Mexico: Rice Market 2024

Rice Market Size in Mexico

The Mexican rice market expanded notably to $X in 2023, surging by X% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Rice Production in Mexico

In value terms, rice production skyrocketed to $X in 2023 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

In 2023, the average yield of rice in Mexico dropped modestly to X tons per ha, standing approx. at the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the average rice yield reached the maximum level at X tons per ha in 2022, and then reduced modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The rice harvested area in Mexico expanded to X ha in 2023, growing by X% on the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2023, the growth of the rice harvested area remained at a somewhat lower figure.

Rice Exports

Exports from Mexico

In 2023, the amount of rice exported from Mexico dropped significantly to X tons, waning by X% compared with 2022. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, rice exports dropped rapidly to $X in 2023. In general, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

Cuba (X tons) was the main destination for rice exports from Mexico, accounting for a X% share of total exports. It was followed by the United States (X kg), with less than X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Cuba totaled X%.

In value terms, Cuba ($X) emerged as the key foreign market for rice exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with less than X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Cuba stood at X%.

Export Prices by Country

The average rice export price stood at $X per ton in 2023, falling by X% against the previous year. Overall, export price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, rice export price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cuba stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Mexico

Rice imports into Mexico was estimated at X tons in 2023, growing by X% against the previous year's figure. In general, imports, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, rice imports skyrocketed to $X in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United States (X tons) constituted the largest supplier of rice to Mexico, with a X% share of total imports. Moreover, rice imports from the United States exceeded the figures recorded by the second-largest supplier, Uruguay (X tons), threefold. The third position in this ranking was taken by Brazil (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (X% per year) and Brazil (X% per year).

In value terms, the United States ($X) constituted the largest supplier of rice to Mexico, comprising X% of total imports. The second position in the ranking was held by Uruguay ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2023, the average rice import price amounted to $X per ton, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the average import price increased by X%. The import price peaked in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guyana (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform