Eastern Asia: Onion And Shallot Market 2024

Onion And Shallot Market Size in Eastern Asia

The East Asian onion and shallot market contracted to $X in 2022, waning by -2.4% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Onion And Shallot Production in Eastern Asia

In value terms, onion and shallot production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 28% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The country with the largest volume of onion and shallot production was China (X tons), accounting for 86% of total volume. Moreover, onion and shallot production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Japan (+1.1% per year) and South Korea (+1.5% per year).

In 2022, the average yield of onions and shallots in Eastern Asia contracted to X tons per ha, approximately mirroring the previous year's figure. In general, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 1.5%. Over the period under review, the onion and shallot yield hit record highs at X tons per ha in 2021, and then declined 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, the onion and shallot harvested area in Eastern Asia shrank modestly to X ha, stabilizing at the year before. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 2.6% against the previous year. Over the period under review, the harvested area dedicated to onion and shallot production reached the maximum at X ha in 2018; afterwards, it flattened through to 2022.

Onion And Shallot Exports

Exports in Eastern Asia

In 2022, overseas shipments of onions and shallots were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, onion and shallot exports soared to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 27% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near 97% of total exports in 2022. Japan (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Japan (+76.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +76.6% from 2012-2022. Japan (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -2.6% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest onion and shallot supplier in Eastern Asia, comprising 97% of total exports. The second position in the ranking was held by Japan ($X), with a 2.1% share of total exports.

In China, onion and shallot exports expanded at an average annual rate of +6.8% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2021 an increase of 20%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%).

Onion And Shallot Imports

Imports in Eastern Asia

In 2022, purchases abroad of onions and shallots increased by 14% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 27% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, onion and shallot imports soared to $X in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 32%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Japan (X tons) represented the key importer of onions and shallots, constituting 63% of total imports. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together making up a 34% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of -2.0% from 2012 to 2022. At the same time, South Korea (+6.2%) and Taiwan (Chinese) (+2.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +6.2% from 2012-2022. By contrast, Hong Kong SAR (-10.3%) illustrated a downward trend over the same period. South Korea (+8.3 p.p.) and Taiwan (Chinese) (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Japan saw its share reduced by -2.8% and -10.6% from 2012 to 2022, respectively.

In value terms, Japan ($X) constitutes the largest market for imported onions and shallots in Eastern Asia, comprising 72% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

In Japan, onion and shallot imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.6% per year) and Taiwan (Chinese) (+2.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 an increase of 22%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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