The Maize Oil market in Mexico has demonstrated significant fluctuations over the past decade with actual volumes standing at 31 thousand metric tons in 2023, showing no year-on-year variation. Historical trends indicate periods of volatility, particularly between 2017 and 2020 with fluctuations ranging from -17% to +25.93%. The latter years have seen stabilization with moderate growth, reflecting a 5-year CAGR of 1.34%. Forecasts from 2024 to 2028 suggest continued stability and slight growth, projecting a 0.44% CAGR and a 2.24% overall increase in volume.
Future trends to watch for:
- Potential impact of climate change on crop yields
- Increasing consumer demand for healthier, non-GMO oils
- Technological advancements in maize oil extraction
- Government policies and trade agreements influencing agricultural trade
- Market dynamics of substitute oils such as sunflower and canola oil
