Groundnuts production in Vietnam stood at 458.0 thousand metric tons in 2023. Over the last decade, production has shown slight fluctuations, especially in 2016 with a notable drop of -5.95% followed by a surge of 7.73% in 2017. From 2020 to 2021, production saw a recovery from a -5% dip to a 5.49% rise. Year-on-year, 2023 observed a marginal growth of 0.22%. The five-year compound annual growth rate (CAGR) up to 2023 was at 0.044%, whereas forecasts for the next five years suggest a CAGR of 0.08% with an overall growth rate of 0.41% by 2028.
Future trends to watch for include potential climatic impacts on yield, advancements in agricultural practices, and policy changes affecting production incentives which could significantly influence these projected growth rates.
