Mexico Rice Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
Mexico Rice Market Analysis
The Mexican rice market is projected to register a CAGR of 4.5% over the forecast period.
- The product demand in the country is increasing as rice mill machinery and attractive packaging continue to improve. Production of milled rice in Mexico reached 0.21 million metric tons in 2021, from 0.20 million metric tons in 2020. The growing demand for specialty rice varieties has increased the trade for long-grain rice, which in turn is driving market growth.
- In Mexico, the national demand for rice exceeds four times the consumption of the grain produced internally, which has caused growing volumes of imported rice. Long and thin-type rice is the one with the highest consumption. However, consumers value domestic rice more than imported rice. Per capita rice consumption in Mexico was recorded as 8.75 kgs, with a total consumption of 0.98 million metric tons, in 2021. One of the aspects that have defined the preference of consumers is the culinary quality of the rice, and as per industrialists, the industrial quality of the grain is a parameter to be taken into account. The United States is the major import partner for Mexico, importing more than 60% of its total import quantity in 2021. Other suppliers include neighboring South American countries.
Mexico Rice Market Trends
This section covers the major market trends shaping the Mexico Rice Market according to our research experts:
Government Initiatives to Boost Domestic Rice Production
- Rice production in Mexico continues to be dispersed throughout the country. The favorable weather conditions in 2021 in the main growing region of Sonora are expected to positively impact rice production.
- The main reason for the increase in rice production is the support from the Mexican government and encouragement from the Mexican Rice Council. The Mexican government provides generous subsidies to rice farmers through price guarantees, input, and credit subsidies. In addition to direct support, the government also started import duties on rice to increase domestic production. The demand for rice is also one of the market drivers in Mexico.
- Rice production in Mexico was recorded at nearly 0.25 million metric tons in 2021. Sinaloa, Campeche, and Veracruz are the major rice-producing states in Mexico, with more than 20% of the production share. The increased use of new cultivation technologies is estimated to drive the market in the country.
- According to the Mexican Rice Council, the adoption of this new technology by producers with funding from the major rice millers has led to significant production increases in a few of the growing areas. Further, the ministry is also providing a new support program to boost domestic rice production and productivity to increase its market share in the Mexican market and provide an alternative crop to improve farmers' income.
The United States is the Major Exporting Partner
- Mexico primarily depends on rice imports because of its low domestic production. The country imported USD 399.1 million of rice in 2021, a decrease of 12.1% from USD 447.6 million in 2020.
- The United States is the major supplier of rice to Mexico, with 65.7% of the total rice value imported by Mexico, followed by South American countries like Uruguay and Paraguay. Importing from Asian countries is very low due to the phytosanitary restrictions imposed by the Mexican government on the imports of Asian rice.
- Further, in 2020, the passage of the modernized NAFTA, the US-Mexico-Canada Agreement (USMCA), provides long-term market certainty for US exports shipped to Mexico, despite the diversification of sourcing.
- The Ministry of Agriculture and Rural Development (Mexico) reported rice consumption in Mexico between 2021 and 2030 is anticipated to increase from 0.98 million metric tons to 1.37 million metric tons. This increased consumption would further allow the United States to increase the export of rice to Mexico.
Mexico Rice Market News
- October 2022: Mexican government decided to temporarily exempt the payment of import taxes on rice from South America as part of a policy to prevent food price inflation and scarcity, and insufficient domestic rice production.
- July 2020: The United States, Mexico, and Canada reached an agreement to form USMCA. The new United States-Mexico-Canada Agreement (USMCA) will support mutually beneficial trade leading to freer markets, fairer trade, and robust economic growth in North America. This agreement will provide long-term market stability for United States rice exports to Mexico, despite the diversification of sourcing.
Mexico Rice Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Mexico
5.1.1 Production Analysis
5.1.2 Consumption Analysis and Market Value
5.1.3 Import Market Analysis (Volume and Value)
5.1.4 Export Market Analysis (Volume and Value)
5.1.5 Price Trend Analysis
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Rice Industry Segmentation
Rice is the starchy seeds or grain of annual marsh grass, Oryza sativa, cultivated in warm climates and used for food.
The Mexican rice market is segmented by production (volume), consumption (volume and value), import (volume and value), export (volume and value), and price trend analysis.
The report offers the market size and forecast in terms of value in USD million and volume in metric ton for the above-mentioned segments.
| Mexico | |
| Production Analysis | |
| Consumption Analysis and Market Value | |
| Import Market Analysis (Volume and Value) | |
| Export Market Analysis (Volume and Value) | |
| Price Trend Analysis |
Mexico Rice Market Research FAQs
What is the current Mexico Rice Market size?
The Mexico Rice Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
What years does this Mexico Rice Market cover?
The report covers the Mexico Rice Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Rice Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Rice Industry Report
Statistics for the 2024 Mexico Rice market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Mexico Rice analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
