The wheat market size volume in Argentina stood at 4.63 million metric tons in 2023, displaying a marginal year-on-year increase of 0.5%. Over the last five years, the Compound Annual Growth Rate (CAGR) was 0.5%, indicating steady but slow growth. From 2014 to 2023, the market exhibited an overall stable upward trend with brief dips, such as in 2020, which saw a 4.48% reduction from the previous year. Notable growth spurts occurred in 2015 and 2021, with increases of 6% and 5.82%, respectively. The forecast for 2028 predicts a market size volume of 4.75 million metric tons, with a forecasted five-year CAGR of 0.41%, equating to a 2.07% growth rate over this period.
Future trends to watch for:
- Technological advancements in farming and agricultural practices could drive productivity gains.
- Changes in trade policies and international market dynamics will likely influence export opportunities and domestic market conditions.
- Climate change impacts could significantly affect crop yields and market supply stability.
- Developments in alternative crops and plant-based products might shift demand patterns in the agricultural sector.
