The forecasted data for wheat domestic consumption in Singapore indicates a steady increase from 2024 to 2028. The consumption is expected to grow from 342.0 thousand metric tons in 2024 to 353.0 thousand metric tons by 2028. Comparing this with the actual consumption in 2023, we notice a gradual upward trend.
Year-on-year variation analysis reveals the following trends:
- 2024 to 2025: 0.88% increase
- 2025 to 2026: 0.87% increase
- 2026 to 2027: 0.57% increase
- 2027 to 2028: 0.86% increase
The Compound Annual Growth Rate (CAGR) over the last five years stands at approximately 0.79%, showing a consistent, if moderate, upward trend in wheat consumption.
Future trends to watch for include potential changes in wheat consumption patterns due to shifts in dietary preferences, economic factors, and possible advancements in agricultural technology affecting wheat supply. Monitoring these factors will be crucial for accurate future forecasting.
