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New data from USDA’s Economic Research Service shows that between fiscal years 2018 and 2022, Mexico accounted for nearly 14 percent of all U.S. agricultural exports. With a total value of $28 billion, Mexico is projected to be the United States’ second largest destination for U.S. agricultural exports in fiscal year 2022, and is forecast to reach 15 percent in 2023. On average, Mexico purchased $6.5 billion in U.S. grains and feeds per year from 2018 to 2022, accounting for 18 percent of the largest export commodity group. Demand for grains and feed has been spurred by the expansion of Mexico’s cattle industry and growing consumption of animal products. However, the report does not consider the future impacts of Mexico’s decree banning imports of genetically engineered corn. Meanwhile, between 2018 and 2022, Mexico’s imports of livestock, poultry, and dairy products represented an average of 18 percent of total U.S. exports and accounted for $6.3 billion in sales.
NAFB News Service