Ingredion's Mexico Headwinds Persist: Can LATAM Profitability Recover?

Ingredion Incorporated faces continued pressure in its Latin America business, particularly in Mexico, where softer volumes and unfavorable transactional currency effects are impacting profitability. Q2 2026 LATAM operating income declined 7% despite 3% sales growth, with operating margins falling to 19.3% from 21.3%. For full-year 2026, LATAM sales are expected to grow low single digits while operating income is projected to decline low single digits, with Mexico's currency headwinds and macroeconomic challenges remaining key concerns.