| According to SIAP’s July report, published, on August 5, 2022 |
Interesting data from the recently published July 2022 Mexican White Rice Supply-Demand Report from the Mexican Department of Agriculture’s Agri-food Information Service (SIAP). These are Mexican government numbers, that include imports from all origins: Supply. It is estimated that in the 2021/2022 Fall-Winter cycle, the Mexican white rice offer suffered a reduction of 5.2% in comparison with the previous cycle, due to a 12.5% shorter production and 7.7% shorter imports, although the initial inventories were 41% higher. In the 2021/2022 Fall-Winter cycle, the planting intention was 1.1% higher, passing from 13,814 to 13,967 hectares, from which 75.2% were planted, with the states of Nayarit and Campeche having the largest planted areas, Nayarit contributing with 56.2% of the national production. In the 2022 Spring-Summer cycle, it is estimated that 6,659 hectares were established at the end of June, with the states of Michoacan and Veracruz having the largest planting progress, reporting 65.5% of their total planting intention. Demand. For the 2021/2022 cycle, it is expected that demand will decrease by 5.3%. Exports for human consumption are expected to decrease 47.7%; human consumption is expected to decrease 4.3%; self-consumption and seed for sowing are expected to decrease 16% each. 2022 Exports forecast is 10,000 MT, while self-consumption and seed are 5,000 MT. With the current production situation, it is expected that the 2021/2022 cycle’s self-sufficiency rate will decrease to 14.3%, down from the previous 15.1%. Prices. In June 2022, both the average rural price and the consumer price reported inter-annual increases. The median rural price, increased 29.8% reaching 6,700 MX pesos / US$335 per MT, and the consumer price increased 5.5% reaching 33 thousand MX pesos / US$1,650 per MT. |
| e/ Estimated data for the full cycle, with real numbers to the month showedSource: SIAP with info from Customs/Tax Revenue Service |
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