Mexico: Oleo Oils Market 2022

Oleo Oils Market Size in Mexico

In 2021, after nine years of growth, there was decline in the Mexican oleo oils market, when its value decreased by -X% to $X. In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +X% 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 +X% against 2012 indices. Oleo oils consumption peaked at $X in 2020, and then fell slightly in the following year.

Oleo Oils Production in Mexico

In value terms, oleo oils production fell to $X in 2021 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2017 indices. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then dropped modestly in the following year.

Oleo Oils Exports

Exports from Mexico

In 2021, approx. X kg of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil were exported from Mexico; increasing by X% compared with the previous year's figure. Overall, exports posted a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, oleo oils exports soared to $X in 2021. In general, exports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for oleo oils exports from Mexico, accounting for a X% share of total exports. Moreover, oleo oils exports to Canada exceeded the volume sent to the second major destination, Aruba (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to +X%.

In value terms, Canada ($X) emerged as the key foreign market for oleo oils exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Aruba ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada totaled +X%.

Export Prices by Country

The average oleo oils export price stood at $X per ton in 2021, shrinking by -X% against the previous year. Overall, the export price recorded a noticeable downturn. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Aruba ($X per ton), while the average price for exports to Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Aruba (+X%).

Oleo Oils Imports

Imports into Mexico

In 2021, after three years of growth, there was significant decline in overseas purchases of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, when their volume decreased by -X% to X tons. In general, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, oleo oils imports contracted markedly to $X in 2021. Over the period under review, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2020, and then fell markedly in the following year.

Imports by Country

In 2021, the United States (X tons) was the main oleo oils supplier to Mexico, with a approx. X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +X%.

In value terms, the United States ($X) constituted the largest supplier of oleo oils to Mexico.

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

Import Prices by Country

The average oleo oils import price stood at $X per ton in 2021, increasing by X% against the previous year. In general, the import price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2016 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 2017 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -X% per year.

Source: IndexBox Market Intelligence Platform

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