Virgin Olive Oil production in Mexico has shown a notable decline from 240 metric tons in 2013 to 78 metric tons in 2023, significantly dropping by 9.3% year-over-year in the latest period. The Compound Annual Growth Rate (CAGR) from 2016 to 2023 averages a negative 10.78% per year, reflecting consistent underperformance.
Between 2024 and 2028, forecasts indicate a continued decrease in production, from 68.6 metric tons to 33.6 metric tons. The forecasted average annual reduction over this five-year period is 13.3%, equating to a total drop of 51.02% over the same interval.
Future trends to watch for:
- Potential changes in agricultural practices or new initiatives aimed at revitalizing olive production.
- Shifts in global olive oil supply chains that may impact Mexico's market.
- Economic or climatic conditions affecting olive cultivation and productivity in the region.
