Mexico: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Mexico

The Mexican wheat and meslin flour market amounted to $X in 2022, remaining stable against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in Mexico

In value terms, wheat and meslin flour production rose to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 16%. Wheat and meslin flour production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Wheat and Meslin Flour

Exports from Mexico

In 2022, wheat and meslin flour exports from Mexico amounted to X tons, picking up by 11% against the year before. Overall, exports, however, showed a slight decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 60% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, wheat and meslin flour exports skyrocketed to $X in 2022. In general, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +6.8% against 2018 indices. The pace of growth was the most pronounced in 2018 when exports increased by 80%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons), the United States (X tons) and Belize (X tons) were the main destinations of wheat and meslin flour exports from Mexico, with a combined 97% share of total exports. Cuba lagged somewhat behind, comprising a further 2.8%.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of +176.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheat and meslin flour exported from Mexico were Guatemala ($X), the United States ($X) and Cuba ($X), together accounting for 96% of total exports.

Cuba, with a CAGR of +176.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wheat and meslin flour export price amounted to $X per ton, surging by 41% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour export price increased by +94.2% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Mexico

In 2022, overseas purchases of wheat and meslin flour decreased by -38.3% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, posted modest growth. The growth pace was the most rapid in 2015 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, wheat and meslin flour imports amounted to $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by 34% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) was the main supplier of wheat and meslin flour to Mexico, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +1.7%.

In value terms, the United States ($X) constituted the largest supplier of wheat and meslin flour to Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +7.7%.

Import Prices by Country

In 2022, the average wheat and meslin flour import price amounted to $X per ton, growing by 63% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wheat and meslin flour import price increased by +102.6% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +6.0% per year.

Source: IndexBox Platform

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