The forecasted data for spices production in Thailand shows a steady decline from 392.32 thousand metric tons in 2024 to 371.0 thousand metric tons in 2028. In 2023, the actual production stood at 398.72 thousand metric tons. Year-on-year variations indicate a consistent decrease: -1.40% from 2024 to 2025, -1.39% from 2025 to 2026, -1.38% from 2026 to 2027, and -1.37% from 2027 to 2028. The compound annual growth rate (CAGR) over the forecast period 2024-2028 is approximately -1.39%, indicating a persistent downward trend in production.
Future trends to watch for include potential impacts of climate change on agricultural yields, shifts in global demand for spices, and changes in domestic agricultural policies. These factors may influence the production volumes and should be closely monitored for any significant deviations from the current forecasted trend.
