The forecasted data for Canada's wheat export volume indicates a gradual decline from 23.29 million metric tons in 2024 to 22.95 million metric tons in 2028. In 2023, the actual export volume stood at 23.4 million metric tons, emphasizing a slight but consistent decrease year-on-year.
- Between 2024 and 2025, the export volume is anticipated to decrease by approximately 0.39%.
- From 2025 to 2026, a further decline of about 0.34% is expected.
- The years 2026 to 2027 suggest a similar reduction of 0.39%.
- Finally, between 2027 and 2028, the predicted decrease is about 0.35%.
Observing a continuous downtrend with a compound annual growth rate (CAGR) expected to be negative over the five-year forecast period ending in 2028, this reflects persistent challenges in sustaining higher export volumes.
Future trends to watch for include potential shifts in global demand, climate change impacts on yield, trade policy changes, and competitive dynamics from other major wheat-exporting countries which could influence Canada's wheat export volumes and market share.
