Wheat production at farm gate in Mexico experienced notable fluctuations over the past decade. Starting from 720.9 million Euros in 2013, the value rose and fell, hitting a low of 491.98 million Euros in 2020, before recovering in subsequent years to reach 594.07 million Euros in 2023. The year 2023 represents the actual value of 594.07 million Euros. The year-on-year variation for 2022 to 2023 was 3.47%, showing a modest increase. The compound annual growth rate (CAGR) over the last 5 years was 2.3%, indicating a slightly upward trend. Forecasts from 2024 to 2028 project minimal change, with values stabilizing around 594 million Euros and a forecast 5-year CAGR close to -0.01%, suggesting near-flat growth in the coming years.
Future trends to watch for include potential impacts of climate change on wheat production, shifts in agricultural policy, technological advancements in farming, and changes in global market demand. These factors could significantly influence future production levels and economic outcomes for wheat farming in Mexico.
