Southern Asia: Carrot And Turnip Market 2024

Carrot And Turnip Market Size in Southern Asia

The South Asian carrot and turnip market stood at $X in 2022, standing approx. at the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.0% against 2020 indices. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Carrot And Turnip Production in Southern Asia

In value terms, carrot and turnip production totaled $X in 2022 estimated in export price. Overall, production, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 70%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Pakistan (X tons), India (X tons) and Sri Lanka (X tons), together accounting for 98% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Sri Lanka (with a CAGR of +19.6%), while production for the other leaders experienced more modest paces of growth.

The average carrot and turnip yield reduced to X tons per ha in 2022, which is down by -7.1% compared with 2021. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. As a result, the yield attained the peak level of X tons per ha, and then contracted 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 dropped modestly to X ha in 2022, leveling off at 2021. The harvested area increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 10% against the previous year. Over the period under review, the harvested area dedicated to carrot and turnip production attained the peak figure at X ha in 2021, and then dropped slightly in the following year.

Carrot And Turnip Exports

Exports in Southern Asia

In 2022, the amount of carrots and turnips exported in Southern Asia shrank dramatically to X tons, which is down by -37.5% against the previous year's figure. Over the period under review, exports, however, posted noticeable growth. The most prominent rate of growth was recorded in 2021 with an increase of 135%. As a result, the exports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, carrot and turnip exports shrank notably to $X in 2022. In general, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 82%. As a result, the exports reached the peak of $X, and then declined sharply in the following year.

Exports by Country

In 2022, India (X tons) was the main exporter of carrots and turnips, committing 64% of total exports. It was distantly followed by Afghanistan (X tons), committing a 25% share of total exports. Bangladesh (X tons), Bhutan (X tons) and Pakistan (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to carrot and turnip exports from India stood at +7.4%. At the same time, Bangladesh (+44.2%), Afghanistan (+3.5%) and Pakistan (+1.7%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +44.2% from 2012-2022. By contrast, Bhutan (-14.1%) illustrated a downward trend over the same period. While the share of India (+20 p.p.) and Bangladesh (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bhutan (-19.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest carrot and turnip supplier in Southern Asia, comprising 72% of total exports. The second position in the ranking was taken by Afghanistan ($X), with a 14% share of total exports. It was followed by Bangladesh, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to +14.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Afghanistan (+2.4% per year) and Bangladesh (+33.2% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, dropping by -11.8% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carrot and turnip export price decreased by -31.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 51%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.8%), while the other leaders experienced mixed trends in the export price figures.

Carrot And Turnip Imports

Imports in Southern Asia

In 2022, approx. X tons of carrots and turnips were imported in Southern Asia; with an increase of 5.8% against 2021 figures. Overall, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 118%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, carrot and turnip imports contracted slightly to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 109% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Bangladesh was the key importer of carrots and turnips in Southern Asia, with the volume of imports amounting to X tons, which was near 80% of total imports in 2022. It was distantly followed by Maldives (X tons), generating a 12% share of total imports. The following importers - Pakistan (X tons) and Afghanistan (X tons) - together made up 6.6% of total imports.

Bangladesh was also the fastest-growing in terms of the carrots and turnips imports, with a CAGR of +38.8% from 2012 to 2022. At the same time, Afghanistan (+28.2%) and Pakistan (+14.9%) displayed positive paces of growth. Maldives experienced a relatively flat trend pattern. Bangladesh (+62 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and Maldives saw its share reduced by -2.2% and -57.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) constitutes the largest market for imported carrots and turnips in Southern Asia, comprising 66% of total imports. The second position in the ranking was taken by Maldives ($X), with a 25% share of total imports. It was followed by Pakistan, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value in Bangladesh totaled +25.3%. The remaining importing countries recorded the following average annual rates of imports growth: Maldives (-1.2% per year) and Pakistan (+4.3% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, falling by -8.4% against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The growth pace was the most rapid in 2021 when the import price increased by 20% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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