Grupo Herdez‘s mayonnaise exports stood out among the Mexican company’s foreign purchases in the third quarter of 2024.
From July to September of this year, Grupo Herdez exports amounted to 982 million pesos, a year-on-year increase of 37.9%, driven mainly by mayonnaise.
What is traditional mayonnaise made from? Egg yolk, vinegar and oil. The vinegar can be replaced with lemon. Mustard, salt and pepper can also be added.
Industrialized mayonnaise contains at least 65% vegetable oil. It may or may not contain lemon juice. And it must include at least 6% of commercial liquid egg yolk or its equivalent. In addition, it contains water, vinegar, sugars, salt, spices and seasonings. And at least 0.9% protein.
Mayonnaise exports
Grupo Herdez reported an increase in exports during the third quarter. This growth was due to the good performance of mayonnaise in the self-service channel and increased penetration in the price club channel in new regions. Favorable exchange rate conditions also contributed to this growth.
In dollar terms, sales grew 24.1% in the quarter. For the first nine months of the year, sales reached Ps. 2.337 billion, an increase of 27.1% compared to the previous year.
The company’s products marketed in this segment include canned and packaged foods, mainly mayonnaise, chiles, mole and homemade sauces.
Mexican market
In Mexico, mayonnaise is a popular ingredient in the preparation of a wide variety of dishes. It is also mixed with many types of food, such as tuna, chicken, corn, hamburgers, hot dogs and sandwiches, among others.
An interesting trend in Mexico is that the most popular mayonnaise brands offer products with a touch of lemon. This is the case of leading brands such as McCormick (McCormick de México), Hellmann’s (Cocina Productos) and La Costeña (Conservas La Costeña).
Considering all its segments, Grupo Herdez’s net sales between July and September 2024 were Ps. 9,345 million. This represents an increase of 3.5% compared to the same quarter of 2023.
However, both operating income and EBITDA decreased. These figures fell 0.4% and 0.1%, respectively, to Ps. 1.277 billion and Ps. 1.598 billion.