Mexico’s corn imports could break annual record

Mexico’s imports of corn, mostly from the U.S., are on track to break their annual record potentially reaching 17.9 million metric tons by the end of the year according to experts’ estimates. This occurs amid growing demand for animal feed and despite the Mexican government’s early calls for self-sufficiency.

• ESTIMATES: Propelled by increased use of corn as livestock feed, Mexico’s imports of corn peaked in 2018 at 17.1 million metric tons according to estimates agricultural consulting group GCMA. More than 90 percent of Mexican imports are of U.S. genetically-modified yellow corn.

• MARKETS: “Global trade is higher than last month as larger (corn) exports for Argentina and the United States outweigh cuts to Brazil, Russia, and Serbia. Global (corn) imports are up on raises to Canada and Mexico”, the U.S. Department of Agriculture said earlier this month in its regular world markets report.

• GOVERNMENT: Late in 2020, the Mexican government ordered the phasing-out of genetically-modified corn for human consumption by 2024. Earlier this year, the U.S. Secretary of Agriculture, Tom Vilsack, said that he had received assurances that the decree does not cover corn imports for animal feed.

Source: Mexico Today