The sorghum seed market in Argentina saw a significant downward trend from 2014 to 2023, with the volume decreasing from 14.0 to 4.0 Thousand Metric Tons. A notable drop occurred between 2017 and 2018, with a year-on-year decline of 40%. The trend continued with minor fluctuations, but the overarching pattern was a consistent decline. By 2023, the market reduced by 20% compared to the previous year. Over the last five years (2019-2023), the compound annual growth rate (CAGR) averaged -7.79%, highlighting a persistent contraction.
Forecasts for 2024 and onward predict a continuous shrinkage, reaching a volume of just 1.0 Thousand Metric Ton by 2028. This translates to a forecasted 5-year CAGR of -19.73% and a total reduction of 66.67% from 2023 levels.
Future trends to watch for include potential shifts in agricultural policies, climate change impacts, and technological advancements in seed production that could either mitigate or exacerbate the current decline in sorghum seed volume in Argentina.
