Myanmar: Vegetable Product Market 2024

Vegetable Product Market Size in Myanmar

The Myanmar's vegetable product market expanded modestly to $X in 2022, increasing by 3.3% against the previous year. Overall, consumption recorded a perceptible decrease. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Product Production in Myanmar

In value terms, vegetable product production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the production volume increased by 25% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

In 2022, the average yield of vegetable products in Myanmar fell slightly to X tons per ha, approximately mirroring the year before. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 2.7%. The vegetable product yield peaked at X tons per ha in 2021, and then shrank 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 total area harvested in terms of vegetable products production in Myanmar declined modestly to X ha, therefore, remained relatively stable against the previous year's figure. The harvested area increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the harvested area increased by 8.6%. Over the period under review, the harvested area dedicated to vegetable product production attained the maximum at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

Vegetable Product Exports

Exports from Myanmar

After two years of growth, shipments abroad of vegetable products decreased by -1% to X tons in 2022. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 5,688% against the previous year. The exports peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, vegetable product exports declined to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 3,141%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for vegetable product exports from Myanmar, with a 94% share of total exports. Moreover, vegetable product exports to China exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +59.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+7.3% per year) and Japan (+3.5% per year).

In value terms, China ($X) remains the key foreign market for vegetable products exports from Myanmar, comprising 98% of total exports. The second position in the ranking was taken by Thailand ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled +50.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+4.8% per year) and Japan (-33.8% per year).

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, reducing by -5.3% against the previous year. Overall, the export price continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 when the average export price increased by 74%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Thailand ($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 Thailand (-2.4%), while the prices for the other major destinations experienced a decline.

Vegetable Product Imports

Imports into Myanmar

Vegetable product imports into Myanmar contracted significantly to X tons in 2022, which is down by -61.8% against 2021 figures. Over the period under review, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2015 when imports increased by 510%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, vegetable product imports shrank remarkably to $X in 2022. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 687%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of vegetable product to Myanmar, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -19.9%.

In value terms, China ($X) constituted the largest supplier of vegetable products to Myanmar.

From 2012 to 2022, the average annual growth rate of value from China totaled -24.9%.

Import Prices by Country

The average vegetable product import price stood at $X per ton in 2022, jumping by 109% against the previous year. Over the period under review, the import price showed a noticeable expansion. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to +0.8% per year.

Source: IndexBox Platform

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