ASEAN: Currant And Gooseberry Market 2024

Currant And Gooseberry Market Size in ASEAN

The ASEAN currant and gooseberry market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Currant And Gooseberry Production in ASEAN

In value terms, currant and gooseberry production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 7.7% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Myanmar (X tons) constituted the country with the largest volume of currant and gooseberry production, accounting for 90% of total volume. Moreover, currant and gooseberry production in Myanmar exceeded the figures recorded by the second-largest producer, Vietnam (X tons), ninefold.

In Myanmar, currant and gooseberry production remained relatively stable over the period from 2012-2021.

Currant And Gooseberry Exports

Exports in ASEAN

After nine years of growth, shipments abroad of currants and gooseberries decreased by -88.8% to X tons in 2021. Over the period under review, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 49% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then plummeted in the following year.

In value terms, currant and gooseberry exports dropped remarkably to $X in 2021. In general, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 91% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Myanmar (X tons) represented the largest exporter of currants and gooseberries, committing 79% of total exports. It was distantly followed by Singapore (X tons), committing a 17% share of total exports. Vietnam (X kg) took a little share of total exports.

Exports from Myanmar decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, Singapore (+43.1%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +43.1% from 2012-2021. By contrast, Vietnam (-31.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Myanmar and Singapore increased by +30 and +17 percentage points, respectively.

In value terms, Myanmar ($X) remains the largest currant and gooseberry supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was held by Singapore ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Myanmar totaled +16.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+43.0% per year) and Vietnam (-32.1% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, surging by 329% against the previous year. Over the period under review, the export price posted a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+17.5%), while the other leaders experienced a decline in the export price figures.

Currant And Gooseberry Imports

Imports in ASEAN

In 2021, supplies from abroad of currants and gooseberries increased by 4.1% to X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.3% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 35% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, currant and gooseberry imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +1.4% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 32%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

In 2021, Singapore (X tons) represented the major importer of currants and gooseberries, creating 87% of total imports. It was distantly followed by Malaysia (X tons), making up a 12% share of total imports.

Imports into Singapore increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Malaysia (+44.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +44.4% from 2012-2021. Singapore (+11 p.p.) and Malaysia (+11 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported currants and gooseberries in ASEAN, comprising 86% of total imports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +8.7%.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, surging by 17% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Singapore amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.8%).

Source: IndexBox Platform