The cassava production in South America has experienced a downward trend from 2014 to 2023, decreasing from 30.61 million metric tons to 23.54 million metric tons, reflecting an overall contraction in the market. In 2023, the production stood at 23.54 million metric tons, marking a year-on-year decline of 1.71%. Over the last five years, the compounded annual growth rate (CAGR) has shown a steady decline of approximately 1.45%. Notably, between 2019 and 2020, the area saw a sharper decline with a year-on-year drop of 6.63%, followed by a slight recovery in 2021 with a 3.45% increase. However, the trend returned to a negative trajectory in 2022 and 2023.
Future trends to watch for include:
• Anticipated continuation of the decline with a -1.51% CAGR forecasted over the next five years till 2028.
• Forecasted overall reduction in production by 7.31% by 2028.
• Potential impact of changing agricultural practices, climate change, and economic factors influencing both production and demand.
