ASEAN: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in ASEAN

The ASEAN carrot and turnip market shrank modestly to $X in 2022, reducing by -2.7% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Carrot And Turnip Production in ASEAN

In value terms, carrot and turnip production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 65%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Indonesia (X tons) remains the largest carrot and turnip producing country in ASEAN, comprising approx. 90% of total volume. Moreover, carrot and turnip production in Indonesia exceeded the figures recorded by the second-largest producer, the Philippines (X tons), ninefold.

In Indonesia, carrot and turnip production increased at an average annual rate of +3.9% over the period from 2012-2022.

In 2022, the average yield of carrots and turnips in ASEAN reduced to X tons per ha, dropping by -7.1% compared with 2021 figures. The yield figure increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. As a result, the yield attained the peak level of X tons per ha, and then fell in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the carrot and turnip harvested area in ASEAN reached X ha, picking up by 2.8% against 2021. The harvested area increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 9.4% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2020 to 2022, the growth of the carrot and turnip harvested area failed to regain momentum.

Carrot And Turnip Exports

Exports in ASEAN

In 2022, overseas shipments of carrots and turnips decreased by -10.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 91%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, carrot and turnip exports fell dramatically to $X in 2022. Over the period under review, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2014 when exports increased by 59% against the previous year. The level of export peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

In 2022, Vietnam (X tons) was the key exporter of carrots and turnips, mixing up 69% of total exports. Malaysia (X tons) held the second position in the ranking, followed by Thailand (X tons). All these countries together held near 28% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carrot and turnip exports from Vietnam stood at +35.0%. At the same time, Thailand (+35.8%), Malaysia (+3.1%) and Singapore (+3.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +35.8% from 2012-2022. From 2012 to 2022, the share of Vietnam and Thailand increased by +51 and +7.9 percentage points, respectively.

In value terms, Vietnam ($X) remains the largest carrot and turnip supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Thailand, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +40.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.5% per year) and Thailand (+31.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, dropping by -6.2% against the previous year. Over the period under review, the export price continues to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when the export price increased by 13%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Carrot And Turnip Imports

Imports in ASEAN

In 2022, after two years of growth, there was decline in supplies from abroad of carrots and turnips, when their volume decreased by -3.4% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 34% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, carrot and turnip imports contracted to $X in 2022. In general, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2018 with an increase of 53% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) was the largest importer of carrots and turnips, constituting 53% of total imports. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Singapore (X tons), together generating a 46% share of total imports.

Thailand was also the fastest-growing in terms of the carrots and turnips imports, with a CAGR of +6.5% from 2012 to 2022. Singapore and Malaysia experienced a relatively flat trend pattern. Vietnam (-7.4%) illustrated a downward trend over the same period. Thailand (+27 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam saw its share reduced by -11.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined 84% share of total imports.

Thailand, with a CAGR of +3.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, falling by -4.7% against the previous year. Overall, the import price showed a mild decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 14%. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform