China will remain the leading importer of soybeans and cotton, but Mexico will be the world’s largest corn importer for the rest of this decade, said the Food and Agricultural Policy Research Institute. The United States would be the top corn exporter despite increased competition from Brazil, said the University of Missouri think tank in updating its international marketing baseline.
“After resolving the internal policy issue over GMO corn imports, Mexico is expected to surpass China as lead global net import of corn in 2024/25 and throughout the projection,” said FAPRI. Its projections run through 2029/30.
Mexico is expected to drop a proposed ban on imports of genetically engineered yellow corn when President-elect Claudia Sheinbaum take office Oct. 1. Her choice of agriculture minister, Julio Berdegue, told Reuters in July that Mexico would focus on self-sufficiency in white corn, used in making tortillas, a staple food in the country.
FAPRI estimated Mexico would import 21.91 million metric tons of corn in 2024/25, compared to 21.365 million tons by China. The United States in the leading supplier of corn to Mexico.
FAPRI’s updated International Market Outlook was available here.