Forecast: Wheat Demand in China

From 2014 to 2023, China's wheat demand shows a consistent growth trend in terms of volume, rising from 118.68 million metric tons in 2014 to 129.37 million metric tons in 2023. Notable year-on-year variations include peaks in 2017 (3.06%) and 2021 (5.81%), while notable declines were in 2019 (-0.4%) and 2020 (-4.49%). The compound annual growth rate (CAGR) stands at 0.33% over the last five years leading into 2023. Forecasted values for 2024 to 2028 project a moderate increase, with a CAGR of 0.4%, forecasting a wheat demand of 132.71 million metric tons in 2028.

Future trends to watch for include:

  • Potential impacts of climate change on wheat production and supply chain disruptions.
  • Changes in dietary habits and their influence on wheat demand.
  • Government policies promoting self-sufficiency in grain production.
  • Technological advancements in agriculture improving wheat yields.

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