Mexico: Poultry and Products Annual

Post forecasts Mexico´s chicken production in 2022 at 3.9 million metric tons (MT) Ready-to-Cook Equivalent (RTC), up 4 percent from 2021 due to greater domestic demand. Domestic consumer demand for chicken meat, eggs, and turkey continues an upward trajectory despite all-time high prices, deteriorating consumer purchasing power, and a nascent economic recovery. Although average meat expenditures as a share of total household food expenditures are reportedly lower, Post forecasts that total consumption is higher as rising demand from high- and middle-income consumers more than offsets falling demand among lower-income consumers. As legacy tariff rate quotas for poultry expire, Mexico’s chicken producers and processors will gain pricing power in the domestic market. In May and June 2021, retail poultry prices reached the highest price levels in more than 20 years.