Key Market Indicators
Mexican consumption of soybean oil is projected to decrease by 0.2% year on year to 510,650 metric tons by 2026. In 2021, Mexico was the sixth-largest consumer of soybean oil, behind Iran's 516,000 metric tons. China, India, and Brazil occupied the second, third, and fourth spots, respectively. Meanwhile, Mexican soybean oil production is expected to grow by 3.2% year on year to reach 1.06 million metric tons by 2026. In 2021, India surpassed Mexico's 877,260 metric tons to claim the sixth spot. The United States, Brazil, and Argentina ranked second, third, and fourth, respectively.
