News

Export opportunities to Mexico are growing

USDA’s Foreign Agricultural Service (FAS) says farm exports to Mexico grew 48 percent in the ten years from 2008 to 2018. The latest International Agricultural Trade Report from the FAS says Mexico’s imports of U.S. agriculture products grew from $12.9 billion to $19.1 billion in that decade. The government report credits open trade with Mexico providing opportunities for cross-border collaboration. In 2018, Mexico, the second-largest agriculture export market for the U.S., was the top market for U.S. corn.

The report projects Mexico’s middle-and high-income households growing from 30 percent of all households in 2018 to over 40 percent of all households by 2025. The report cites data from IHS Markit projecting retail food sales in Mexico growing 32 percent from $159 billion in 2018 to more than $200 billion by 2024.