The data portrays wheat consumption at the farm gate in India, reaching 109.47 million metric tons in 2023. From 2013 to 2023, wheat consumption has shown an overall positive trend, with some fluctuations. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) stands at 0.43%. The most significant variations include a sharp increase in 2016 and a notable decrease in 2020, potentially attributable to unique economic or climatic events.
Year-on-year changes show a moderate but steady increment from 2022 to 2023 at 1.68%. Forecasts for 2024 onwards predict sustained growth in wheat consumption, with a five-year CAGR of 1.22%, indicating a consistent increase. By 2028, the consumption is expected to rise by approximately 6.27% compared to 2023.
Future trends to watch for:
- Impact of climate change on wheat production and farm yields.
- Government policies on agro-economy, affecting farm-level consumption patterns.
- Population growth and changing dietary preferences influencing wheat demand.
- Technological advancements in agriculture increasing farm output.
