Report Update Nov 1, 2024

Mexico - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Refined Soybean Oil Market 2024

Refined Soybean Oil Market Size in Mexico

In 2022, the Mexican refined soybean oil market decreased by -12.1% to $X, falling for the third consecutive year after three years of growth. Overall, consumption continues to indicate a abrupt contraction. Refined soybean oil consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Refined Soybean Oil Production in Mexico

In value terms, refined soybean oil production fell slightly to $X in 2022 estimated in export price. In general, production showed a noticeable slump. The growth pace was the most rapid in 2015 with an increase of 65%. Refined soybean oil production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Refined Soybean Oil Exports

Exports from Mexico

In 2022, approx. X tons of refined soybean oil and its fractions were exported from Mexico; jumping by 112% against the year before. Over the period under review, exports, however, saw a deep contraction. The pace of growth was the most pronounced in 2017 when exports increased by 342%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, refined soybean oil exports skyrocketed to $X in 2022. Overall, exports, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 369% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for refined soybean oil exports from Mexico, accounting for a 90% share of total exports. Moreover, refined soybean oil exports to the United States exceeded the volume sent to the second major destination, Belize (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -13.2%.

In value terms, the United States ($X) remains the key foreign market for refined soybean oil and its fractions exports from Mexico, comprising 83% of total exports. The second position in the ranking was held by Belize ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -14.0%.

Export Prices by Country

The average refined soybean oil export price stood at $X per ton in 2022, picking up by 9.7% 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 39%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belize ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belize (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Refined Soybean Oil Imports

Imports into Mexico

In 2022, the amount of refined soybean oil and its fractions imported into Mexico contracted dramatically to X tons, falling by -67.5% compared with 2021. In general, imports continue to indicate a dramatic descent. The growth pace was the most rapid in 2013 when imports increased by 68%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, refined soybean oil imports declined remarkably to $X in 2022. Over the period under review, imports faced a significant decline. The growth pace was the most rapid in 2013 with an increase of 56% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main refined soybean oil supplier to Mexico, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -24.0%.

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

From 2012 to 2022, the average annual growth rate of value from the United States stood at -20.9%.

Import Prices by Country

The average refined soybean oil import price stood at $X per ton in 2022, increasing by 34% against the previous year. In general, the import price recorded perceptible growth. The most prominent rate of growth was recorded in 2021 an increase of 44%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

As there is only one major supplying country, 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 +4.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined soybean oil and its fractions in the world?

The countries with the highest volumes of refined soybean oil consumption in 2020 were China, the United States and India, together accounting for 30% of global consumption. Mauritania, Japan, Russia, Indonesia, Italy, Brazil, the UK, Pakistan, Bangladesh and Germany lagged somewhat behind, together comprising a further 27%.

What are the largest producers of refined soybean oil and its fractions in the world?

The countries with the highest volumes of refined soybean oil production in 2020 were China, the United States and India, together accounting for 31% of global production. These countries were followed by Brazil, Japan, Russia, the Netherlands, Indonesia, Pakistan, Germany, Bangladesh, the UK and Italy, which together accounted for a further 27%.

What are the leading suppliers of refined soybean oil and its fractions to Mexico?

In value terms, the United States constituted the largest supplier of refined soybean oil to Mexico.

What are the leading importers of refined soybean oil and its fractions from Mexico?

In value terms, Cuba emerged as the key foreign market for refined soybean oil exports from Mexico, comprising 67% of total exports. The second position in the ranking was occupied by the United States, with a 31% share of total exports.

What is the average export price for refined soybean oil and its fractions in Mexico?

The average refined soybean oil export price stood at $1,009 per ton in 2020, with a decrease of -35.6% against the previous year.

What is the average import price for refined soybean oil and its fractions in Mexico?

The average refined soybean oil import price stood at $872 per ton in 2020, rising by 5.8% against the previous year.

This report provides an in-depth analysis of the refined soybean 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:

Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

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