Forecast: Import of Fertilizers Containing Phosphorus and Potassium to Mexico

The import of fertilizers containing phosphorus and potassium to Mexico has displayed significant volatility from 2013 to 2023. In 2013, imports valued at 1.6836 million USD marked the highest point, followed by a downward trend. By 2023, imports stood at 0.72839 million USD, reflecting a consistent decline. The past five years (2018-2023) averaged at a CAGR of -7.3%, underscoring this decline. Variations across individual years further illustrate this trend, with rates fluctuating sharply, indicative of market sensitivity and changing demands.

Looking forward, the forecasted period (2024-2028) suggests a continued decrease in imports, projecting a 5-year CAGR of -4.16% and an overall decline of approximately 19.14% by 2028. These forecasts suggest strategic reassessment for stakeholders involved in the import and trade of these fertilizers.

Future trends to watch for include potential policy changes impacting import tariffs, technological advancements in local fertilizer production, and shifts in agricultural demand driven by environmental conditions and economic factors.