The US sorghum export volume has experienced significant variations over the years. Starting at 7.25 million metric tons in 2014, the volume peaked at 9.8 million metric tons in 2015. However, subsequent years showed a declining trend, with particularly sharp drops in 2016 and 2018. The export volume stood at 3.36 million metric tons in 2023, reflecting a 7% year-on-year decrease with a Compound Annual Growth Rate (CAGR) of -3.65% over the last 5 years.
Key variations include:
- 2015: +35.2%
- 2016: -29.87%
- 2017: -16.68%
- 2018: -29.33%
- 2019: +8.87%, 5-year CAGR: -9.48%
- 2020: -6.11%, 5-year CAGR: -15.84%
- 2021: -6.38%, 5-year CAGR: -10.84%
- 2022: -6.69%, 5-year CAGR: -8.8%
- 2023: -7%, 5-year CAGR: -3.65%
Forecasted data for 2024-2028 indicates a continued decline, with an anticipated 5-year CAGR of -7.96% leading to a total decrease of 33.94% by 2028.
Future trends to watch for include global demand changes influenced by broader agricultural market shifts, potential changes in trade policies, and innovations in sorghum utilization that may affect export volumes.
