Mexico's palm oil imports are projected to grow steadily from 620.0 thousand metric tons in 2024 to 679.0 thousand metric tons by 2028. Given that 2023 imports stood at 605.0 thousand metric tons, this indicates a consistent annual increase.
Year-on-year variations highlight a steady growth:
- 2024: +2.5%
- 2025: +2.4%
- 2026: +2.4%
- 2027: +2.2%
- 2028: +2.3%
The compound annual growth rate (CAGR) over the next five years from 2024 to 2028 averages approximately +2.4% annually.
Future trends to watch for include the impact of sustainability initiatives on palm oil sourcing, fluctuations in global palm oil production and prices, and the adoption of palm oil alternatives which may affect import volumes. Additionally, changes in trade policies and consumer preferences towards healthier and eco-friendly products could further influence the market.
