South-Eastern Asia: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in South-Eastern Asia

The Southeast Asian carrot and turnip market declined modestly to $X in 2022, which is down by -2.7% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Carrot And Turnip Production in South-Eastern Asia

In value terms, carrot and turnip production amounted to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 65% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

The country with the largest volume of carrot and turnip production was Indonesia (X tons), accounting for 90% of total volume. Moreover, carrot and turnip production in Indonesia exceeded the figures recorded by the second-largest producer, the Philippines (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume in Indonesia totaled +3.9%.

In 2022, the average yield of carrots and turnips in South-Eastern Asia dropped to X tons per ha, which is down by -7.1% compared with the previous year's figure. The yield figure increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the yield increased by 16% against the previous year. As a result, the yield reached the peak level of X tons per ha, and then fell 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.

The carrot and turnip harvested area rose modestly to X ha in 2022, growing by 2.8% against 2021. The harvested area increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the harvested area increased by 9.4%. As a result, the harvested area reached the peak level of X ha. From 2020 to 2022, the growth of the carrot and turnip harvested area failed to regain momentum.

Carrot And Turnip Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of carrots and turnips decreased by -10.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2014 when exports increased by 91% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, carrot and turnip exports declined rapidly to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 59%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced notably in the following year.

Exports by Country

Vietnam was the major exporting country with an export of around X tons, which accounted for 69% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 17% share, followed by Thailand (10%). Singapore (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of +35.0% from 2012 to 2022. At the same time, Thailand (+35.8%), Malaysia (+3.1%) and Singapore (+3.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +35.8% from 2012-2022. Vietnam (+51 p.p.) and Thailand (+7.9 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Malaysia saw its share reduced by -9.3% and -48.3% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest carrot and turnip supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total exports. It was followed by Thailand, with a 10% share.

In Vietnam, carrot and turnip exports expanded at an average annual rate of +40.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.5% per year) and Thailand (+31.6% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, declining by -6.2% against the previous year. Overall, the export price saw a slight downturn. The growth pace was the most rapid in 2018 an increase of 13% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Carrot And Turnip Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of carrots and turnips decreased by -3.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 34%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, carrot and turnip imports fell to $X in 2022. In general, imports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2018 when imports increased by 53% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) represented the major importer of carrots and turnips, making up 53% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons) and Singapore (X tons). All these countries together took near 46% share of total imports.

Thailand was also the fastest-growing in terms of the carrots and turnips imports, with a CAGR of +6.5% from 2012 to 2022. Singapore and Malaysia experienced a relatively flat trend pattern. Vietnam (-7.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by +27 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest carrot and turnip importing markets in South-Eastern Asia were Thailand ($X), Malaysia ($X) and Vietnam ($X), together accounting for 84% of total imports.

Thailand, with a CAGR of +3.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, shrinking by -4.7% against the previous year. Over the period under review, the import price continues to indicate a mild contraction. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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