Vietnam: Lettuce And Chicory Market 2024

Lettuce And Chicory Market Size in Vietnam

The Vietnamese lettuce and chicory market reduced markedly to $X in 2022, dropping by -46% against the previous year. Over the period under review, consumption continues to indicate a deep contraction. Lettuce and chicory consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Lettuce And Chicory Production in Vietnam

In value terms, lettuce and chicory production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, saw a mild reduction. The most prominent rate of growth was recorded in 2015 with an increase of 20% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of lettuce and chicory in Vietnam stood at less than X kg per ha in 2022, approximately mirroring 2021. In general, the yield continues to indicate a relatively flat trend pattern. 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 lettuce and chicory production in Vietnam stood at less than X ha, remaining stable against 2021 figures. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Lettuce And Chicory Exports

Exports from Vietnam

In 2022, after six years of growth, there was decline in overseas shipments of lettuce and chicory, when their volume decreased by -4.6% to X tons. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 163%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, lettuce and chicory exports declined to $X in 2022. Over the period under review, exports, however, saw a resilient increase. The growth pace was the most rapid in 2014 when exports increased by 110%. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for lettuce and chicory exports from Vietnam, with a 94% share of total exports. It was followed by Singapore (X tons), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) totaled +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-6.2% per year) and South Korea (+3.4% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for lettuce and chicory exports from Vietnam, comprising 90% of total exports. The second position in the ranking was taken by Singapore ($X), with a 3.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-0.4% per year) and South Korea (+6.3% per year).

Export Prices by Country

In 2022, the average lettuce and chicory export price amounted to $X per ton, with a decrease of -4.6% against the previous year. In general, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 18% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Lao People's Democratic Republic (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lettuce And Chicory Imports

Imports into Vietnam

In 2022, purchases abroad of lettuce and chicory decreased by -36.8% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, showed a strong expansion. The growth pace was the most rapid in 2021 with an increase of 278% against the previous year. As a result, imports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, lettuce and chicory imports dropped sharply to $X in 2022. Overall, imports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 327%. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, China (X tons) was the main lettuce and chicory supplier to Vietnam, with a 95% share of total imports. Moreover, lettuce and chicory imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +10.3%.

In value terms, China ($X) constituted the largest supplier of lettuce and chicory to Vietnam, comprising 94% of total imports. The second position in the ranking was held by Australia ($X), with a 4.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +14.0%.

Import Prices by Country

The average lettuce and chicory import price stood at $X per ton in 2022, declining by -2.4% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lettuce and chicory import price increased by +44.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 24%. The import price peaked at $X per ton in 2021, and then shrank modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.8%).

Source: IndexBox Platform

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