Mexico: Palm Oil Market 2025

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

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