Asia: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in Asia

After two years of growth, the Asian carrot and turnip market decreased by -0.2% to $X in 2022. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Carrot And Turnip Production in Asia

In value terms, carrot and turnip production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 13% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

The country with the largest volume of carrot and turnip production was China (X tons), comprising approx. 68% of total volume. Moreover, carrot and turnip production in China exceeded the figures recorded by the second-largest producer, Uzbekistan (X tons), sixfold. The third position in this ranking was taken by Indonesia (X tons), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Uzbekistan (+6.8% per year) and Indonesia (+3.9% per year).

In 2022, the average carrot and turnip yield in Asia shrank slightly to X tons per ha, remaining constant against 2021. The yield figure increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 13%. Over the period under review, the carrot and turnip yield attained the maximum level at X tons per ha in 2021, and then declined 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.

The carrot and turnip harvested area amounted to X ha in 2022, stabilizing at the previous year's figure. Overall, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 8.7%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Carrot And Turnip Exports

Exports in Asia

In 2022, after two years of decline, there was growth in shipments abroad of carrots and turnips, when their volume increased by 3.1% to X tons. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when exports increased by 10% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, carrot and turnip exports soared to $X in 2022. The total export value increased at an average annual rate of +5.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 20% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 68% of total exports in 2022. Turkey (X tons) held the second position in the ranking, followed by Uzbekistan (X tons) and Israel (X tons). All these countries together held approx. 22% share of total exports. Vietnam (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +1.9% from 2012 to 2022. At the same time, Vietnam (+35.0%), Uzbekistan (+21.3%) and Turkey (+6.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +35.0% from 2012-2022. By contrast, Israel (-5.2%) illustrated a downward trend over the same period. While the share of Uzbekistan (+7.1 p.p.), Turkey (+2.8 p.p.) and Vietnam (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carrot and turnip supplier in Asia, comprising 81% of total exports. The second position in the ranking was taken by Israel ($X), with a 6.7% share of total exports. It was followed by Turkey, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +6.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (-3.6% per year) and Turkey (+7.5% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2021 an increase of 23%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

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 China ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the other leaders experienced more modest paces of growth.

Carrot And Turnip Imports

Imports in Asia

In 2022, the amount of carrots and turnips imported in Asia was estimated at X tons, approximately mirroring the previous year. Over the period under review, imports recorded a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of 18%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, carrot and turnip imports stood at $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 31%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons), followed by South Korea (X tons), the United Arab Emirates (X tons), Japan (X tons), Malaysia (X tons), Saudi Arabia (X tons) and Kazakhstan (X tons) were the key importers of carrots and turnips, together making up 66% of total imports. The following importers - Kyrgyzstan (X tons), Vietnam (X tons), Singapore (X tons), Qatar (X tons), Iraq (X tons) and Kuwait (X tons) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +123.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), South Korea ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 37% share of total imports. Malaysia, Japan, Saudi Arabia, Vietnam, Qatar, Singapore, Kuwait, Kazakhstan, Iraq and Kyrgyzstan lagged somewhat behind, together comprising a further 48%.

Kyrgyzstan, with a CAGR of +115.9%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 11%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Qatar ($X per ton), while Kyrgyzstan ($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 more modest paces of growth.

Source: IndexBox Platform

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