Mexico Corn Imports to Surge to Record as Output Outlook Cut
This article is for subscribers only.
Corn output in Mexico will fall short of previous estimates, forcing the world’s second-biggest corn buyer to boost purchases from foreign suppliers by 36 percent to a record, the National Confederation of Farmers said.
The outlook for domestic corn output this year was cut to 22 million metric tons, from a previous estimate of 25.1 million tons, Hector Salazar, secretary general of the Mexico City-based group, said yesterday in an e-mailed response to questions from Bloomberg News. The drop may force Mexico to import a record 12.1 million tons of yellow corn, up from 8.9 million tons last year, he said.