The oil palm fruit production in Mexico has shown a dynamic growth trend over the years based on historical data from 2013 to 2023. In 2023, the production stood at 1372.6 thousand metric tons. Notably, the production experienced a significant annual growth of 4.35% compared to the previous year. The five-year CAGR leading up to 2023 demonstrates a steady increase at an average yearly rate of 6.89%.
Examining the variations over the last two years:
- 2022: Year-on-year growth was 4.65%.
- 2023: Year-on-year growth was 4.35%.
Looking ahead, forecasts for 2024 and beyond anticipate continued growth, with a projected production increase to 1671.6 thousand metric tons by 2028. The forecasted five-year compound annual growth rate (CAGR) from 2024 to 2028 is projected at 3.09%, with an overall growth rate of 16.45% over the same period.
Future trends to watch for include the impact of sustainable farming practices, potential climatic changes, shifts in global demand, and advancements in agricultural technology. Monitoring these factors will be crucial for anticipating further trends in oil palm fruit production in Mexico.
