Mexican Imports Slowed in May, But Still Impressive

Dear Client: Beer imports were down by 0.6% in May, to 3,520,391 barrels. That puts the YTD trend at up 6.1%, per Beer Institute's Danelle Kosmal.  Interesting dynamics influenced that number. For one, Mexican imports slowed sequentially, to just 5.5% growth (notably, +4.2% vs. May '19), down from +15.7% YTD and +10.6% in April.   But fear not, this is likely just about the flow, and fullness, of inventory (recall, Constellation Beer shipped a lot of beer in its recent quarter