The production of cottonseed oil in Mexico has seen significant fluctuations over the past decade. Starting from 41.0 thousand metric tons in 2013, production reached its lowest point in 2016 at 31.9 thousand metric tons, rebounding to 59.78 thousand metric tons in 2023. This represents a mix of periods of decline and substantial growth, with year-on-year variations ranging from -30.04% to 36.36%. Over the past two years, production grew modestly with year-on-year increases of 2.29% in 2022 and 2.19% in 2023. From 2018 to 2023, the compound annual growth rate (CAGR) was 0.43%, indicating slow but steady growth.
Looking ahead, from 2024 onwards, production is forecasted to continue its upward trend, reaching 66.47 thousand metric tons by 2028. The forecasted 5-year CAGR stands at 1.67%, anticipating a total growth rate of 8.64% over this period.
Future Trends to Watch For:
- Technological advancements in agricultural practices.
- Impact of climate change on cotton yields.
- Fluctuations in global demand for cottonseed oil.
- Economic policies affecting agricultural subsidies and trade.
