Forecast: Sorghum Demand in Thailand

In 2023, the sorghum demand in Thailand stood at 30.0 thousand metric tons. Forecasted data indicates a slight decline in demand over the next few years, with values of 29.0 thousand metric tons in 2024 and 2025, decreasing to 28.0 in 2026, and further to 27.0 by 2027 and 2028.

Year-on-year variations in sorghum demand are as follows:

- From 2023 to 2024: -3.3%

- From 2024 to 2025: 0.0%

- From 2025 to 2026: -3.4%

- From 2026 to 2027: -3.6%

- From 2027 to 2028: 0.0%

The Compound Annual Growth Rate (CAGR) for the period from 2023 to 2028 is approximately -2.3% per year.

Future trends to watch for:

- Any shifts in agricultural policies or subsidies affecting sorghum production.

- Changes in consumer preferences or dietary patterns influencing demand.

- Developments in alternative grain markets which could impact sorghum's competitive position.

- Climate factors affecting sorghum crop yield in Thailand and globally.

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