Mexico: Linseed Oil Market 2024

Linseed Oil Market Size in Mexico

In 2022, after three years of growth, there was significant decline in the Mexican linseed oil market, when its value decreased by X% to $X. Overall, consumption continues to indicate a noticeable decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Linseed Oil Production in Mexico

In value terms, linseed oil production rose slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Linseed Oil Exports

Exports from Mexico

In 2022, shipments abroad of linseed oil increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, linseed oil exports reduced to $X in 2022. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

El Salvador (X tons) was the main destination for linseed oil exports from Mexico, accounting for a X% share of total exports. Moreover, linseed oil exports to El Salvador exceeded the volume sent to the second major destination, Canada (X tons), twofold. The third position in this ranking was taken by Guatemala (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Guatemala (X% per year).

In value terms, the largest markets for linseed oil exported from Mexico were Guatemala ($X), El Salvador ($X) and Canada ($X), with a combined X% share of total exports.

El Salvador, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average linseed oil export price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Linseed Oil Imports

Imports into Mexico

For the fourth consecutive year, Mexico recorded decline in supplies from abroad of linseed oil, which decreased by X% to X tons in 2022. Overall, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, linseed oil imports contracted notably to $X in 2022. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of linseed oil to Mexico, with a X% share of total imports. Moreover, linseed oil imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Canada (X% per year).

In value terms, the United States ($X) constituted the largest supplier of linseed oil to Mexico, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Canada (X% per year).

Import Prices by Country

The average linseed oil import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price posted a buoyant expansion. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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