Market research

Palm oil and fractions market in Mexico

$Palm oil and fractions market in Mexico$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The palm oil market in Mexico grew from 561 thousand tons in 2018 to 743 thousand tons in 2020. This expansion coincided with the first Mexican company obtaining RSPO certification for sustainable palm oil production in 2020, a move that bolstered responsible sourcing and likely supported market growth.

Market volume then contracted to 565 thousand tons by 2022, despite a rise in domestic production. During this period, cultivation expanded in states like Chiapas, Campeche, and Tabasco, while growing consumer demand for organic palm oil in cosmetics and processed foods stimulated local output. The overall market decline was primarily due to a significant drop in imports.

The market rebounded strongly to 776 thousand tons in 2023. By 2024, the market was valued at approximately 1.06 billion dollars, with growth fueled by demographic factors, processed food consumption, and biofuels. Concurrently, new environmental norms for managing fats and oils in Mexico City and industry actions to comply with upcoming European sustainability regulations began shaping market dynamics.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Mexico
  1. 5.1.1. Annual dynamics of production in Mexico in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Mexico in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's imports to Mexico in kind, 2018-2025, K t
    2. 6.1.2.2. Dynamics of product's imports in kind to Mexico by countries, 2018-2025, K t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.1.3. Imports in value, M $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Mexico in value, 2018-2025, M $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Mexico by countries, 2018-2025, M $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Mexico, 2018-2025, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to Mexico by countries, 2018-2025, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's imports to Mexico in kind, 2018-2025, K t
    2. 6.2.2.2. Dynamics of product's imports in kind to Mexico by countries, 2018-2025, K t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.2.3. Imports in value, M $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Mexico in value, 2018-2025, M $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Mexico by countries, 2018-2025, M $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Mexico, 2018-2025, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to Mexico by countries, 2018-2025, $ US/t
7. Exports
1. 7.1. Exports (Direct Data)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's exports from Mexico in kind, 2018-2025, K t
    2. 7.1.2.2. Dynamics of product's exports in kind from Mexico by countries, 2018-2025, K t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.1.3. Exports in value, M $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Mexico in value, 2018-2025, M $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Mexico by countries, 2018-2025, M $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's exports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Mexico, 2018-2025, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's exports from Mexico by countries, 2018-2025, $ US/t
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's exports from Mexico in kind, 2018-2025, K t
    2. 7.2.2.2. Dynamics of product's exports in kind from Mexico by countries, 2018-2025, K t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.2.3. Exports in value, M $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Mexico in value, 2018-2025, M $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Mexico by countries, 2018-2025, M $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's exports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Mexico, 2018-2025, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's exports from Mexico by countries, 2018-2025, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, M $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, M $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production palm oil and fractions in Mexico

In kind, 2018-2021, K t

Globally, Mexico ranked as the 17th largest producer of palm oil and fractions from 2018 to 2021.

Top producers of palm oil and fractions, 2018-2021

Source: SHEV.io

World map of production of palm oil and fractions, 2018-2021

Source: SHEV.io

Mexico's production of palm oil and fractions grew for the third year in a row. In 2021, the country produced 320.1 thousand tons, marking a gradual increase of 7.0% compared to the previous year. Over the period from 2018 to 2021, production rose by 54.9%, which translates to an annualized growth rate of 15.7%.

Annual dynamics of production in Mexico in kind, 2018-2021, K t

Parameter		2019	2020	2021	CAGR
1	Change from last year	31.3%	10.3%	7.0%	15.7%

Source: SHEV.io

Exports palm oil and fractions from Mexico

Exports in kind, K t

In 2021, Mexico's exports of palm oil and fractions totaled 0.9 thousand tons, representing an 83.4% decrease from 2020.

Annual dynamics of product's exports from Mexico in kind, 2018-2021, K t

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	n/a	(83.4%)	-

Source: SHEV.io

From 2018 to 2021, the United States was nearly the sole buyer of palm oil and fractions from Mexico, accounting for 99.6% of total exports in volume.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Mexico in kind, 2018-2021

Source: SHEV.io

Exports in value, M $ US

In 2021, Mexico's exports of palm oil and fractions reached 1.0 million US dollars, showing a sharp decline of 75.4% year-over-year.

Annual dynamics of product's exports from Mexico in value, 2018-2021, M $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	n/a	n/a	(75.4%)	-

Source: SHEV.io

Between 2018 and 2021, the United States clearly dominated as the primary buyer of palm oil and fractions from Mexico, taking 99.6% of total exports in value.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Mexico in value, 2018-2021

Source: SHEV.io

Imports palm oil and fractions to Mexico

Imports in kind, K t

After two years of growth, Mexico's imports of palm oil and fractions fell. In 2021, import volume stood at 254.6 thousand tons, reflecting a sharp drop of 43.3% compared to the previous year. Over the 2018-2021 period, imports decreased by 28.2%, with a compound annual growth rate of -10.5%. The highest import volume was recorded in 2020 at 448.8 thousand tons, which also saw the largest increase of 23.4%.

Annual dynamics of product's imports to Mexico in kind, 2018-2021, K t

Parameter		2019	2020	2021	CAGR
1	Change from last year	2.5%	23.4%	(43.3%)	(10.5%)

Source: SHEV.io

From 2018 to 2021, the main sources for Mexico's imports of palm oil and fractions in volume were Costa Rica (31.9% of imports), Guatemala (31.1% of imports), and Colombia (19.0% of imports), together making up 82.0% of total imports.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Mexico in kind, 2018-2021

Source: SHEV.io

Imports in value, M $ US

In 2021, Mexico imported approximately 229.5 million US dollars worth of palm oil and fractions, which is 32.5% lower than in 2020. Between 2018 and 2021, imports decreased by 14%, equating to an annualized rate of -4.9%. The lowest value was recorded in 2019 at 218.9 million US dollars, while the highest was in 2020 at 340.0 million US dollars, which also experienced the largest increase of 55.4%.

Annual dynamics of product's imports to Mexico in value, 2018-2021, M $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(17.9%)	55.4%	(32.5%)	(4.9%)

Source: SHEV.io

Throughout 2018-2021, Guatemala (31.7% of imports in value), Costa Rica (31.3% of imports in value), and Colombia (15.0% of imports in value) formed the core of Mexico's palm oil and fractions imports, collectively accounting for 78.0% of total import value.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Mexico in value, 2018-2021

Source: SHEV.io