Report Update Nov 1, 2024

Mexico - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Groundnut Oil Market 2024

Groundnut Oil Market Size in Mexico

The Mexican groundnut oil market expanded modestly to $X in 2021, increasing by 1.8% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.2% against 2017 indices. Groundnut oil consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Groundnut Oil Production in Mexico

In value terms, groundnut oil production totaled $X in 2021 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.9% against 2017 indices. The growth pace was the most rapid in 2016 when the production volume increased by 42%. Groundnut oil production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Groundnut Oil Exports

Exports from Mexico

Groundnut oil exports from Mexico expanded slightly to X tons in 2021, increasing by 2.9% compared with 2020 figures. Overall, exports saw a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 272%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, groundnut oil exports contracted to $X in 2021. Over the period under review, exports saw moderate growth. The growth pace was the most rapid in 2018 with an increase of 183% against the previous year. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

The United States (X tons), China (X tons) and Portugal (X tons) were the main destinations of groundnut oil exports from Mexico, with a combined 78% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +2,195.6%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for groundnut oil exported from Mexico were the United States ($X), China ($X) and Portugal ($X), together accounting for 81% of total exports.

Among the main countries of destination, China, with a CAGR of +744.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2021, with a decrease of -12% against the previous year. Over the period under review, the export price continues to indicate a pronounced curtailment. The growth pace was the most rapid in 2019 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+14.8%), while the prices for the other major destinations experienced mixed trend patterns.

Groundnut Oil Imports

Imports into Mexico

In 2021, groundnut oil imports into Mexico soared to X tons, picking up by 29% against 2020 figures. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 184%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, groundnut oil imports surged to $X in 2021. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 179%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, the United States (X tons) was the main supplier of groundnut oil to Mexico, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +19.9%.

In value terms, the United States ($X) constituted the largest supplier of groundnut oil to Mexico.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +14.9%.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, surging by 5.3% against the previous year. In general, the import price, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -4.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for groundnut oil in the world?

The country with the largest volume of groundnut oil consumption was China, accounting for 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. The third position in this ranking was occupied by Sudan, with a 4.5% share.

What are the largest producers of groundnut oil in the world?

The country with the largest volume of groundnut oil production was China, accounting for 41% of total volume. Moreover, groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. India ranked third in terms of total production with a 6.9% share.

What are the leading suppliers of groundnut oil to Mexico?

In value terms, the United States constituted the largest supplier of groundnut oil to Mexico, comprising 90% of total imports. The second position in the ranking was occupied by Hong Kong SAR, with an 8.4% share of total imports.

What are the leading importers of groundnut oil from Mexico?

In value terms, the United States remains the key foreign market for groundnut oil exports from Mexico, comprising 67% of total exports. The second position in the ranking was occupied by Portugal, with a 15% share of total exports. It was followed by Germany, with a 9.9% share.

What is the average export price for groundnut oil in Mexico?

In 2020, the average groundnut oil export price amounted to $2,467 per ton, dropping by -15.8% against the previous year.

What is the average import price for groundnut oil in Mexico?

In 2020, the average groundnut oil import price amounted to $4,155 per ton, picking up by 6.4% against the previous year.

This report provides an in-depth analysis of the groundnut oil market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 244 - Oil of Groundnuts

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023