The data for sugar cane processing in Thailand shows a notable shift over the past decade, starting with fluctuations between 2014 and 2023. Value levels fluctuated initially but saw significant increases post-2017, culminating in 126.71 million metric tons in 2023. Noteworthy points include a drastic surge in 2018 (48.46%) and a more stable, yet positive trend from 2019 onwards, with year-on-year growth hovering around 1.67% in 2023.
The year-on-year variation over the last two years indicates a steady but modest growth (~1.7%). Meanwhile, the CAGR over the past five years shows a slight decline at -0.3%, a point to consider in examining longer-term trends. This relatively flat CAGR can partly be attributed to the variability in annual output seen earlier in the decade.
Future projections suggest a steady upward trend in sugar cane processing. The forecast indicates a 6.02% growth rate by 2028 and a 5-year CAGR of 1.18%, suggesting a period of gradual, consistent expansion.
Future trends to watch for include:
- Technological advancements in processing that could improve yields.
- Government policies affecting agriculture and trade.
- Environmental factors impacting crop health and yields.
- Market demand shifts, both domestically and internationally.