The forecasted domestic consumption of wheat in the Philippines shows a steady upward trend from 2024 to 2028, increasing annually from 6.1 million metric tons in 2024 to 6.49 million metric tons in 2028. In 2023, actual consumption stood at 6 million metric tons. The year-on-year variation indicates a consistent growth rate of approximately 1.64% each year for the initial years, with slight acceleration to 1.43% and 1.56% during the latter period forecasted for 2027 and 2028, respectively. The compound annual growth rate (CAGR) over these five years stands at 1.56%.
Future trends to watch for:
- Potential shifts in local agricultural policies that might impact wheat importation and consumption.
- Economic factors influencing consumer purchasing power and demand for wheat-based products.
- Technological advancements in wheat production and processing that could affect domestic consumption patterns.
- Climate change effects on global wheat supply, potentially influencing prices and availability in the Philippines.
