Mexico: Soya Bean Market 2025

Soya Bean Market Size in Mexico

The Mexican soya bean market expanded remarkably to $X in 2021, picking up by 12% against the previous year. In general, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +29.2% against 2017 indices. Soya bean consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Soya Bean Production in Mexico

In value terms, soya bean production reduced slightly to $X in 2021 estimated in export price. Overall, production saw a pronounced reduction. The pace of growth was the most pronounced in 2014 when the production volume increased by 104% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

The average yield of soya beans in Mexico totaled X tons per ha in 2021, stabilizing at the previous year. In general, the yield, however, saw a slight curtailment. The pace of growth was the most pronounced in 2016 with an increase of 34% against the previous year. Over the period under review, the average soya bean yield attained the peak level at X tons per ha in 2014; however, from 2015 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of soya beans were harvested in Mexico; shrinking by -3.5% against 2020. Overall, the harvested area, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the harvested area increased by 31% against the previous year. The soya bean harvested area peaked at X ha in 2016; however, from 2017 to 2021, the harvested area failed to regain momentum.

Soya Bean Exports

Exports from Mexico

In 2021, overseas shipments of soya beans decreased by -48.6% to X tons, falling for the third consecutive year after two years of growth. Overall, exports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 908% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, soya bean exports reduced remarkably to $X in 2021. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 878% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for soya bean exports from Mexico, with a 85% share of total exports. Moreover, soya bean exports to the United States exceeded the volume sent to the second major destination, Suriname (X tons), more than tenfold. The third position in this ranking was taken by France (X tons), with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +57.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Suriname (-9.2% per year) and France (+310.7% per year).

In value terms, the United States ($X) remains the key foreign market for soya bean exports from Mexico, comprising 82% of total exports. The second position in the ranking was taken by France ($X), with a 6.9% share of total exports. It was followed by Suriname, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +64.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+155.7% per year) and Suriname (-10.8% per year).

Export Prices by Country

In 2021, the average soya bean export price amounted to $X per ton, dropping by -36.4% against the previous year. Over the period under review, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2019 an increase of 71%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Belize ($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 the United States (+4.5%), while the prices for the other major destinations experienced a decline.

Soya Bean Imports

Imports into Mexico

In 2021, supplies from abroad of soya beans increased by 19% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports recorded noticeable growth. The most prominent rate of growth was recorded in 2013 when imports increased by 133%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, soya bean imports expanded remarkably to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +11.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.5% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 112%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

The United States (X tons) and Brazil (X tons) were the main suppliers of soya bean imports to Mexico.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +24.4%).

In value terms, the United States ($X) constituted the largest supplier of soya bean to Mexico, comprising 82% of total imports. The second position in the ranking was taken by Brazil ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +9.7%.

Import Prices by Country

In 2021, the average soya bean import price amounted to $X per ton, falling by -4.2% against the previous year. Overall, the import price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. The import price peaked at $X per ton in 2020, and then dropped slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Brazil totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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