The actual cereals production in Chile for the year 2023 stood at 3.3502 million metric tons. Over the past two years (2021-2023), this reflects a slight decline with year-on-year variations of -0.39% and -0.38% respectively. The compound annual growth rate (CAGR) over the last five years (2018-2023) shows an average decline of 1.75% per year.
Looking ahead, the forecast indicates a steady decline in cereals production, with a forecasted 5-year CAGR of -0.32% and an overall growth rate of -1.59% by 2028. This suggests an ongoing downward trend in cereal production in Chile, driven by factors that may include climate change, soil fertility, and economic pressures on the agricultural sector.
Future trends to watch for include the impact of technological advancements in agriculture, potential shifts in government policies towards crop production, and market demand fluctuations. Sustainable farming practices and innovations could play critical roles in stabilizing or reversing the current declining trend in cereals production in Chile.
