In 2023, the wheat supply in Norway stood at a baseline reference point that is crucial for evaluating future forecasts. From 2024 to 2028, the forecasted wheat supply ranges from 967 to 988 thousand metric tons, showing a consistent annual increase. This signifies a yearly growth in wheat supply, projected to increase by approximately 5 thousand metric tons each year, reflecting a steady and predictable upward trend.
Year-on-year, the following variations are observed:
- 2024 to 2025: Approx. +0.52%
- 2025 to 2026: Approx. +0.51%
- 2026 to 2027: Approx. +0.61%
- 2027 to 2028: Approx. +0.50%
The compound annual growth rate (CAGR) over the five-year forecast period (2024-2028) is modest, indicating a stable growth outlook.
Future trends to watch for include potential impacts from climate change, policy shifts in agricultural subsidies, technological advancements in farming practices, and variations in global wheat demand that may significantly influence supply levels. Monitoring these factors can provide valuable insights into the stability and sustainability of Norway's wheat supply in the longer term.
