Milk production in Chile has seen a significant decline from 2013 to 2023, decreasing from 2.1602 million metric tons (MMT) to 1.1069 MMT, a drop of nearly 49%. The year-on-year variations show pronounced downward trends, with the most acute decrease occurring in 2019 at -41.15%, followed by smaller yet consistent declines in subsequent years leading to 2023, where production stood at 1.1069 MMT. The average annual decrease (CAGR) over the last five years has been -11.16%, reflecting ongoing reductions each year.
Forecasted data from 2024 onward indicate continued declines, with projections showing production might drop to 0.75676 MMT by 2028. The anticipated five-year CAGR from 2023 to 2028 is -6.03%, with an overall projected five-year reduction of 26.74%.
Trends to watch for the future include potential policy changes in agriculture, climate impacts on dairy farming, technological advancements in dairy production, and shifts in domestic and global demand. Addressing these factors might help mitigate the downward trend in the coming years.
