Based on the historical data and forecasts, the import value of soybean oil to Mexico has shown notable fluctuations over the past decade. From a high of $226.32 million in 2013, the value has generally declined, standing at $146.71 million in 2023. Year-on-year variations have been quite volatile, exemplified by sharp declines such as -30.69% in 2018 and notable increases, including 19.28% in 2021. Over the last five years, the CAGR has shown a slight positive trend of 2.11%, suggesting mild recovery, though it is expected to decline with a CAGR of -0.84% in the next five years.

Future trends to watch for:

Potential trade policy changes affecting import tariffs or quotas.
Shifts in global soybean oil supply and demand, especially from major producers.
Domestic production changes that could impact import necessity.