The data for the forecasted maize production levels in Vietnam show a year-on-year decline over the next five years. For 2024, production stands at 4.25 million metric tons, decreasing to 3.92 million metric tons by 2028. The trend indicates a continued reduction in maize production, with an average annual decrease of approximately 2.0% from 2023 onwards. In 2023, maize production was higher than the forecasted values for subsequent years.
Key variations over the last two years and CAGR:
- 2024-2025: A slight decline by 2.12%
- 2025-2026: A further drop by 1.92%
- 2026-2027: A decrease of 2.0%
- 2027-2028: The trend continues with a reduction of 2.0%
- CAGR (2024-2028): The compound annual growth rate is approximately -2.0%
Future trends to watch for include the impact of international and domestic market conditions on production, climate variability, advancements in agricultural technologies, and policy changes affecting agribusiness incentives. Monitoring these factors will be crucial for updating future forecasts and developing strategic responses.
