From 2014 to 2023, the sorghum feed volumes in Asia showed fluctuations, peaking at 7.49 million metric tons in 2015 and down 54%. By 2023, the volume stood at 3.46 million metric tons, showing a consistent downward trend with a negative year-on-year variation of -3.57% over the last two years. The 5-year compounded annual growth rate (CAGR) is -1.73%, reflecting a gradual decline.
Notable year-to-year variations include a surge in 2015 by 41.71% and significant declines in subsequent years, especially -29.31% in 2016 and -12.69% in 2017. From 2018 onward, the year-on-year decline remained relatively steady, ranging between -3.42% to -3.57%.
Future projections highlight a continued decline in sorghum feed volumes in Asia, with an anticipated 5-year CAGR of -3.4%, suggesting a 15.87% reduction by 2028. This points towards a continued diminishing demand for sorghum feed in the region.
Future trends to monitor include:
- Shifts in agricultural practices and feed alternatives.
- Impact of climate change on sorghum production.
- Policy changes and trade agreements affecting import/export dynamics.
