Mexico: Grain and Feed Annual

Due to continued elevated agricultural input costs, Mexico’s corn production in marketing year (MY) 2023/24 is forecast at 27.4 million metric tons (MMT), unchanged from the year prior. Lower than expected planting intentions data accounts for slightly lower rice and wheat production forecasts. Sorghum production is forecast to remain steady based on consistent demand from the feed and beverage sectors. Mexico’s MY 2022/23 corn imports are estimated to decrease following a January 2023 Decree which places export tariffs on white corn, and a February 2023 Decree which restricts the use of genetically engineered (GE) corn in the tortilla industry.