Analyzing forecasted wheat demand in the Philippines from 2024 to 2028 reveals a steady year-on-year growth. The demand in 2023 was 5.30 million metric tons. The year-on-year variations are as follows:
- From 2023 to 2024: 1.51%
- From 2024 to 2025: 1.67%
- From 2025 to 2026: 1.65%
- From 2026 to 2027: 1.62%
- From 2027 to 2028: 1.42%
The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 1.57% per year.
Future trends to watch for include the impact of climate change on wheat production, potential shifts in dietary habits, and economic factors influencing wheat importation policies. Monitoring these elements will be crucial for accurately forecasting future demand.
