Asia: Carob Market 2024

Carob Market Size in Asia

The Asian carob market declined sharply to $X in 2021, with a decrease of -23.1% against the previous year. Over the period under review, consumption saw a perceptible decrease. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Carob Production in Asia

In value terms, carob production amounted to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Over the period under review, production hit record highs at $X in 2019; afterwards, it flattened through to 2021.

The countries with the highest volumes of production in 2021 were Turkey (X tons), Cyprus (X tons) and Lebanon (X tons), together comprising 94% of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Lebanon (with a CAGR of +6.6%), while production for the other leaders experienced mixed trends in the production figures.

The average carob yield contracted slightly to X tons per ha in 2021, shrinking by -2% on 2020. The yield figure increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 12% against the previous year. The level of yield peaked at X tons per ha in 2020, and then contracted modestly 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 2021, the total area harvested in terms of carob production in Asia dropped modestly to X ha, approximately mirroring the previous year's figure. Over the period under review, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the harvested area increased by 8.9% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area stood at a somewhat lower figure.

Carob Exports

Exports in Asia

Carob exports soared to X tons in 2021, jumping by 29% on the previous year's figure. The total export volume increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, carob exports surged to $X in 2021. The total export value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports attained the maximum at $X in 2019; afterwards, it flattened through to 2021.

Exports by Country

Cyprus represented the major exporting country with an export of about X tons, which recorded 54% of total exports. It was distantly followed by Lebanon (X tons), Turkey (X tons) and Israel (X tons), together committing a 41% share of total exports. The following exporters - Jordan (X tons) and Syrian Arab Republic (X tons) - each recorded a 4.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to carob exports from Cyprus stood at -2.4%. At the same time, Syrian Arab Republic (+348.4%), Jordan (+83.0%), Israel (+58.3%) and Lebanon (+37.5%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing exporter exported in Asia, with a CAGR of +348.4% from 2012-2021. By contrast, Turkey (-2.5%) illustrated a downward trend over the same period. Lebanon (+19 p.p.), Israel (+8.8 p.p.), Jordan (+2.2 p.p.) and Syrian Arab Republic (+2 p.p.) significantly strengthened its position in terms of the total exports, while Turkey and Cyprus saw its share reduced by -4.6% and -21% from 2012 to 2021, respectively.

In value terms, the largest carob supplying countries in Asia were Cyprus ($X), Lebanon ($X) and Turkey ($X), with a combined 94% share of total exports. These countries were followed by Syrian Arab Republic, Israel and Jordan, which together accounted for a further 3.6%.

In terms of the main exporting countries, Syrian Arab Republic, with a CAGR of +286.2%, saw the highest growth rate of 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

The export price in Asia stood at $X per ton in 2021, increasing by 3.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2018 when the export price increased by 31% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+11.8%), while the other leaders experienced more modest paces of growth.

Carob Imports

Imports in Asia

In 2021, purchases abroad of carob decreased by -60.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 when imports increased by 27% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, carob imports declined notably to $X in 2021. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 37%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey represented the key importer of carob in Asia, with the volume of imports amounting to X tons, which was near 49% of total imports in 2021. It was distantly followed by Thailand (X tons), Myanmar (X tons), Palestine (X tons) and Israel (X tons), together making up a 34% share of total imports. Cyprus (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the carob imports, with a CAGR of +26.6% from 2012 to 2021. At the same time, Cyprus (+23.7%), Israel (+14.9%), Palestine (+14.6%) and Myanmar (+4.2%) displayed positive paces of growth. By contrast, Indonesia (-15.5%) and Thailand (-22.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Myanmar, Palestine, Israel and Cyprus increased by +47, +7.6, +6.3, +4.2 and +2.9 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported carob in Asia, comprising 41% of total imports. The second position in the ranking was taken by Myanmar ($X), with a 14% share of total imports. It was followed by Thailand, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +28.7%. In the other countries, the average annual rates were as follows: Myanmar (+17.8% per year) and Thailand (-22.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 14% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carob import price decreased by -17.2% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of 44%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Palestine ($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 (+13.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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