Asia-Pacific: Dry Bean Market 2024

Dry Bean Market Size in Asia-Pacific

In 2022, the Asia-Pacific dry bean market increased by 4.9% to $X, rising for the third consecutive year after three years of decline. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Dry Bean Production in Asia-Pacific

In value terms, dry bean production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 43% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

The country with the largest volume of dry bean production was India (X tons), accounting for 51% of total volume. Moreover, dry bean production in India exceeded the figures recorded by the second-largest producer, Myanmar (X tons), twofold. The third position in this ranking was held by China (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in India stood at +4.4%. In the other countries, the average annual rates were as follows: Myanmar (-4.3% per year) and China (+1.5% per year).

The average dry bean yield stood at X kg per ha in 2022, flattening at the previous year. Over the period under review, the yield, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2019 when the yield increased by 4%. The level of yield peaked at X kg per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The dry bean harvested area shrank slightly to X ha in 2022, with a decrease of -3.6% against the previous year's figure. The harvested area increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. Over the period under review, the harvested area dedicated to dry bean production reached the peak figure at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

Dry Bean Exports

Exports in Asia-Pacific

In 2022, after two years of growth, there was decline in shipments abroad of beans (dry), when their volume decreased by -0.9% to X tons. Overall, exports saw a slight contraction. The most prominent rate of growth was recorded in 2016 with an increase of 23%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, dry bean exports reduced to $X in 2022. In general, exports saw a pronounced contraction. The pace of growth was the most pronounced in 2020 when exports increased by 23% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar dominates exports structure, reaching X tons, which was approx. 78% of total exports in 2022. China (X tons) ranks second in terms of the total exports with a 7.7% share, followed by Australia (5.9%). The following exporters - India (X tons) and Thailand (X tons) - each accounted for a 6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dry bean exports from Myanmar stood at +2.0%. At the same time, India (+41.3%) and Australia (+1.9%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +41.3% from 2012-2022. Thailand experienced a relatively flat trend pattern. By contrast, China (-16.6%) illustrated a downward trend over the same period. Myanmar (+26 p.p.), India (+3.4 p.p.) and Australia (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -31.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Myanmar ($X) remains the largest dry bean supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was held by China ($X), with a 17% share of total exports. It was followed by Australia, with a 5.5% share.

In Myanmar, dry bean exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-11.1% per year) and Australia (+2.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, shrinking by -7.2% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 15%. The level of export peaked at $X per ton in 2015; however, from 2016 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 China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the other leaders experienced more modest paces of growth.

Dry Bean Imports

Imports in Asia-Pacific

In 2022, the amount of beans (dry) imported in Asia-Pacific rose rapidly to X tons, picking up by 10% compared with 2021 figures. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +58.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 31%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, dry bean imports expanded remarkably to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +82.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

India (X tons) and China (X tons) were the largest importers of beans (dry) in 2022, reaching approx. 34% and 33% of total imports, respectively. Pakistan (X tons) took the next position in the ranking, followed by Japan (X tons) and Vietnam (X tons). All these countries together took approx. 17% share of total imports. The following importers - Indonesia (X tons), South Korea (X tons) and Thailand (X tons) - together made up 6.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Pakistan ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 70% of total imports.

Among the main importing countries, China, with a CAGR of +36.6%, 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 Asia-Pacific amounted to $X per ton, reducing by -3.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2014 an increase of 16%. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :