Mexico: Vegetable Oils Market 2024

Vegetable Oils Market Size in Mexico

The Mexican vegetable oils market expanded slightly to $X in 2022, growing by X% against the previous year. Overall, consumption, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Oils Production in Mexico

In value terms, vegetable oils production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Vegetable oils production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Oils Exports

Exports from Mexico

In 2022, the amount of vegetable fats and oils exported from Mexico shrank dramatically to X tons, declining by X% on 2021. In general, exports faced a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable oils exports reached $X in 2022. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for vegetable oils exports from Mexico, accounting for a X% share of total exports. Moreover, vegetable oils exports to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), ninefold. Belize (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Belize (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for vegetable fats and oils exports from Mexico, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports. It was followed by Belize, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Belize (X% per year).

Export Prices by Country

The average vegetable oils export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price saw a tangible expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belize (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Oils Imports

Imports into Mexico

Vegetable oils imports into Mexico dropped slightly to X tons in 2022, approximately reflecting 2021 figures. Overall, imports, however, continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vegetable oils imports soared to $X in 2022. Over the period under review, imports, however, showed notable growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of vegetable oils imports to Mexico, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable oils suppliers to Mexico were Indonesia ($X), the United States ($X) and Malaysia ($X), together accounting for X% of total imports.

In terms of the main suppliers, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average vegetable oils import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a slight shrinkage. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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