From 2014 to 2023, the volume of sorghum feed in Mexico exhibited a clear declining trend, plummeting from 8.26 million metric tons to 3.41 million metric tons, representing a year-on-year variation of -6.96% in 2023. Notably, there have been pronounced decreases such as the -35.81% drop in 2015 and a modest uptick in 2016 by 4.07%. The Compound Annual Growth Rate (CAGR) over the last five years stood at -5.96%, reflecting persistent declines.
Forecasting data anticipates a continued decrease, with the 2028 volume projected at 2.08 million metric tons and a forecasted five-year CAGR of -7.86%, implying a total reduction of 33.6%. This suggests a continuing decline in sorghum feed demand.
Future trends to watch for include shifts in agricultural practices, changes in demand for livestock feed, alternative feed sources, and economic factors affecting sorghum production and consumption. Monitoring these factors can provide insights into future market dynamics.
