The demand for sorghum in Mexico has shown a steady decline from 2014 to 2023. In 2023, the volume stood at 3.65 million metric tons, decreasing by 6.61% from the previous year. The compound annual growth rate (CAGR) over the last five years has been -5.7%. Key historical variations include significant year-on-year reductions in 2015 (-34.92%) and a more moderate decrease in 2019 (-3.68%). Notably, 2022 also saw a decline of 6.31%.
Looking forward, forecasts from 2024 to 2028 suggest a continued downward trajectory, with a projected 5-year CAGR of -7.32%, resulting in a 31.62% decrease by 2028.
Future trends to watch for include shifts in agricultural policies, climate change impacts, and potential technological advancements in crop yields.
