Mexico: Fig Market 2024

Fig Market Size in Mexico

The Mexican fig market totaled $X in 2022, remaining relatively unchanged against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 -6.3% against 2019 indices. Fig consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Fig Production in Mexico

In value terms, fig production contracted slightly to $X in 2022 estimated in export price. Overall, production posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 36%. Over the period under review, production attained the peak level at $X in 2021, and then reduced modestly in the following year.

In 2022, the average fig yield in Mexico expanded significantly to X tons per ha, surging by 5.5% on the previous year's figure. Over the period under review, the yield saw prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 25%. As a result, the yield attained the peak level of X tons per ha. From 2021 to 2022, the growth of the average fig yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The fig harvested area in Mexico reached X ha in 2022, remaining constant against 2021 figures. The harvested area increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 12%. The fig harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

Fig Exports

Exports from Mexico

In 2022, approx. X tons of figs were exported from Mexico; which is down by -36.3% compared with the year before. Overall, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 156%. As a result, the exports attained the peak of X tons, and then shrank sharply in the following year.

In value terms, fig exports shrank sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2021 with an increase of 240%. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

The United States (X tons) was the main destination for fig exports from Mexico, accounting for a 57% share of total exports. Moreover, fig exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+32.0% per year) and Hong Kong SAR (+1.2% per year).

In value terms, the United States ($X), Canada ($X) and Hong Kong SAR ($X) appeared to be the largest markets for fig exported from Mexico worldwide, with a combined 92% share of total exports. The UK and China lagged somewhat behind, together accounting for a further 6.6%.

The UK, with a CAGR of +190.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average fig export price amounted to $X per ton, with an increase of 3.3% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 33% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Fig Imports

Imports into Mexico

In 2022, the amount of figs imported into Mexico dropped rapidly to X tons, which is down by -46.1% compared with the previous year. Overall, imports faced a deep downturn. The growth pace was the most rapid in 2021 with an increase of 1,187%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, fig imports contracted dramatically to $X in 2022. In general, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2021 when imports increased by 671%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest fig supplier to Mexico, with a 77% share of total imports. Moreover, fig imports from Turkey exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-25.0% per year) and Spain (-39.4% per year).

In value terms, the largest fig suppliers to Mexico were Turkey ($X), the United States ($X) and Spain ($X), with a combined 100% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +5.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average fig import price amounted to $X per ton, growing by 4.8% against the previous year. Overall, the import price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2020 an increase of 72%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+14.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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