In 2023, cereal production in Chile stood at 2.7215 million metric tons, reflecting a slight recovery with a year-on-year increase of 5.14% from 2022. However, the five-year CAGR up to 2023 is -5.76%, indicating a general decline in production over this period. Notably, production experienced significant fluctuations, including a sharp drop in 2020 followed by a partial rebound in 2021.
Looking ahead, the forecast indicates a steady yet modest increase in cereal production, with expected growth to 2.8409 million metric tons by 2028. The forecasted five-year CAGR from 2024 to 2028 is 0.68%, suggesting a stabilization in production levels.
Future trends to watch for include:
- Potential impacts of climate change on crop yields.
- Changes in agricultural practices and technology adoption.
- Shifts in domestic and international demand for cereals.
