Price for Cereal Flour; of Maize (Corn) in Mexico - 2023

Price for Cereal Flour; of Maize (Corn) in Mexico (FOB) - 2023

In June 2023, the average export price for cereal flour; of maize (corn) amounted to $847 per ton, growing by 3.8% against the previous month. Over the period under review, export price indicated a pronounced increase from June 2022 to June 2023: its price increased at an average monthly rate of +2.2% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, cereal flour; of maize (corn) export price decreased by -24.2% against April 2023 indices. The pace of growth was the most pronounced in April 2023 when the average export price increased by 41% month-to-month. As a result, the export price attained the peak level of $1,118 per ton. From May 2023 to June 2023, the the average export prices remained at a somewhat lower figure.

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

From June 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to +2.2% per month.

Price for Cereal Flour; of Maize (Corn) in Mexico (CIF) - 2023

The average import price for cereal flour; of maize (corn) stood at $729 per ton in June 2023, dropping by -10.5% against the previous month. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 11% month-to-month. The import price peaked at $903 per ton in October 2022; however, from November 2022 to June 2023, import prices remained at a lower figure.

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

From June 2022 to June 2023, the rate of growth in terms of prices for the United States amounted to -0.7% per month.

Exports of Cereal Flour; of Maize (Corn) in Mexico

Cereal flour; of maize (corn) exports from Mexico amounted to 213K tons in 2022, stabilizing at the previous year. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2020 with an increase of 1,625% against the previous year. As a result, the exports attained the peak of 223K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cereal flour; of maize (corn) exports skyrocketed to $141M in 2022. Overall, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 1,563% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Export of Cereal Flour; of Maize (Corn) in Mexico (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	N/A	123	117	139	6.3%
Venezuela	5.9	N/A	N/A	N/A	0%
Others	1.6	1.8	2.4	2.0	7.7%
Total	7.5	124	119	141	165.9%

Top Export Markets for Cereal Flour; of Maize (Corn) from Mexico in 2022:

United States (210.0K tons)

Imports of Cereal Flour; of Maize (Corn) in Mexico

Cereal flour; of maize (corn) imports into Mexico shrank rapidly to 8.5K tons in 2022, with a decrease of -28.1% on 2021. Over the period under review, imports saw a sharp reduction. The smallest decline of -0.2% was in 2020.

In value terms, cereal flour; of maize (corn) imports reduced to $6.5M in 2022. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 2.1%. As a result, imports reached the peak of $12M. From 2021 to 2022, the growth of imports failed to regain momentum.