Based on the provided forecast data, Canada’s rice imports are projected to rise steadily from 2024 to 2028. In 2023, the actual import value stood at 347.80 thousand metric tons. For 2024, imports are forecasted to be 353.62 thousand metric tons, with incremental increases each year, reaching 377.12 thousand metric tons by 2028.
Year-on-year variations are as follows:
- 2024: 1.67% increase
- 2025: 1.68% increase
- 2026: 1.64% increase
- 2027: 1.60% increase
- 2028: 1.57% increase
Over the five-year forecast period, the Compound Annual Growth Rate (CAGR) is approximately 1.63%.
Future trends to watch for include potential impacts from global rice production variability, changes in trade policies, and shifts in consumer dietary preferences. Monitoring these factors will be crucial for accurate future projections and strategic decision-making.