Analysis of year-on-year variations over the last two years highlights a steady increase in harvested area: 2022 saw a 1.97% increase, while 2023 recorded a 1.93% increase. The Compound Annual Growth Rate (CAGR) over the past five years (2019-2023) was 4.82%, indicating robust growth in this agricultural sector.
Future trends to watch include the forecasted CAGR of 1.46% for the next five years, with an overall growth rate of 7.49% by 2028. These projections suggest a continued expansion, albeit at a slower rate, driven by improvements in agricultural practices and potential global demand shifts.
