Forecast Mexican agave prices, harvest sizes, and how the supply reset reshapes margins across tequila and mezcal through 2026.
Agave prices crashed from 2023 highs as planting from the boom years matured into a glut. Farmer protests, regional shortages of mature plants, and the long maturation cycle make the next several years volatile. These markets track the published agave price benchmarks and the operational responses across producers.