Asian sorghum market grows despite two years of export declines
Sorghum exports in Asia reached a record high of X tons in 2012, but have since fluctuated. The market's value stood at $X in 2024, up by X% from the previous year. However, exports decreased by X% to X tons in 2024, marking the second consecutive year of decline in the stock market today.
The total area harvested for sorghum in Asia in 2024 was X ha, surging by X% compared to 2023. Despite the decrease in stock market exports, production increased, with the most notable growth coming from Oman, which achieved a CAGR of X% from 2012 to 2024.
Consumption trends were mixed. While the peak consumption level of $X was reached in 2022, it did not regain momentum in 2024, with a X% decrease compared to 2022. However, the total consumption of sorghum in Asia increased at an average annual rate of X% from 2012 to 2024. In 2024, the average yield of sorghum remained stable at X tons per ha.
Despite a decrease in stock market exports and consumption in 2024, the Asian sorghum market has shown overall growth from 2012 to 2024. Production has increased, with Oman leading the way, and the market's value has risen. However, the recent decline in stock market exports and consumption suggests a need for further analysis to understand the market's current dynamics.
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