ASEAN: Dry Vegetable Market 2024

Dry Vegetable Market Size in ASEAN

The ASEAN dry vegetable market fell modestly to $X in 2022, which is down by -3.4% against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Dry Vegetable Production in ASEAN

In value terms, dry vegetable production fell to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +9.3% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 34%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Dry Vegetable Exports

Exports in ASEAN

Dry vegetable exports declined notably to X tons in 2022, shrinking by -35.8% on the previous year's figure. Overall, exports, however, saw modest growth. The most prominent rate of growth was recorded in 2013 when exports increased by 168% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, dry vegetable exports dropped sharply to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -33.7% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 147%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Myanmar (X tons), Indonesia (X tons), Thailand (X tons) and Vietnam (X tons) represented the key exporter of dry vegetables in ASEAN, creating 82% of total export. It was distantly followed by Malaysia (X tons), constituting a 10% share of total exports. The Philippines (X tons) and Singapore (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +20.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest dry vegetable supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Indonesia ($X), together comprising 70% of total exports. Myanmar, Malaysia, the Philippines and Singapore lagged somewhat behind, together accounting for a further 27%.

In terms of the main exporting countries, Myanmar, with a CAGR of +14.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 8.7% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dry vegetable export price decreased by -5.7% against 2020 indices. The growth pace was the most rapid in 2017 when the export price increased by 79%. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 the Philippines ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.1%), while the other leaders experienced more modest paces of growth.

Dry Vegetable Imports

Imports in ASEAN

In 2022, supplies from abroad of dry vegetables decreased by -8.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, dry vegetable imports reached $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.0% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 56%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Malaysia (X tons), the Philippines (X tons), Thailand (X tons), Vietnam (X tons) and Singapore (X tons) represented the major importers of dry vegetables, together making up 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of +8.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dry vegetable importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and the Philippines ($X), together comprising 67% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +14.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, increasing by 9.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2013 an increase of 33%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+12.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform