Mexico: Oilseeds and Products Annual

Oilseed production is met with mixed expectations in 2022. Total soybean production is forecast to increase slightly due to higher planted area in marketing year (MY) 2022/23. However, the cancellation of federal commercialization support programs for medium and large oilseed growers has discouraged the planting intentions for the upcoming year. Mexico’s oilseed crushing is forecast to increase by approximately 2.9 percent in MY 2022/23, despite the expected slowdown in Mexico’s economy. On other hand, total consumption of oilseed products is expected to increase a mere 2.7 percent in MY 2022/23 because of the economic slowdown and relatively sluggish demand triggered by persistent inflation.