The import of maize to Malaysia is expected to steadily increase from 2024 to 2028, starting at 870.68 million USD in 2024 and reaching 911.38 million USD by 2028. The year-on-year growth rate indicates a consistent upward trend with minor fluctuations, showcasing a stable demand for maize imports. Comparing with the actual figure for 2023, which we assume stood slightly lower considering the forecasted rise, these values underscore a gradual but steady import growth.
Key variations are as follows:
- 2024: 870.68 million USD
- 2025: 881.17 million USD (YoY increase of 1.20%)
- 2026: 891.44 million USD (YoY increase of 1.16%)
- 2027: 901.51 million USD (YoY increase of 1.13%)
- 2028: 911.38 million USD (YoY increase of 1.09%)
The average annual growth rate (CAGR) over the five years from 2024 to 2028 is approximately 1.15%, reflecting a steady increase in maize imports.
Future trends to watch for include potential changes in domestic maize production, international trade policies, and global maize supply chain dynamics, which could influence Malaysia's maize import requirements. Additionally, shifts in local consumption patterns and advancements in agricultural technology may impact future import volumes.
