Market research

Soybean oil and fractions market in Mexico

$Soybean oil and fractions market in Mexico$

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 Mexican market for soybean oil expanded from 919 thousand tons in 2018 to 1,057 thousand tons in 2023. This growth was underpinned by government policies that consistently supported the use of soybean oil in social programs like school meals, creating stable demand. At the same time, rising global interest in biodiesel increased demand for soybean oil as a feedstock, adding a new industrial outlet alongside traditional food uses.

Consumer preferences shifted toward healthier and more sustainable oils, boosting demand for non-GMO and sustainably produced soybean oil. This trend encouraged refiners to focus on quality and specific extraction methods. The market was further shaped by new technical regulations published in 2022, which standardized specifications for epoxidized soybean oil and blends, helping to formalize production.

Mexico's reliance on soybean imports from the United States remained a key structural feature, though domestic processing capacity grew. By 2024-2025, import values were rising again, and exports were led by states like Nuevo León and Mexico City, reflecting the market's integration into regional trade flows.

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 soybean oil and fractions in Mexico

In kind, 2018-2021, K t

Mexico ranked as the world's 6th largest producer of soybean oil and fractions from 2018 to 2021.

Top producers of soybean oil and fractions, 2018-2021

Source: SHEV.io

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

Source: SHEV.io

Mexico's production of soybean oil and fractions grew for the third consecutive year in 2021, reaching 952.9 thousand tonnes. This represented a modest increase of 8.0% compared to 2020. Over the entire 2018-2021 period, production rose by 19.5%, which translates to an average annual growth rate of 6.1%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	9.7%	0.9%	8.0%	6.1%

Source: SHEV.io

Exports soybean oil and fractions from Mexico

Exports in kind, K t

In 2021, Mexico's exports of soybean oil and fractions amounted to 0.4 thousand tonnes, a sharp decline of 97.8% from the previous year. From 2018 to 2021, exports fell by 97.9%, with a compound annual growth rate of -72.6%.

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	(97.8%)	(72.6%)

Source: SHEV.io

Between 2018 and 2021, Venezuela and Cuba were the primary destinations for Mexico's soybean oil and fractions exports, while other markets played a much smaller role.

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

Mexico's soybean oil and fractions export value stood at 0.5 million US dollars in 2021, down 97.0% from 2020. Over the 2018-2021 period, export value decreased by 97.4%, with a compound annual growth rate of -70.3%.

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	(97.0%)	(70.3%)

Source: SHEV.io

From 2018 to 2021, Venezuela and Cuba dominated Mexico's soybean oil and fractions export value, accounting for 82.7% of the total. Other markets contributed only marginally.

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 soybean oil and fractions to Mexico

Imports in kind, K t

Mexico's imports of soybean oil and fractions declined for the third year in a row in 2021, reaching 27.3 thousand tonnes. This marked a 73.0% drop compared to 2020. Over the 2018-2021 period, imports fell by 80.4%, with a compound annual growth rate of -42.0%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(9.6%)	(19.9%)	(73.0%)	(42.0%)

Source: SHEV.io

The United States was the overwhelming supplier of soybean oil and fractions to Mexico from 2018 to 2021, accounting for 98.6% of total imports by volume.

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

Mexico's import value for soybean oil and fractions decreased for the third consecutive year in 2021, totaling 38.0 million US dollars. This reflected a 59.8% decline from 2020. Between 2018 and 2021, import value dropped by 71.2%, with a compound annual growth rate of -34.0%.

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