Mexico has increased imports of U.S. grain, oilseed and related products by 22 percent compared to the first few years of the century.
U.S. exports of those products averaged 22.2 million metric tons per year from 2009-2012 with an annual value of $7.3 billion, according to a report by the Center for North American Studies at Texas A&M University.
The result is two and a half times the value of the early 2000s, according to the research findings.
“Higher grain and oilseed prices on the world market were certainly one major factor,” said Dr. Parr Rosson, professor and head of the department of agricultural economics, Texas A&M University. “The other factor was increased demand in Mexico for grain-fed beef, which has risen, especially in major cities across that country. Increased number of cattle in feedlots resulted in not only more tonnage being fed, but higher prices as well.The third factor was a lower valued U.S.dollar during much of this time period, especially compared to historically high values over the past 20 years.”