The rapeseed oil production in Mexico stood at 616.21 thousand metric tons in 2023. Over the past decade, production has seen fluctuations with a combination of both increases and decreases year-on-year. For instance, the lowest point was observed in 2018 with a significant drop of 8.88%, while 2017 and 2021 marked notable increases. The CAGR over the last five years has been relatively modest at 1.71%, indicating steady growth overall.
From 2024 onwards, forecasted data show a consistent increase in production, with an anticipated growth rate of 3.99% over the next five years and a CAGR of 0.79% from 2023 to 2028.
Future trends to watch for include:
- Technological advances in agricultural practices that could enhance yield.
- Changes in domestic and international demand for rapeseed oil.
- Potential impact of climate change on crop production.
- Government policies and subsidies related to agricultural production.