Browse Data and Analysis

FAS/Mexico expects slower growth in the vegetable oil and oil meal sectors in marketing year (MY) 2023/24 compared to recent years, given potential declines in consumer purchasing power, a forecast slowdown in Mexico’s economy, and persistent inflation.

Mexico’s sugar production is forecast at 6.25 million metric tons raw value (MMT-RV) in marketing year 2023/24 (October-September), an increase of nearly 3 percent compared to MY 2022/23 based on lower fertilizer costs and a return to average weather conditions.

Posts projects Paraguay’s wheat production for marketing year (MY) 2023/2024 to increase to 1.25 million metric tons (MMT), with exports rising to 410,000 MT.

On March 19, 2023, Mexico’s Federal Commission for the Protection against Sanitary Risks (COFEPRIS) announced the annual import quota for two types of the agrochemical glyphosate.

Post projects marketing year (MY) 2023/2024 soybean production at 10 million metric tons (MMT) as planted area rises to 3.55 million hectares and Paraguay returns to trend for yield. MY 2023/2024 exports are projected at 6.4 MMT.

Mexico’s food processing industry is the third-largest in the Americas behind the United States and Brazil and is among the top 15 worldwide.

FAS Mexico forecasts for marketing year (MY) 2023/24 reductions in production, consumption, and trade due to low domestic and global demand for textiles and Government of Mexico (GOM) refusal to approve new genetically engineered (GE) seeds.