April 6, 2023 – Corn production in 2023/2024 is forecast to increase slightly, despite a reduction in planted area, as commercial farmers look positively at 2023 average record prices of $625/metric ton (MT) at the wholesale markets. Yellow corn imports continue growing as the feed demand grows slowly but steadily in response to a continued three percent yearly growth estimated by the avian industry. Rice harvested area and production is forecast to recover after impacts of Julia Storm following ETA and IOTA if the coming years are marked by less rainfall. As of 2023, CAFTA-DR rice quotas are no longer in place, and given the mandatory local purchase in place with other countries, U.S. rice exports are expected to drop. Lack of labor is challenging grain production in Guatemala.
For more information, or for an archive of all FAS GAIN reports, please visit gain.fas.usda.gov.
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