From 2013 to 2023, Thailand's cereals production exhibited notable fluctuations, starting from a high of 42.04 million metric tons in 2013 down to 33.704 million metric tons in 2023. The year-on-year trends reveal evident volatility, with significant declines in 2014 and 2015 but also periods of recovery, such as in 2016 and 2021. Over this period, the overall Compound Annual Growth Rate (CAGR) was -2.32%, showcasing a general decline in production.
Future trends from 2024 to 2028 indicate a continued but gradual decrease in production volumes. The forecasted CAGR over the next five years stands at -0.54%, suggesting weaker production levels ahead. By 2028, cereals production is expected to reach 32.573 million metric tons.
Key points to monitor in Thailand's cereals production include:
- Climatic changes and their impact on crop yields.
- Government policies on agricultural subsidies and support.
- Technological advancements in farming practices.
- Global market demand for cereals and Thailand's export capabilities.
