The millet feed volume in Australia showed a general decreasing trend from 2014 to 2023, with values dropping from 37.0 thousand metric tons in 2014 to 33.0 in 2023. In 2015, the volume faced a significant decline of 10.81%, followed by smaller fluctuations until it stabilized at 33.0 thousand metric tons from 2020 to 2023. Over the last five years, the compound annual growth rate (CAGR) indicated by -0.6% suggests a slight but consistent yearly decline.
Looking ahead, the forecast predicts continuing stability with millet feed volume remaining at 33.0 thousand metric tons until 2025 but gradually decreasing to 32.0 thousand metric tons by 2026 and remaining at that level through 2028. The projected CAGR over the next five years stands at -0.61%, reflecting a slow, steady decline.
Future trends to watch for include potential shifts in agricultural policy, climate change impacts on crop yields, and changes in the demand for alternative feedstocks. Technological advancements in crop management and potential new uses for millet could also influence future trends.
