The forecasted data for Thailand’s soybeans production from 2024 to 2028 shows a consistent year-on-year decline. Starting at 36.0 thousand metric tons in 2024, production is expected to decrease to 35.0 thousand metric tons in 2025, then further to 33.0, 32.0, and finally 31.0 thousand metric tons by 2028. The observed trend is a continual drop, reflecting a decreasing average annual growth rate (CAGR) over this period.
In 2023, actual production stood at 37.0 thousand metric tons. Comparing 2023 to 2024, there is a 2.70% drop in production. The subsequent year-on-year decline from 2024 to 2028 shows the consistent reduction in output, with average annual changes encapsulated by the CAGR which depicts a negative trend in soybean production.
Future trends to watch for include potential influences such as climate change, advancements in agricultural technology, market demand shifts, and government policy changes which could further impact production levels. Monitoring these factors will be crucial for strategic planning and forecasting in the agriculture sector.
