Thailand's sugar cane production has shown significant variability over the past decade. It peaked at 135.07 million metric tons in 2018, shortly after a low of 93.09 million metric tons in 2017. From 2018 to 2023, there was a general upward trend with minor annual fluctuations. By 2023, production stood at 132.98 million metric tons, reflecting a modest year-on-year growth of 1.57%, although the five-year CAGR from 2019 to 2023 suggests a slight contraction of -0.31% annually.
Looking forward, from 2024 to 2028, the forecast indicates a steady growth in production, reaching 143.69 million metric tons by 2028. The projected five-year CAGR for this period is 1.22%, translating to an overall growth of 6.26%.
Trends to Watch For:
- Climate changes influencing agricultural yields.
- Policy changes and subsidies impacting agricultural productivity.
- Technological advancements in farming techniques.
- Global market demand fluctuations for sugar products.
- Export policies and international trade agreements.
