Bangladesh: Mushroom And Truffle Market 2024

Mushroom And Truffle Market Size in Bangladesh

After two years of growth, the Bangladeshi mushroom and truffle market decreased by -33.4% to $X in 2022. In general, consumption, however, enjoyed a significant increase. Mushroom and truffle consumption peaked at $X in 2021, and then dropped remarkably in the following year.

Mushroom And Truffle Production in Bangladesh

In value terms, mushroom and truffle production totaled $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 902,600% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

The average yield of mushrooms and truffles in Bangladesh stood at less than X kg per ha in 2022, leveling off at the previous year's figure. Overall, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The mushroom and truffle harvested area in Bangladesh amounted to less than X ha in 2022, approximately mirroring 2021 figures. Overall, the harvested area recorded a relatively flat trend pattern.

Mushroom And Truffle Exports

Exports from Bangladesh

In 2022, shipments abroad of mushrooms and truffles increased by 33% to X tons, rising for the fourth year in a row after two years of decline. In general, exports posted a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,323% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, mushroom and truffle exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 773%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Malaysia (X tons) was the main destination for mushroom and truffle exports from Bangladesh, accounting for a 80% share of total exports. Moreover, mushroom and truffle exports to Malaysia exceeded the volume sent to the second major destination, Kuwait (X kg), eightfold. The third position in this ranking was held by the United Arab Emirates (X kg), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+25.2% per year) and the United Arab Emirates (+26.6% per year).

In value terms, the largest markets for mushroom and truffle exported from Bangladesh were Malaysia ($X), Ireland ($X) and Kuwait ($X), together accounting for 97% of total exports. These countries were followed by the United Arab Emirates, which accounted for a further 2.3%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +55.6%, 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

The average mushroom and truffle export price stood at $X per ton in 2022, growing by 52% against the previous year. In general, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 116% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+31.2%), while the prices for the other major destinations experienced more modest paces of growth.

Mushroom And Truffle Imports

Imports into Bangladesh

In 2022, after two years of growth, there was significant decline in overseas purchases of mushrooms and truffles, when their volume decreased by -29.2% to X tons. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 249% against the previous year. Imports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, mushroom and truffle imports fell to $X in 2022. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 331% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Thailand (X tons) and China (X kg) were the main suppliers of mushroom and truffle imports to Bangladesh, together comprising 54% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +114.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and Thailand ($X) appeared to be the largest mushroom and truffle suppliers to Bangladesh, with a combined 44% share of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +123.2%, saw the highest rates of growth with regard to 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 average mushroom and truffle import price amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the import price recorded a noticeable increase. The most prominent rate of growth was recorded in 2015 an increase of 56%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Thailand ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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