Based on the historical data, the value of maize production at the farm gate in Vietnam experienced significant fluctuations between 2013 and 2023. The highest value recorded within this period was in 2016, at $1.84 billion, while the lowest was in 2013, at $1.28 billion. The notable decline from 2016 to 2017 (-29.19%) was followed by smaller fluctuations and a stable recovery. The 2023 value was $1.48 billion, marking a 3.5% year-on-year increase from 2022.
Looking ahead, forecasted data suggest a consistent growth trend in maize production value, with an average annual growth rate of 2.33% expected from 2024 to 2028. By 2028, the production value is anticipated to reach $1.71 billion, reflecting a cumulative growth of 12.19% over the five-year period.
Future trends to watch for:
- Technological advancements in farming practices that may enhance productivity and profitability.
- Government policies and incentives aimed at supporting agricultural development.
- Potential impacts of climate change on maize yields and production stability.
- Shifts in global and regional market demand influencing export opportunities.
