The demand for sugar cane in Argentina has shown fluctuations over the years, standing at 18.18 million metric tons in 2023. The demand decreased by 0.78% year-on-year from 2022 to 2023 and has a compound annual growth rate (CAGR) of -0.93% over the last five years. The period from 2014 to 2023 witnessed varying trends with significant year-on-year drops in 2015 (-15.83%) and a notable decrease in 2020 (-5.77%). Meanwhile, minor increases were observed in 2016 (3.15%) and 2017 (3.48%). Examining the forecast data from 2024 onwards, the demand is expected to decline, with a CAGR of -0.66% over the next five years, indicating a gradual decrease to 17.43 million metric tons by 2028.
Future trends to watch for:
- Technological advancements in farming and production efficiency.
- Government policies impacting agricultural subsidies and exports.
- Shifts in global sugar markets influencing local supply and demand.
- Environmental factors affecting crop yields and land use.
