The maize consumption at the farm gate in Vietnam has shown a substantial upward trend from 2013 to 2023, starting at 7.36 million metric tons in 2013 and reaching 19.01 million metric tons in 2023. The year-on-year growth has generally been positive with some fluctuations, such as a notable decline in 2017. Over the last two years, the growth rate has been stable, with percentage variations of 4.87% in 2022 and 4.6% in 2023. The compound annual growth rate (CAGR) over the last five years stood at 5.26%, indicating steady growth.
Future trends to watch for:
- The forecasted data from 2024 to 2028 suggest continued growth, with the expected CAGR over the next five years at 3.06% and an overall growth rate of 16.28%.
- Potential factors influencing future trends include changes in agricultural policy, climate conditions, and advancements in farming technology.
- Monitoring market demand and export opportunities will be crucial for sustaining these growth trends in the maize sector.
