Maize production at farm gate in Indonesia was valued at $9.21 billion in 2023. Over the years, from 2013 to 2023, the sector has experienced a mix of growth and decline. The highest recorded value was in 2018 at $9.57 billion, followed by a dip in 2019 and 2020. However, recent years show a recovery with 2022 and 2023 witnessing growth at rates of 9.45% and 6.95% respectively. The latest five-year CAGR up to 2023 records an average annual decline of 0.76%, suggesting some volatility in production values.
Future trends to watch for:
- The forecasted five-year period from 2024 suggests a healthier average annual growth (CAGR) of 2.05%, with projections reaching $10.48 billion by 2028. This implies a total growth rate of 10.68% over the next five years.
- Potential developments in agricultural technology, government policies, and climate change could significantly influence future maize production levels.
