The forecasted data for Australia's sorghum export from 2024 to 2028 shows a consistent upward trend. In 2023, the sorghum export stood at 1.80 million metric tons. By 2024, it is expected to increase to 1.82 million metric tons, reflecting a year-on-year growth of 1.11%. The trend continues with a 1.10% increase in 2025, a 0.54% increase in 2026, a 1.08% increase in 2027, and a 0.53% increase in 2028. Over the five-year period from 2023 to 2028, the compound annual growth rate (CAGR) is approximately 0.87%.
Future trends to watch for include potential shifts in global demand for sorghum due to changing dietary preferences and the impact of climate change on agricultural outputs. Monitoring trade policies and international relations, which could affect export tariffs and quotas, will also be crucial for understanding market dynamics.
