The re-import of maize, excluding seed corn, to Canada in 2023 stood at a baseline value that transitioned into forecasted figures from 2024 onwards. The data indicates a gentle upward trajectory with values increasing annually from $32.57k in 2024 to $35.46k by 2028. Year-on-year, this represents consistent growth of approximately 2.3% to 2.5%. Calculating the compound annual growth rate (CAGR) for 2024-2028 yields an approximate average annual increase of 2.4%.
Future trends to watch for include:
- Potential impact of trade policies and tariffs on import costs.
- Influence of global maize production levels and prices.
- Shifts in Canadian demand due to domestic crop production changes or industry requirements.
- Environmental factors affecting supply chain resilience and crop yields.
