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Thailand - Asparagus - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Thailand - Asparagus - Market Analysis, Forecast, Size, Trends and Insights

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Sep 6, 2023

Thailand's Asparagus Sees Steep Decline, Price Drops to $4,009/Ton

Thailand Asparagus Export Price in July 2023

In July 2023, the asparagus price stood at $4,009 per ton (FOB, Thailand), which is down by -4.2% against the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 14% month-to-month. As a result, the export price reached the peak level of $5,132 per ton. From December 2022 to July 2023, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($8,165 per ton), while the average price for exports to Singapore ($843 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Thailand Asparagus Export Prices By Country (USD Per Ton)
COUNTRYExport Price of Asparagus in Thailand (USD per ton)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
South Korea8,2428,5728,2219,06011,05610,30910,5569,6868,8658,3728,4118,1218,165
United Arab Emirates10,39011,70510,7209,91611,5899,8809,8949,3649,2926,9377,5157,7207,404
Qatar7,7667,5409,3347,5748,5877,8118,7568,0407,7226,9367,5997,2016,865
Saudi Arabia8,3479,3018,1387,72010,1658,8879,4317,5887,2076,4286,6587,2816,856
India6,5096,6167,2917,8818,1867,0156,6906,7045,7525,2005,2995,1824,781
Taiwan (Chinese)8338518148009471,0561,0921,4952,2762,2852,3051,9901,914
Singapore6676948261,3548361,2291,2781,043944925897821843
Average3,8204,3304,3404,5175,1324,9194,9765,0764,4404,4174,8084,1844,009

Thailand Asparagus Exports

In July 2023, shipments abroad of asparagus increased by 14% to 166 tons, rising for the second consecutive month after two months of decline. Overall, exports posted a moderate expansion. The growth pace was the most rapid in December 2022 when exports increased by 79% month-to-month. Over the period under review, the exports hit record highs in July 2023.

In value terms, asparagus exports totaled $665K (IndexBox estimates) in July 2023. Over the period under review, total exports indicated measured growth from July 2022 to July 2023: its value increased at an average monthly rate of +2.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, exports decreased by -2.9% against March 2023 indices. The most prominent rate of growth was recorded in December 2022 when exports increased by 71% against the previous month.

Thailand Asparagus Exports by Country

Taiwan (Chinese) (84 tons) was the main destination for asparagus exports from Thailand, accounting for a 50% share of total exports. Moreover, asparagus exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, South Korea (15 tons), fivefold. The third position in this ranking was taken by Singapore (13 tons), with a 7.9% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume to Taiwan (Chinese) amounted to +1.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: South Korea (-0.9% per month) and Singapore (+5.9% per month).

In value terms, the largest markets for asparagus exported from Thailand were Taiwan (Chinese) ($160K), South Korea ($126K) and Saudi Arabia ($73K), together accounting for 54% of total exports.

Saudi Arabia, with a CAGR of +16.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the asparagus market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 367 - Asparagus

Country coverage:

  • Thailand

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Thailand
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, HARVESTED AREA AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Area Harvested, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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