The opening inventories in this sector saw significant fluctuations between 2013 and 2022. While years 2014 and 2017 experienced notable declines of 15.48% and 14.55%, respectively, the period from 2018 onwards shows a recovery trend with positive year-on-year variations. Notably, inventories grew by 7.64% in 2022 and by 7.03% in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) was 8.87%. Looking forward, the forecasted CAGR for the next five years stands at 4.36%.
Future trends to watch include technological advancements in machinery, which could impact inventory turnover rates, and potential supply chain disruptions. Also, economic conditions influencing farm incomes and construction activity could drive inventory levels higher or lower.
