Report Update Nov 1, 2024

Mexico - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Palm Oil Market 2024

Palm Oil Market Size in Mexico

The Mexican palm oil market contracted to $X in 2022, falling by -4.6% against the previous year. Overall, consumption showed a noticeable setback. Palm oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Palm Oil Production in Mexico

In value terms, palm oil production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 118%. Palm oil production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Palm Oil Exports

Exports from Mexico

In 2022, approx. X tons of palm oil were exported from Mexico; increasing by 242% compared with the previous year. In general, exports recorded a strong expansion. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, palm oil exports surged to $X in 2022. Overall, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for palm oil exports from Mexico, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +6.3%.

In value terms, the United States ($X) also remains the key foreign market for palm oil exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +9.7%.

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, growing by 76% against the previous year. Over the period under review, the export price recorded a tangible increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.2% per year.

Palm Oil Imports

Imports into Mexico

In 2022, palm oil imports into Mexico reduced sharply to X tons, shrinking by -17.3% against the year before. In general, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 66%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, palm oil imports skyrocketed to $X in 2022. Overall, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 62%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest supplier of palm oil to Mexico, with a 49% share of total imports. Moreover, palm oil imports from Guatemala exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Nicaragua (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+44.0% per year) and Nicaragua (+12.0% per year).

In value terms, Guatemala ($X) constituted the largest supplier of palm oil to Mexico, comprising 49% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 20% share of total imports. It was followed by Nicaragua, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala stood at -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+49.7% per year) and Nicaragua (+14.4% per year).

Import Prices by Country

In 2022, the average palm oil import price amounted to $X per ton, picking up by 52% against the previous year. Overall, the import price posted perceptible growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Indonesia ($X per ton), while the price for Nicaragua ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

Indonesia constituted the country with the largest volume of palm oil consumption, comprising approx. 25% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Malaysia, with an 8.2% share.

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

The country with the largest volume of palm oil production was Indonesia, comprising approx. 56% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with a 4% share.

What are the leading suppliers of palm oil to Mexico?

In value terms, Costa Rica, Guatemala and Colombia were the largest palm oil suppliers to Mexico, with a combined 68% share of total imports. These countries were followed by Indonesia, Nicaragua, Malaysia and Honduras, which together accounted for a further 32%.

What are the leading importers of palm oil from Mexico?

In value terms, the United States remains the key foreign market for palm oil exports from Mexico.

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

In 2020, the average palm oil export price amounted to $781 per ton, waning by -33.6% against the previous year.

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

The average palm oil import price stood at $708 per ton in 2020, increasing by 24% against the previous year.

This report provides an in-depth analysis of the palm 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 257 - Oil of palm

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