Mexico: Crude Soybean Oil Market 2025

Crude Soybean Oil Market Size in Mexico

The Mexican crude soybean oil market reached $X in 2022, increasing by 4.9% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Crude Soybean Oil Production in Mexico

In value terms, crude soybean oil production expanded to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 87% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Crude Soybean Oil Exports

Exports from Mexico

For the third year in a row, Mexico recorded growth in overseas shipments of crude soybean oil, which increased by 9.4% to X tons in 2014. In general, total exports indicated a significant increase from 2012 to 2014: its volume increased at an average annual rate of +35.7% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2014 figures, exports increased by +84.2% against 2012 indices. The most prominent rate of growth was recorded in 2013 with an increase of 68% against the previous year. Over the period under review, the exports attained the peak figure in 2014 and are likely to see steady growth in the near future.

In value terms, crude soybean oil exports rose markedly to $X in 2014. Over the period under review, total exports indicated significant growth from 2012 to 2014: its value increased at an average annual rate of +37.7% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2014 figures, exports increased by +89.5% against 2012 indices. The growth pace was the most rapid in 2013 when exports increased by 66%. Over the period under review, the exports reached the maximum in 2014 and are likely to continue growth in the immediate term.

Exports by Country

Honduras (X tons), Belize (X tons) and the United States (X tons) were the main destinations of crude soybean oil exports from Mexico.

From 2012 to 2014, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +1,854.4%), while the other leaders experienced mixed trend patterns.

In value terms, Honduras ($X) emerged as the key foreign market for crude soybean oil exports from Mexico, comprising 70% of total exports. The second position in the ranking was held by Belize ($X), with a 29% share of total exports.

From 2012 to 2014, the average annual rate of growth in terms of value to Honduras totaled +180.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belize (-25.7% per year) and the United States (+1,234.0% per year).

Export Prices by Country

The average crude soybean oil export price stood at $X per ton in 2014, picking up by 4.6% against the previous year. Over the last two-year period, it increased at an average annual rate of +1.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (-6.8%), while the prices for the other major destinations experienced a decline.

Crude Soybean Oil Imports

Imports into Mexico

In 2022, supplies from abroad of crude soybean oil was finally on the rise to reach X tons after five years of decline. In general, imports, however, recorded a abrupt descent. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, crude soybean oil imports surged to $X in 2022. Over the period under review, imports, however, recorded a deep setback. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of crude soybean oil to Mexico, accounting for a 87% share of total imports. Moreover, crude soybean oil imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -8.4%.

In value terms, the United States ($X) constituted the largest supplier of crude soybean oil to Mexico, comprising 86% of total imports. The second position in the ranking was held by Argentina ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -6.2%.

Import Prices by Country

In 2022, the average crude soybean oil import price amounted to $X per ton, picking up by 18% against the previous year. In general, the import price showed a notable expansion. The growth pace was the most rapid in 2021 an increase of 67% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+5.0%).

Source: IndexBox Platform

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