Vietnam: Onion And Shallot Market 2024

Onion And Shallot Market Size in Vietnam

The Vietnamese onion and shallot market rose modestly to $X in 2022, increasing by 2.7% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Onion and shallot consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Onion And Shallot Production in Vietnam

In value terms, onion and shallot production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 18%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

In 2022, the average onion and shallot yield in Vietnam stood at X tons per ha, therefore, remained relatively stable against the previous year. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 3.5% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the average onion and shallot yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of onions and shallots in Vietnam stood at X ha, remaining constant against 2021 figures. Overall, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the harvested area increased by 2.6%. The onion and shallot harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Onion And Shallot Exports

Exports from Vietnam

In 2022, overseas shipments of onions and shallots decreased by -15.4% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports faced a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by 45%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, onion and shallot exports contracted notably to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for onion and shallot exports from Vietnam, accounting for a 47% share of total exports. Moreover, onion and shallot exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fourfold. The third position in this ranking was taken by Indonesia (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Taiwan (Chinese) totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+5.9% per year) and Indonesia (-29.6% per year).

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for onions and shallots exports from Vietnam, comprising 46% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 13% share of total exports. It was followed by Indonesia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) totaled -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+7.4% per year) and Indonesia (-29.1% per year).

Export Prices by Country

The average onion and shallot export price stood at $X per ton in 2022, with a decrease of -2.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2014 an increase of 15%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then contracted modestly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Singapore ($X per ton), while the average price for exports to Indonesia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Onion And Shallot Imports

Imports into Vietnam

In 2022, after two years of decline, there was growth in supplies from abroad of onions and shallots, when their volume increased by 3.5% to X tons. Over the period under review, imports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 74% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, onion and shallot imports totaled $X in 2022. Overall, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 63% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons) and China (X tons) were the main suppliers of onion and shallot imports to Vietnam.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of -2.3%).

In value terms, China ($X) and India ($X) appeared to be the largest onion and shallot suppliers to Vietnam.

Among the main suppliers, India, with a CAGR of -3.0%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average onion and shallot import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2013 an increase of 23% against the previous year. The import price peaked at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.0%).

Source: IndexBox Platform

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