Mexico Agribusiness Booms on White Corn Deals and Tequila Exports

Mexico's agribusiness sector is experiencing growth, driven by agreements to commercialize white corn and expanding tequila exports. The government has secured deals to purchase 1.2Mt of white corn from this year's harvest, while promoting native corn value chains through market development and biodiversity conservation.

The tequila industry is also looking to diversify its markets beyond the US, where demand remains steady despite a slight decline in production. Industry leaders are addressing structural challenges such as agave oversupply, abandoned fields, and pest outbreaks by promoting better production planning and traceability.

Gruma, a leading player in Mexico's tortilla industry, reported a 12% decline in second-quarter net profit due to weaker consumer demand in the US. The company is diversifying its product portfolio and evaluating a return to Venezuela to offset slower performance in its largest market.