Southern Asia: Asparagus Market 2024

Asparagus Market Size in Southern Asia

In 2023, the South Asian asparagus market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption recorded a remarkable increase. The level of consumption peaked in 2023 and is likely to see steady growth in years to come.

Asparagus Production in Southern Asia

In value terms, asparagus production fell remarkably to $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Bhutan (X tons) constituted the country with the largest volume of asparagus production, comprising approx. X% of total volume. Moreover, asparagus production in Bhutan exceeded the figures recorded by the second-largest producer, Nepal (X tons), fourfold.

From 2012 to 2023, the average annual rate of growth in terms of volume in Bhutan was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Nepal (X% per year) and Pakistan (X% per year).

The average asparagus yield expanded modestly to X tons per ha in 2023, picking up by X% compared with the year before. Overall, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2014; however, from 2015 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, approx. X ha of asparagus were harvested in Southern Asia; increasing by X% compared with the year before. In general, the harvested area, however, saw a slight contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2023, the growth of the asparagus harvested area remained at a somewhat lower figure.

Asparagus Exports

Exports in Southern Asia

In 2023, the amount of asparagus exported in Southern Asia shrank notably to X tons, falling by X% compared with 2022 figures. Over the period under review, exports continue to indicate a noticeable decline. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, asparagus exports contracted notably to $X in 2023. In general, exports showed a deep reduction. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Nepal prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Bangladesh (X tons), committing a X% share of total exports. The following exporters - India (X kg) and Pakistan (X kg) - each resulted at a X% share of total exports.

Exports from Nepal increased at an average annual rate of X% from 2012 to 2023. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, India (X%) and Bangladesh (X%) illustrated a downward trend over the same period. Nepal (X p.p.) significantly strengthened its position in terms of the total exports, while Bangladesh saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nepal ($X) remains the largest asparagus supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

In Nepal, asparagus 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: Bangladesh (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Nepal ($X per ton) and Pakistan ($X per ton), while Bangladesh ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the export price figures.

Asparagus Imports

Imports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in supplies from abroad of asparagus, which increased by X% to X tons in 2023. Over the period under review, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, asparagus imports skyrocketed to $X in 2023. In general, imports recorded significant growth. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

Imports by Country

India (X tons), Afghanistan (X tons) and Maldives (X tons) represented roughly X% of total imports in 2023.

From 2012 to 2023, the biggest increases were recorded for Afghanistan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X), India ($X) and Afghanistan ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Afghanistan, with a CAGR of X%, saw 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 more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, growing by X% against the previous year. Overall, the import price saw a strong expansion. The growth pace was the most rapid in 2019 when the import price increased by X%. The level of import peaked 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 Maldives ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform