A suspected arson attack left nine people dead on Monday in a sprawling wholesale market in central Mexico, authorities said.

Security camera footage showed armed suspects pouring what is thought to have been a flammable liquid before fleeing the market in Toluca, the state prosecutor's office said.

"Nine people lost their lives, eight of them at the site and one more in a hospital," according to a statement, which said the fire could be linked to business conflicts.

Toluca's Central de Abastos is the second-largest market in Mexico, with around 26,000 daily visitors, according to authorities.

The city, located near Mexico City, is the capital of the State of Mexico, the country's most populous and one of its most dangerous due to crime.

Toluca mayor Raymundo Martinez told the Milenio newspaper that the fire was probably the result of disputes between vendors and owners of premises at the market.