Based on the data provided, the actual demand for sorghum in the Philippines in 2023 stood at 20.0 thousand metric tons. From 2024 to 2028, the demand is forecasted to increase slightly. The forecasted value for 2024 and 2025 is 21.0 thousand metric tons, while for 2026 to 2028, it is expected to rise to 22.0 thousand metric tons.
- Year-on-year variation for 2024: +5.0%
- Year-on-year variation for 2025: 0.0%
- Year-on-year variation for 2026: +4.8%
- Year-on-year variation for 2027: 0.0%
- Year-on-year variation for 2028: 0.0%
Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 1.9%.
Future trends to watch for include changes in agricultural practices, technological advancements in sorghum cultivation, and shifts in domestic and international trade policies. Monitoring the impact of climate change on crop yields and potential alternative uses of sorghum could also affect future demand.
