Mexico: Vegetable Product Market 2024

Vegetable Product Market Size in Mexico

The Mexican vegetable product market contracted to $X in 2022, with a decrease of -9.5% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Vegetable Product Production in Mexico

In value terms, vegetable product production dropped markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a slight reduction. The pace of growth was the most pronounced in 2017 with an increase of 112% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average vegetable product yield in Mexico stood at X tons per ha, standing approx. at the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 13%. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2022, the growth of the average vegetable product yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of vegetable products production in Mexico reduced modestly to X ha, waning by -2.3% on 2021. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 6.5%. The vegetable product harvested area peaked at X ha in 2021, and then shrank slightly in the following year.

Vegetable Product Exports

Exports from Mexico

In 2022, overseas shipments of vegetable products decreased by -42.5% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 680% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, vegetable product exports fell rapidly to $X in 2022. Overall, exports, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 425% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for vegetable product exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +6.1%.

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +6.0%.

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, which is down by -14.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 96% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Belize amounted to +344.5% per year.

Vegetable Product Imports

Imports into Mexico

In 2022, the amount of vegetable products imported into Mexico declined dramatically to X tons, with a decrease of -28.2% against 2021. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 28,563% against the previous year. As a result, imports attained the peak of X tons, and then dropped significantly in the following year.

In value terms, vegetable product imports rose modestly to $X in 2022. In general, imports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 27,918% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vegetable product to Mexico, with a 77% share of total imports. Moreover, vegetable product imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +121.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+22.7% per year) and the United States (+36.2% per year).

In value terms, China ($X) constituted the largest supplier of vegetable products to Mexico, comprising 88% of total imports. The second position in the ranking was taken by Hungary ($X), with a 2.1% share of total imports. It was followed by Spain, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +120.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-86.2% per year) and Spain (+22.3% per year).

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, with an increase of 44% against the previous year. Overall, the import price recorded a strong increase. The growth pace was the most rapid in 2017 when the average import price increased by 63%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 China ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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