Mexico has decreased its fructose imports and will continue to do so in the short term, according to forecasts by the United States Department of Agriculture (USDA).
The subsequent forecast for High Fructose Corn Syrup (HFCS) imports for the 2021/2022 marketing year is 780,000 metric tons on a dry basis, due to the expected reformulation of products containing sugar and HFCS.
Likewise, the subsequent forecast for imports for the 2020/2021 cycle is 800,000 tons, below the 1 million 380,000 tons for the 2019/2020 campaign.
Mexico produces its remaining needs for HFCS that are not supplied from the United States.
According to the National Committee for the Sustainable Development of Sugar Cane of Mexico (CONADESUCA), as of February 28, HFCS imports decreased 10% compared to the previous cycle due to companies reformulating the products
The Mexican companies that produce and import fructose are Ingredion, Almidones Mexicanos and Cargill México.
The United States enjoys a significant market share in various subsectors.
Mexico is the main destination for US agricultural exports of corn, dairy products, poultry and eggs, fructose, dry distillery grains, and rice.
In addition, it is the second or third largest market for 25 other key product groups, such as soybeans, beef, pork, horticulture, and many processed foods or beverages.
In 2020, Mexico was the first destination for US exports of dairy products (1,416 million dollars), corn (2,693 million) and poultry meat (983 million). It was also used for sweeteners, animal fats, and distillery grains.
At the same time, Mexico was placed as the second market for US exports of wheat (778 million dollars), fresh fruits and vegetables (772 million), prepared foods (769 million) and rice (345 million).