The demand for wheat in Argentina stood at 5.9 million metric tons in 2023. Over the past few years, the wheat demand witnessed modest but steady growth with an average annual growth rate (CAGR) of 1.07% over the last five years. In 2022, wheat demand increased by 1.14% compared to 2021, while in 2023, it furthered its growth by 1.11%. Historically, there was more variability, with significant increases in 2015 (11.27%) and 2017 (8.81%), and notable decreases such as in 2016 (-2.93%) and 2020 (-3.84%). Looking ahead, demand is expected to continue growing, albeit at a slower pace, with a forecasted CAGR of 0.88% over the next five years, amounting to a 4.48% increase by 2028.
Future trends to watch for include:
- Impacts of global climate change on wheat production.
- Technological advancements in agriculture improving productivity.
- Shifts in local and international policies affecting agricultural trade.
- Changes in domestic consumption patterns due to economic factors.
