From 2013 to 2023, Mexico's import of Virgin Olive Oil demonstrated fluctuating trends. The value initially increased, then experienced some declines, followed by significant growth. The year-on-year variations show noticeable changes with considerable jumps in certain periods (e.g., 2018 and 2021) and declines in others (e.g., 2014, 2017, and 2020). By 2023, the import value stood at 72.985 million USD, with a slight gain in recent percentage variations reflecting moderate growth.
The forecasted data from 2024 to 2028 suggests a steady upward trajectory, with projected imports reaching 84.795 million USD by 2028, marking an average annual growth rate (CAGR) of 2.36% over the next five years.
Trends to watch for:
- Economic conditions and exchange rates that may impact import costs.
- Changes in consumer preferences toward healthier oils.
- Potential supply chain disruptions affecting availability and pricing.
