Asia: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Asia

In 2022, the Asian lucerne meal and pellets market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in Asia

In value terms, lucerne meal and pellets production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in Asia

In 2022, overseas shipments of lucerne (alfalfa) meal and pellets decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports recorded a noticeable setback. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, lucerne meal and pellets exports rose markedly to $X in 2022. Overall, exports saw a perceptible contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Oman dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. The following exporters - the United Arab Emirates (X tons), Kazakhstan (X tons) and Pakistan (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to lucerne meal and pellets exports from Oman stood at X%. At the same time, Kazakhstan (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Pakistan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Oman, Kazakhstan and the United Arab Emirates increased by X, X and X percentage points, respectively.

In value terms, Oman ($X) remains the largest lucerne meal and pellets supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Kazakhstan, with a X% share.

In Oman, lucerne meal and pellets exports declined by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Kazakhstan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 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 Oman ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports in Asia

In 2022, supplies from abroad of lucerne (alfalfa) meal and pellets increased by X% to X tons, rising for the third consecutive year after four years of decline. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, lucerne meal and pellets imports surged to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Japan (X tons), Jordan (X tons), Kuwait (X tons) and Qatar (X tons), together committing a X% share of total imports. China (X tons), Taiwan (Chinese) (X tons) and Oman (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%), Kuwait (X%), Qatar (X%) and Jordan (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%), Taiwan (Chinese) (X%) and Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait, China, Qatar and Jordan increased by X, X, X, X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lucerne (alfalfa) meal and pellets in Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, lucerne meal and pellets imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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