Wheat production at the farm gate in the US has been fluctuating over the last decade, with notable declines from 2013 to 2017, followed by more stable and incremental growth. In 2023, the value stood at 9.97 billion US dollars, reflecting a year-on-year increase of 2.87%, continuing the positive trend seen over the past few years. Since 2019, the Compound Annual Growth Rate (CAGR) has improved to 2.01%, with steady annual growth projections reaching 11.32 billion US dollars by 2028.
Future trends to watch for:
- Technological advancements in agricultural practices enhancing yield and quality.- Climate change impacts on wheat production and shifts in suitable growing regions.- Market demand dynamics driven by dietary trends and biofuel production.- Policy changes and trade agreements influencing export opportunities and competitiveness.
