Maize consumption at the farm gate in Brazil experienced appreciable growth from 2013 to 2023, reaching 74.71 million metric tons in 2023. Noteworthy trends include a steady annual increase in consumption, with year-on-year variation peaking at 8.17% in 2019. The Compound Annual Growth Rate (CAGR) for the last five years stands at 4.47%, indicating sustained upward movement generally expanding each year.
Key trends over recent years:• From 2013 to 2023, a consistent upward trend was observed.• Significant growth periods include 2019 and 2018 with 8.17% and 4.75% increases respectively.• 2023 witnessed a moderate increase of 2.8% year-on-year.
Future Trends to Watch For:• The forecasted CAGR for the next five years is 1.97%, indicating continued growth but at a slower pace.• Long-term growth over the next five years is expected to be around 10.23%.• Continued expansion in the biofuels market and potential climate impacts could affect future demand and supply dynamics of maize.
