China: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in China

In 2022, after two years of growth, there was decline in the Chinese carrot and turnip market, when its value decreased by -0.3% to $X. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Carrot and turnip consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Carrot And Turnip Production in China

In value terms, carrot and turnip production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the production volume increased by 20%. Carrot and turnip production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The average yield of carrots and turnips in China declined slightly to X tons per ha in 2022, remaining constant against the year before. The yield figure increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 18%. The carrot and turnip yield peaked at X tons per ha in 2021, and then reduced 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 2022, approx. X ha of carrots and turnips were harvested in China; standing approx. at the previous year. Overall, the harvested area, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 14% against the previous year. Over the period under review, the harvested area dedicated to carrot and turnip production reached the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Carrot And Turnip Exports

Exports from China

In 2022, overseas shipments of carrots and turnips were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, carrot and turnip exports soared to $X in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), Thailand (X tons) and South Korea (X tons) were the main destinations of carrot and turnip exports from China, together comprising 48% 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 Vietnam (with a CAGR of +8.4%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for carrots and turnips exports from China, comprising 20% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.3% share of total exports. It was followed by South Korea, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam amounted to +14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+2.4% per year) and South Korea (-2.1% per year).

Export Prices by Country

The average carrot and turnip export price stood at $X per ton in 2022, surging by 13% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 32%. Over the period under review, the average export prices attained the maximum 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 Russia ($X per ton), while the average price for exports to Thailand ($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 Hong Kong SAR (+26.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carrot And Turnip Imports

Imports into China

In 2022, approx. X tons of carrots and turnips were imported into China; reducing by -42% against 2021. Over the period under review, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 524%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, carrot and turnip imports fell sharply to $X in 2022. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 261%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Hong Kong SAR (X tons) was the main carrot and turnip supplier to China, with a 97% share of total imports. It was followed by Brazil (X tons), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hong Kong SAR amounted to -7.6%.

In value terms, Hong Kong SAR ($X) constituted the largest supplier of carrots and turnips to China, comprising 95% of total imports. The second position in the ranking was held by Brazil ($X), with a 3.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR totaled -5.3%.

Import Prices by Country

In 2022, the average carrot and turnip import price amounted to $X per ton, growing by 10% against the previous year. Over the period under review, the import price enjoyed perceptible growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 95% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Hong Kong SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :