Mexico, a key player in international corn trade, is set to import a substantial amount of yellow corn in 2024. Agriculture Minister Victor Villalobos announced in a recent online press conference that Mexico plans to import between 14 million and 16 million metric tons of yellow corn this year. This decision comes as a response to severe drought conditions in northern Chihuahua state, which significantly impacted local corn production.
While the exact figure for Mexican corn production remains undisclosed, Villalobos assured that production in the country's southeast regions would help offset the deficit experienced in Chihuahua. Notably, he emphasized that whether farmers feed livestock white or yellow corn makes no difference, highlighting the importance of maintaining sufficient corn supply for domestic needs.
Mexico, traditionally self-sufficient in white corn production, heavily relies on imports for yellow corn, primarily sourced from the United States. According to U.S. government data as of mid-January, Mexico had scheduled a record-breaking 15.3 million tons in corn imports for the 2023/24 season, surpassing the previous record by approximately 20%. Despite challenges, Mexico continues to be the top buyer of U.S. corn, accounting for nearly half of U.S. corn sales.
However, uncertainties loom as discussions around curbing genetically modified (GM) corn imports persist. If rigorously implemented, such measures could potentially impact U.S. corn exports. Nonetheless, Mexico's strategic approach to managing its corn imports underscores its commitment to ensuring food security and stability in the face of challenging agricultural conditions.
