Mexico: Oilseeds and Products Annual

FAS/Mexico expects slower growth in the vegetable oil and oil meal sectors in marketing year (MY) 2023/24 compared to recent years, given potential declines in consumer purchasing power, a forecast slowdown in Mexico’s economy, and persistent inflation. Mexico’s oilseed crushing is forecast to increase based on population growth and meal demand from growth in the livestock sector. There is no significant forecasted expansion in production capacity for MY 2023/24. Mexico remains dependent on imported oilseeds and oilseed products, primarily soybean from the United States and rapeseed from Canada.