The demand for sorghum in China has shown significant fluctuations from 2014 to 2023 in volume measured in million metric tons. In 2023, the demand stood at 5.82 million metric tons, reflecting a year-on-year decrease of 3.44%, and having a negative Compound Annual Growth Rate (CAGR) of 1.18% over the last five years. Notable annual variations included a peak in 2015 with a sharp year-on-year increase, followed by multiple years of decline. The period from 2018 to 2023 exhibited a generally downward trend with occasional minor upticks.
The forecasted demand for sorghum from 2024 to 2028 is projected to continue its decline, with a forecasted 5-year CAGR of -3.28%, resulting in an approximate 15.34% reduction over this period.
Future trends to watch for include potential market influences such as changes in domestic agricultural policies, fluctuations in import tariffs, shifts in consumer preferences towards alternative grains, and global trade dynamics that could impact sorghum demand in China. Monitoring these factors will be crucial for predicting and understanding further changes in the market.
