Mexico has a very unique protein balance sheet. Since the year 2000, they have increased in each category of their balance sheet for beef+pork+poultry: production, imports, exports, and consumption. I know of no other country that has seen that.
Per capita incomes of beef pork and poultry in Mexico have shifted over the past 20 years with poultry and pork seeing rising consumption but beef dropping. Both domestic and overseas chicken and hog farmers have benefitted from Mexico’s rising demand (see chart).
Mexico’s population growth rate has halved in just seven years, from 1.2% in 2016 to 0.6% estimated for 2023.
Trade friction is rising as the U.S. requested a dispute settlement panel last week over Mexico’s threats to halt imports of U.S. genetically modified corn. This will be the first major dispute under the U.S. Canada Mexico Trade agreement. Mexico will be called on to justify their claims of health issues related to GM corn. In the 27-year history of genetically modified corn, there has never been a reported illness or death attributed to it.
Mexican President “AMLO” has sought to implement an ambitious nationalistic agenda and is polling with a 67% approval rating. He will leave office in July 2024 due to term limits. – Brett Stuart