Price for Cereal Groats; Meal and Pellets in Mexico - 2023

Contents:

1. Price for Cereal Groats; Meal and Pellets in Mexico (CIF) - 2022
2. Price for Cereal Groats; Meal and Pellets in Mexico (FOB) - 2023
3. Imports of Cereal Groats; Meal and Pellets in Mexico
4. Exports of Cereal Groats; Meal and Pellets in Mexico

Price for Cereal Groats; Meal and Pellets in Mexico (CIF) - 2022

The average import price for cereal groats; meal and pelletses stood at $568 per ton in January 2022, standing approximately at the previous month. In general, the import price continues to indicate a mild expansion. Over the period under review, average import prices attained the peak figure in January 2022.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From April 2021 to January 2022, the rate of growth in terms of prices for the United States amounted to +1.3% per month.

Price for Cereal Groats; Meal and Pellets in Mexico (FOB) - 2023

In February 2023, the average export price for cereal groats; meal and pelletses amounted to $1,993 per ton, remaining relatively unchanged against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in October 2022 an increase of 192% against the previous month. Over the period under review, the average export prices hit record highs at $4,610 per ton in December 2022; however, from January 2023 to February 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Panama.

From February 2022 to February 2023, the rate of growth in terms of prices for Panama amounted to +2.0% per month.

Imports of Cereal Groats; Meal and Pellets in Mexico

For the fourth consecutive year, Mexico recorded growth in overseas purchases of cereal groats; meal and pelletses, which increased by 67% to 71K tons in 2022. Over the period under review, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cereal groats; meal and pellets imports soared to $28M in 2022. The total import value increased at an average annual rate of +11.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Cereal Groats; Meal and Pellets to Mexico in 2022:

1. United States (71.1K tons)

Exports of Cereal Groats; Meal and Pellets in Mexico

In 2022, approx. 33K tons of cereal groats; meal and pelletses were exported from Mexico; with an increase of 57% on the year before. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +18.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 60% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, cereal groats; meal and pellets exports skyrocketed to $25M in 2022. In general, exports, however, showed a mild setback.

Top Export Markets for Cereal Groats; Meal and Pellets from Mexico in 2022:

1. United States (21.6K tons)
2. Panama (7.9K tons)
3. Haiti (1.8K tons)
4. Philippines (0.7K tons)
5. Jamaica (0.6K tons)

Source: IndexBox Market Intelligence Platform