The forecast for sorghum demand in Argentina for the years 2024 to 2028 shows a declining trend. In 2023, the actual demand stood at 1.20 Million Metric Tons. From 2024 onwards, the demand is forecasted to decrease steadily each year: 2024 at 1.12, 2025 at 1.05, 2026 at 0.9758, 2027 at 0.90395, and 2028 at 0.83354 Million Metric Tons.
The year-on-year variation indicates a decreasing trend. For example, the demand drops by approximately 6.25% from 2024 to 2025, 7.05% from 2025 to 2026, 7.36% from 2026 to 2027, and 7.34% from 2027 to 2028. On average, the Compound Annual Growth Rate (CAGR) over the five years is a decline of around 7.01%.
Future trends to watch for include potential changes in domestic agricultural policies, international markets' influence on export demand, and climatic conditions affecting sorghum production. Additionally, technological advancements in farming practices could impact yield and consequently, supply and demand dynamics.
