Analyzing the data for molasses production in Argentina from 2013 to 2023, it is observed that production has been on a declining trend. In 2023, the production stood at 543.41 thousand metric tons. From 2013 to 2023, annual decreases have generally been observed, except for a brief uptick in 2021. This downward trend is reflected in the year-on-year variations as well as in the compound annual growth rate (CAGR). The last 5-year CAGR up to 2023 was -1.12%, indicating an average yearly decline.
Forecasts from 2024 to 2028 suggest a continual decline in production, projecting a 5-year CAGR of -1.11% and an overall decrease of 5.44%. These figures confirm that the downward trend is expected to persist over the next few years.
Trends to watch for:
- Potential impacts of climate change and environmental factors on sugarcane yields.
- The influence of local and global market demands for sugar and its by-products.
- Technological advancements in agricultural practices that could improve yields.
- Government policies and subsidies affecting sugarcane farming and production.
