CHS Dakota Plains Ag announced on Apr. 16 that economic and demographic changes in Latin America are creating new opportunities for U.S. agricultural exports, with Mexico becoming the top export destination for American farm products in 2024.
This development is significant as it reflects increasing demand for U.S. crops such as corn, soybeans, wheat, soybean meal, and distillers dried grains with solubles across Latin American markets. The region’s expanding population and rising disposable incomes are key factors driving this growth.
Mexico purchased a record $30.3 billion of U.S. agricultural goods in 2024, according to the U.S. Department of Agriculture (USDA). Colombia ranked as the second-largest market for U.S. farmers in Latin America and seventh worldwide with $4.38 billion spent that year. Other countries such as Guatemala, Ecuador, Honduras, El Salvador, Panama and Nicaragua have also increased their imports from the United States by nearly six percent annually over the past decade according to USDA data.
“Latin America is a reliable market for U.S. ag products, and we expect that to continue,” said Diego Gavilanez Hernandez, regional CHS marketing expert.
Bryce Banfield, vice president of international sales at CHS said: “Latin American populations are growing. And they are all going through similar growth in regard to disposable income, which drives increases in consumptive demand.”
Guillermo Gomez of Grupo Trimex noted: “The main drivers behind the growth in [U.S. ag] imports are rising domestic consumption and stagnating national [crop] production.” He added that infrastructure investments favor competitive pricing from the United States due to its proximity.
Jason Marthaler of CHS said: “Latin America is one of the few regions in the world that continues to grow… That’s why we’re focusing attention there – to build a strong customer base.”
To support these export trends locally and internationally,
the official website reports that CHS Dakota Plains Ag facilitates efficient financing for crop inputs through streamlined loan processes; supports community programs aimed at improving farm safety; maintains grain elevators and fertilizer plants; provides Cenex energy products known for quality; operates across North Dakota, South Dakota and Minnesota offering agronomy services; handles more than two billion bushels of grain annually via river terminals and rail facilities; connects regional producers with global supply chains; fosters economic strength by offering specialized advice;
and links farmers directly with broader market opportunities.
“With [CHS and member cooperatives’] capabilities and assets,
we are ready to efficiently serve more customers in Latin America,” concluded Gavilanez Hernandez.
