In 2023, Chile's centrifugal raw sugar production stood at 232.29 thousand metric tons. The production has shown a clear downward trend since 2013, where it was at 303.0 thousand metric tons. The most significant yearly decreases occurred in 2016 and 2020, with year-on-year declines of -14.29% and -6.94% respectively. Notably, 2017 experienced a positive anomaly with a 20.27% increase. Over the last five years, the CAGR has been -2.38%, indicating an average annual decline. Looking forward, the production is forecasted to continue its decline, with a five-year forecast CAGR of -1.83% and a total decline of 8.82% by 2028.
Future trends to watch for include:
- Impact of climate change on agricultural yields.
- Fluctuations in global sugar prices affecting local production incentives.
- Possible shifts towards more sustainable and profitable agricultural products.
