Mexico: Sugar Crop Market 2024

Sugar Crop Market Size in Mexico

The Mexican sugar crop market rose markedly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Sugar crop consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Sugar Crop Production in Mexico

In value terms, sugar crop production soared to $X in 2022 estimated in export price. In general, production, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

The average yield of sugar crops in Mexico totaled X tons per ha in 2022, approximately mirroring the year before. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2022, the growth of the average sugar crop yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar crop harvested area in Mexico shrank to X ha in 2022, which is down by X% on the previous year. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to sugar crop production attained the peak figure at X ha in 2021, and then reduced modestly in the following year.

Sugar Crop Exports

Exports from Mexico

For the third consecutive year, Mexico recorded decline in overseas shipments of sugar crops, which decreased by X% to X tons in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, sugar crop exports contracted notably to $X in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

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

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

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

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

Export Prices by Country

The average sugar crop export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price posted a resilient expansion. 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 X% per year.

Sugar Crop Imports

Imports into Mexico

For the fourth consecutive year, Mexico recorded decline in overseas purchases of sugar crops, which decreased by X% to X tons in 2022. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar crop imports amounted to $X in 2022. In general, imports saw a deep slump. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Spain (X tons), the United States (X tons) and Morocco (X kg) were the main suppliers of sugar crop imports to Mexico, with a combined X% share of total imports.

From 2013 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X), Spain ($X) and Switzerland ($X) appeared to be the largest sugar crop suppliers to Mexico, with a combined X% share of total imports.

Among the main suppliers, the United States, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average sugar crop import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :