Source: Oleoscope (Russia)
According to a recent CoBank Knowledge Exchange survey, U.S. food and agricultural exports have surged by 65% over the last four years, with Mexico expected to overtake Canada as the leading market for American products.
In 2024, the value of U.S. exports to Mexico reached $31.4 billion, just below Canada’s $32.4 billion. However, based on current trends reported by World Grain referencing CoBank data, Mexico is poised to surpass Canada within the year.
Since 2020, Mexico’s portion of total U.S. agricultural exports has risen from 11.2% to 16.4%. The top five U.S. commodities imported by Mexico include corn, pork, dairy, soybeans, and poultry, according to the U.S. Department of Agriculture’s Foreign Agricultural Service. Grain, feed, oilseeds, and related products dominate the $13.9 billion export market to Mexico. Notably, grain exports grew by 27% in 2024, reaching 41.98 million tons.
This notable increase is mainly driven by greater demand for feed in Mexico’s growing animal protein sector, compounded by severe droughts restricting local crop production and grazing conditions. In fact, Mexico’s domestic corn output in 2024 has fallen by 16% compared to 2022.
With ongoing trade disputes between the U.S. and China, Mexico is set to surpass China in 2025 as the largest buyer of U.S. grains, feeds, and oilseeds.
In addition to bulk commodities, Mexico is a significant importer of various packaged and processed food items from the U.S., including fresh and processed fruits and vegetables, sweeteners, and tree nuts.
Over the past decade, cross-border trade in food and agricultural products between the U.S. and Mexico has doubled, reaching $80 billion. Despite a decline in enthusiasm for free trade agreements in recent years, Fox emphasized that the deep integration of food systems across the U.S.-Mexico border represents a clear “win-win” for both nations.