Vegetable oil production in Mexico has seen varied fluctuations over the past decade. Year-on-year variations include significant peaks in 2017 (+4.78%) and 2021 (+5.85%), with notable declines in 2018 (-0.49%) and 2020 (-4.4%). Over the last two years, there was a moderate increase of 0.55% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years was approximately 0.53%.
Looking ahead, production is forecasted to gradually increase from 1.46 million metric tons in 2024 to 1.49 million metric tons in 2028, reflecting a 5-year CAGR of 0.43%. This suggests a steadier but slower growth pattern compared to historical rates. Key trends to watch include potential changes in agricultural practices, technological advancements, and impacts of climate change on crop yields.
