The maize production at the farm gate in Chile has shown significant volatility over the past decade. Starting at a peak value of $351.03 million in 2013, there has been an overall downward trend, hitting a low of $113.73 million in 2020. Subsequently, the market exhibited slight recovery, with a year-on-year increase of 7.87% in 2023, placing the maize production value at $188.12 million. The compound annual growth rate (CAGR) over the last five years stands at -3.04%. Projecting into the future, forecasts indicate a modest growth to $191.81 million by 2028, with a forecasted five-year CAGR of 0.3%.
Future trends to watch for:
• Impact of climate change on maize yields and farm gate prices.• Technological advancements in agricultural practices and their uptake by Chilean farmers.• Government policies and subsidies impacting maize production.• Global maize market trends and their influence on local production.
