South-Eastern Asia: Green Peas Market 2024

Green Peas Market Size in South-Eastern Asia

In 2023, the Southeast Asian green peas market decreased by X% to $X, falling for the third consecutive year after two years of growth. In general, consumption, however, saw a mild slump. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Green Peas Production in South-Eastern Asia

In value terms, green peas production shrank slightly to $X in 2023 estimated in export price. Overall, production continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2023 were the Philippines (X tons), Vietnam (X tons) and Thailand (X tons), with a combined X% share of total production.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while production for the other leaders experienced mixed trends in the production figures.

The average green peas yield totaled X tons per ha in 2023, therefore, remained relatively stable against the previous year's figure. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the green peas yield reached the peak level at X tons per ha in 2019; however, from 2020 to 2023, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of peas (green) production in South-Eastern Asia shrank slightly to X ha, approximately equating the previous year. Overall, the harvested area recorded a perceptible downturn. The pace of growth was the most pronounced in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to green peas production reached the peak figure at X ha in 2012; however, from 2013 to 2023, the harvested area failed to regain momentum.

Green Peas Exports

Exports in South-Eastern Asia

In 2023, exports of peas (green) in South-Eastern Asia declined to X tons, waning by X% against 2022 figures. Over the period under review, exports showed a pronounced descent. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a lower figure.

In value terms, green peas exports expanded significantly to $X in 2023. Total exports indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Vietnam (X tons) represented the main exporter of peas (green), mixing up X% of total exports. Thailand (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%).

Vietnam was also the fastest-growing in terms of the peas (green) exports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Thailand (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest green peas supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

In Vietnam, green peas exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated prominent growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, green peas export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Green Peas Imports

Imports in South-Eastern Asia

In 2023, overseas purchases of peas (green) increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, imports, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, green peas imports rose rapidly to $X in 2023. Total imports indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Thailand (X tons) was the main importer of peas (green), constituting X% of total imports. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Singapore (X tons), together creating a X% share of total imports. Indonesia (X tons) held a minor share of total imports.

Imports into Thailand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Malaysia (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest green peas importing markets in South-Eastern Asia were Thailand ($X), Malaysia ($X) and Vietnam ($X), together comprising X% of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2023, the import price in South-Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a prominent increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, green peas import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform