The forecast for direct on-farm energy consumption in the Philippines shows a steady increase from 2024 to 2028, starting at 345.53 thousand tonnes of oil equivalent in 2024 and rising to 352.77 thousand tonnes by 2028. As of 2023, the value stood at 343.69 thousand tonnes of oil equivalent.
Year-on-year variations are as follows:
- 2024: +0.54% from 2023
- 2025: +0.62% from 2024
- 2026: +0.55% from 2025
- 2027: +0.48% from 2026
- 2028: +0.43% from 2027
The compounded annual growth rate (CAGR) for the forecast period from 2024 to 2028 is approximately 0.52%, indicating a gradual increase in energy consumption on farms over these five years.
Future trends to watch for include advancements in energy-efficient farming technologies, potential shifts in agricultural policies affecting energy usage, and the influence of global energy prices on local farm energy costs.
