Mexico Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Mexico Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The rice production in Mexico was recorded as 0.31 million metric tonnes in 2019 and is estimated to register a CAGR of 4.1% over the forecast period. Sinaloa, Campeche, and Veracruz are the major rice producing states in Mexico with more than 20% of the production share. The per capita rice consumption in Mexico was recorded as 8.62 kgs with a total consumption of 1.2 million metric tons in 2018. Mexico imports 60% of its rice consumption from other countries. The United States is the major import partner for Mexico, importing 60% of its total import quantity.

Key Market TrendsIncrease in the Domestic Rice Production

A continuous increase in production is noticed for the last few years at an average rate of 10000 - 15000 metric tonnes per year. The main reason for the increase in rice production every year is the support from the Mexican government and encouragement from the Mexican Rice Council. 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. It has almost doubled the domestic produced rice in 2018.

United States is the Major Importing Partner

Mexico primarily depends on rice imports because of its low domestic production. The country imported 1 million metric tons of rice in 2018, which is worth a value of USD 386 million. The United States is the major supplier of rice to Mexico, with 70% of the total rice volume imported by Mexico, followed by the South American countries like Uruguay and Argentina. Importing from Asian countries is very low due to the phytosanitary restrictions imposed by the Mexican government on the imports of Asian rice.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.