In 2023, the cereal production in Malaysia stood at 2.4627 Million Metric Tons. The production over the previous two years saw a variation of 1.45% in 2023 and a decline of 3.53% in 2022. The last five years show a compound annual growth rate (CAGR) of -1.88%, indicating a declining trend. From 2024 onwards, forecasted data predicts a gradual increase with a forecasted five-year CAGR of 0.51% and an overall growth rate of 2.59% by 2028. The long-term view from 2013 to 2023 highlights significant volatility with periods of both growth and decline, reflecting external factors influencing production.
Future trends to watch for:
- Technological advancements in farming techniques and their potential impact on production.
- Government policies and support for the agriculture sector.
- Climate change and its effects on agricultural yield.
- Global market demand and supply dynamics.