In 2024, the forecasted domestic consumption of corn in the Philippines stands at 9.43 million metric tons, showing a steady increase from the 2023 figure. The projections continue to rise, with the value reaching 9.91 million metric tons by 2028. This demonstrates a consistent upward trend, reflecting an average Compound Annual Growth Rate (CAGR) of approximately 1.3% over the five years. The year-on-year percentage variations indicate marginal yet positive growth, reinforcing the stability of the domestic corn consumption market.
Future trends to watch for:
- Impact of population growth on corn demand
- Technological advancements in agricultural practices
- Government policies affecting corn production and importation
- Global market fluctuations influencing local prices
