The soybean supply in Mexico for the year 2024 is forecasted at 6.87 million metric tons. Comparative analysis for the subsequent years reveals a gradual increase: 6.97 million metric tons in 2025, 7.06 million metric tons in 2026, 7.15 million metric tons in 2027, and 7.24 million metric tons in 2028. As the data for 2023 shows, the soybean supply was at 6.78 million metric tons, indicating a steady upward trajectory.
Year-on-year percentage variations exhibit a consistent positive trend: a 1.47% increase from 2024 to 2025, a 1.29% rise from 2025 to 2026, a 1.25% growth from 2026 to 2027, and a 1.26% gain from 2027 to 2028. The cumulative annual growth rate (CAGR) across these five years is approximately 1.28%, demonstrating a stable increment in soybean production.
Future trends to watch for:
- Impact of climate change on soybean yield and supply.
- Technological advancements in farming practices to increase productivity.
- Government policies and subsidies that could affect soybean production levels.
- Global market demand and trade dynamics influencing Mexico's soybean exports and imports.
- Fluctuations in input costs such as fertilizers, labor, and machinery potentially impacting production expenses.
