Sweet Biscuit Price in Mexico Surges 13%, Averaging $2,675 per Ton, Fluctuating Wildly over 2022

Mexico Sweet Biscuit Export Price in July 2022

In July 2022, the sweet biscuit price amounted to $2,675 per ton (FOB, Mexico), growing by 13% against the previous month. Over the period from January 2022 to July 2022, it increased at an average monthly rate of +2.9%. The growth pace was the most rapid in February 2022 an increase of 24% m-o-m. The export price peaked at $3,155 per ton in March 2022; however, from April 2022 to July 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In July 2022, the country with the highest price was Canada ($3,832 per ton), while the average price for exports to Guatemala ($2,604 per ton) was amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+58.9%), while the prices for the other major destinations experienced more modest paces of growth.

Mexico Sweet Biscuit Exports

In July 2022, after two months of decline, there was significant growth in shipments abroad of sweet biscuits, when their volume increased by 89% to 45K tons. Over the period under review, total exports indicated a noticeable expansion from January 2022 to July 2022: its volume increased at an average monthly rate of +4.2% over the last six months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, exports increased by +88.6% against June 2022 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sweet biscuit exports surged to $121M (IndexBox estimates) in July 2022. Overall, total exports indicated resilient growth from January 2022 to July 2022: its value increased at an average monthly rate of +7.2% over the last six months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2022 figures, exports increased by +113.8% against June 2022 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Mexico Sweet Biscuit Exports by Country

The United States (44K tons) was the main destination for sweet biscuit exports from Mexico, with a 97% share of total exports. It was followed by Canada (628 tons), with a 1.4% share of total exports.

From January 2022 to July 2022, the average monthly rate of growth in terms of volume to the United States totaled +6.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Canada (+6.9% per month) and Guatemala (-36.0% per month).

In value terms, the United States ($116M) remains the key foreign market for sweet biscuit exports from Mexico, comprising 96% of total exports. The second position in the ranking was taken by Canada ($2.4M), with a 2% share of total exports.

From January 2022 to July 2022, the average monthly rate of growth in terms of value to the United States totaled +7.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Canada (+7.5% per month) and Guatemala (+1.6% per month).

Sweet Biscuit Market Overview

Mexico's snack food industry has been growing rapidly in recent years, driven by increasing disposable incomes, changing lifestyles, and the availability of a wide range of snacks. While the economic slowdown has affected some segments of the market, such as premium products, overall growth has remained strong.

While the sweet biscuit market in Mexico offers opportunities for growth, there are also some challenges to consider. The competitive landscape is crowded, with both international and domestic players vying for shelf space. In addition, Mexican consumers are price-sensitive and may be reluctant to pay more for premium products.

Source: IndexBox Market Intelligence Platform