Key Takeaways
- U.S. agricultural exports to Mexico reached $31.4 billion in 2024, up 65% since 2020, according to CoBank.
- Mexico is expected to surpass Canada as the top U.S. ag export market in 2025, despite emerging economic headwinds.
- Major export categories include grains, dairy, meat, poultry, and consumer packaged goods.
- Mexico’s growing manufacturing sector and drought-related challenges are driving feed and grain demand.
- U.S.-Mexico agri-food trade has doubled in the past decade, reaching $80 billion.
CoBank Highlights Rapid Growth in U.S.-Mexico Agricultural Trade
U.S. food and agricultural exports to Mexico have expanded significantly in recent years, driven by rising demand and supply chain integration. According to a new brief from CoBank’s Knowledge Exchange, export values to Mexico grew 65% between 2020 and 2024, reaching $31.4 billion last year.
Mexico now stands just behind Canada, which imported $32.4 billion in U.S. agricultural products in 2024. Current trends suggest Mexico may surpass Canada in 2025 to become the top market for U.S. agriculture exports.
CoBank: Grains, Dairy, and Protein Lead U.S. Export Growth
Data from CoBank and the USDA show that grain, feed, oilseeds, and related products accounted for the largest share of exports to Mexico in 2024, valued at $13.9 billion. Key drivers included:
- Increased demand for animal feed to support Mexico’s growing livestock and poultry sectors.
- Severe drought limiting Mexico’s domestic crop yields.
Dairy exports have also surged, with a 76% increase since 2020. Cheese remains a primary contributor to this growth. Mexico is currently the largest market for U.S. dairy exports, significantly ahead of China.
Additional export categories include:
- Corn, pork, soybeans, poultry — core bulk commodity exports.
- Consumer packaged goods — including bakery items, confectionery, processed fruits and vegetables, and tree nuts.
Mexico Expected to Become Top U.S. Ag Export Market by 2025
While strong demand continues, CoBank noted potential challenges that could affect future growth.
“Mexico’s economy has been slowing, and the unusually strong peso over the last couple of years has weakened by about 15% since early 2024,” said Rob Fox, Director of CoBank’s Knowledge Exchange.
The report suggests these factors may impact Mexican consumers’ purchasing power in 2025, though structural demand for U.S. products is expected to remain strong.
Trade tensions between the U.S. and China could also contribute to Mexico surpassing China as the largest market for U.S. grain, feed, and oilseed exports.
U.S.-Mexico Agri-Food Trade Reaches $80 Billion
Cross-border trade between the two nations has more than doubled in the past decade to reach $80 billion, reflecting strong bilateral ties.
“Consumers on both sides of the border benefit from a wider array of food choices at lower prices than they would otherwise,” added Fox.
Although global trade policies continue to evolve, the U.S.-Mexico food and agriculture relationship is positioned to remain a central component of North American supply chains in the years ahead.
