Forecast: Fertilizer Consumption in Mexico

Analysis of fertilizer consumption in Mexico over the past decade reveals a varied trend. Starting from 92.14 kilograms per hectare in 2013, there were notable fluctuations peaking at 109.59 kilograms per hectare in 2023. Year-on-year variations ranged from a high of 23.61% in 2016 to a low of -10.11% in 2015. The compound annual growth rate (CAGR) over the years displayed a decreasing trend, from 10.24% in 2013 to 0.73% in 2023. Notably, the values in 2023 marked a subtle increase of 0.45% from the previous year.

Looking forward to future trends, it's anticipated that fertilizer consumption will grow at a modest pace with a forecasted 5-year CAGR of 0.31%, reaching 111.8 kilograms per hectare by 2028. Analysts should monitor:

• Environmental policies and sustainable farming practices.
• Developments in fertilizer technology and efficiency.
• Market responses to changes in crop demand and agricultural productivity.