In 2023, Canada's dry peas production was slightly below the forecasted 2.8762 million metric tons for 2024. The forecast predicts a steady increase in production, reaching 2.9457 million metric tons by 2028. Year-on-year growth remains modest, averaging around 0.6%, reflecting stable market conditions. The compound annual growth rate (CAGR) over the forecasted period (2024-2028) is approximately 0.6%, indicating a slow but consistent expansion in production.
Future trends to watch for:
- Impact of climate change on crop yields and production consistency.
- Government policies and trade relations affecting export markets.
- Advances in agricultural technology that could enhance productivity.
