Maize consumption at the farm gate in Argentina saw a significant rise from 12.7 million metric tons in 2013 to 26.24 million metric tons in 2023. The year-on-year growth varied, peaking sharply in 2017 with a 66.89% increase, while facing declines like in 2016 (-10.28%). By 2023, maize consumption showed a 4.54% increase compared to the previous year, stabilizing around 26.24 million metric tons. The Compound Annual Growth Rate (CAGR) over the past five years stood at 4.36%, indicating a consistent upward trend.
- The year-on-year variation between 2022 and 2023 is 4.54%.
- The five-year CAGR up to 2023 is 4.36%.
- The forecasted five-year growth rate from 2024 to 2028 is 16.07%, with a forecasted five-year CAGR of 3.03%.
Looking forward, further growth in maize consumption can be anticipated, driven by advancements in agricultural practices, increased demand for biofuels, and expanding feed markets. Monitoring policy changes, climate impacts, and technological innovations will be vital to understanding and adapting to future market dynamics.
