China: Asparagus Market 2024

Asparagus Market Size in China

The Chinese asparagus market reached $X in 2022, stabilizing at the previous year. In general, consumption saw a perceptible contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Asparagus Production in China

In value terms, asparagus production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 107% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

The average yield of asparagus in China reached X tons per ha in 2022, approximately equating 2021 figures. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 6% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the average asparagus yield remained 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 asparagus harvested area in China contracted modestly to X ha in 2022, remaining stable against the previous year. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 4.2% against the previous year. The asparagus harvested area peaked at X ha in 2021, and then declined in the following year.

Asparagus Exports

Exports from China

In 2022, overseas shipments of asparagus decreased by -57.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 238%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, asparagus exports plummeted to $X in 2022. In general, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 295%. The exports peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Vietnam (X tons), Brunei Darussalam (X tons) and Russia (X tons) were the main destinations of asparagus exports from China, with a combined 11% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brunei Darussalam (with a CAGR of +85.5%), while the other leaders experienced more modest paces of growth.

In value terms, Brunei Darussalam ($X) emerged as the key foreign market for asparagus exports from China, comprising 17% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 6.8% share of total exports. It was followed by Russia, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brunei Darussalam totaled +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+26.3% per year) and Russia (+1.6% per year).

Export Prices by Country

In 2022, the average asparagus export price amounted to $X per ton, reducing by -75.4% against the previous year. In general, the export price faced a abrupt descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 17%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Vietnam ($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 Malaysia (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Asparagus Imports

Imports into China

In 2022, purchases abroad of asparagus was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when imports increased by 215%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, asparagus imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 264%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X tons) was the main asparagus supplier to China, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest.

In value terms, Brazil ($X) constituted the largest supplier of asparagus to China.

From 2012 to 2022, the average annual growth rate of value from Brazil was relatively modest.

Import Prices by Country

In 2022, the average asparagus import price amounted to $X per ton, waning by -10.2% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asparagus import price increased by +19.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to +2.8% per year.

Source: IndexBox Platform

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