Mexico: Refined Groundnut Oil Market 2025

Refined Groundnut Oil Market Size in Mexico

The Mexican refined groundnut oil market rose remarkably to $X in 2021, surging by 12% against the previous year. In general, consumption enjoyed a strong increase. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Refined Groundnut Oil Production in Mexico

In value terms, refined groundnut oil production surged to $X in 2021 estimated in export price. Over the period under review, production recorded resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 63%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Refined Groundnut Oil Exports

Exports from Mexico

Refined groundnut oil exports from Mexico stood at X tons in 2021, surging by 9.2% on 2020 figures. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 742%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, refined groundnut oil exports soared to $X in 2021. In general, exports enjoyed measured growth. The growth pace was the most rapid in 2018 with an increase of 428%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons), Portugal (X tons) and the UK (X tons) were the main destinations of refined groundnut oil exports from Mexico, together accounting for 100% of total exports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +7.3%), while shipments for the other leaders experienced a decline.

In value terms, the United States ($X), Portugal ($X) and the UK ($X) appeared to be the largest markets for refined groundnut oil exported from Mexico worldwide, with a combined 99% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +2.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average refined groundnut oil export price stood at $X per ton in 2021, rising by 8.2% against the previous year. Overall, the export price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 42%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Portugal ($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 Spain (+23.7%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Groundnut Oil Imports

Imports into Mexico

Refined groundnut oil imports into Mexico declined to X tons in 2021, which is down by -5.1% on 2020 figures. In general, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 327% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, refined groundnut oil imports totaled $X in 2021. Over the period under review, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2020 when imports increased by 304% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

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

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +17.2%.

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

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +11.7%.

Import Prices by Country

In 2021, the average refined groundnut oil import price amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the import price, however, continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 65% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 -4.7% per year.

Source: IndexBox Platform

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