second-largest crop in U.S. history.
Total shipments to Mexico reached $30 billion, marking a $2 billion increase from 2023. This record included 24.5 million metric tons of corn, amounting to 40% of all U.S. corn exports for the year. Canada followed closely with $29 billion in purchases, while China imported $25.7 billion worth of U.S. food and agricultural products.
Mexico and Canada combined accounted for one-third of the $173 billion total in U.S. food and ag exports for the year and are projected to retain the top two spots in fiscal year 2025, with China expected to remain third as Brazil continues to increase its share of the Chinese market. U.S. exports to Mexico were led by corn, soybeans, dairy products, and pork.
The U.S. has also challenged Mexico’s restriction on genetically engineered (GE) white corn imports, a ban that could significantly impact future trade. Newly elected Mexican President Claudia Sheinbaum has introduced a national food sovereignty plan aimed at increasing domestic production of non-GE white corn and beans. “It’s about producing what we eat,” she stated.
According to a USDA world grain market report, the volume of U.S. corn exported to Mexico in fiscal 2024 represented the largest single-year trade volume to any destination in history, driven by high demand following drought-induced reductions in Mexico's domestic corn crop. While a larger domestic crop is expected this year, Mexico’s corn imports are still projected to reach 24 million metric tons.
Mexico is also exploring a potential constitutional amendment that would ban GE corn for human consumption and cultivation, requiring any GE corn kernels imported for purposes like animal feed to be cracked first. Despite these regulatory shifts, the USDA reports that demand for corn by Mexican end users remains strong.
Meanwhile, the USDA recently adjusted its estimates for U.S. crop yields, reducing the projected corn crop to 15.143 billion bushels and the soybean crop to 4.461 billion bushels, citing dry weather during the late growing season. These adjustments represent a decrease of 60 million bushels for corn and 121 million bushels for soybeans. However, these crop sizes are still expected to rank among the largest on record, with corn estimated as the third-largest and soybeans as the second-largest crop in U.S. history.
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