Australia: Asparagus Market 2024

Asparagus Market Size in Australia

In 2022, the Australian asparagus market increased by X% to $X, rising for the sixth consecutive year after four years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Asparagus Production in Australia

In value terms, asparagus production rose significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

In 2022, the average yield of asparagus in Australia was estimated at X tons per ha, approximately mirroring the previous year. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. The asparagus yield peaked at X tons per ha in 2012; however, from 2013 to 2022, 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 2022, the asparagus harvested area in Australia fell to X ha, therefore, remained relatively stable against 2021. Over the period under review, the harvested area recorded a relatively flat trend pattern. 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 asparagus production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

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Asparagus Exports

Exports from Australia

In 2022, shipments abroad of asparagus was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, asparagus exports fell modestly to $X in 2022. In general, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and Singapore (X tons) were the main destinations of asparagus exports from Australia, with a combined X% share of total exports. Taiwan (Chinese), Hong Kong SAR and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for asparagus exported from Australia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average asparagus export price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Saudi Arabia ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Asparagus Imports

Imports into Australia

In 2022, the amount of asparagus imported into Australia shrank to X tons, reducing by X% compared with 2021 figures. Over the period under review, imports saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, asparagus imports fell to $X in 2022. In general, total imports indicated a tangible increase 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 decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) was the main asparagus supplier to Australia, accounting for a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

In value terms, Mexico ($X) constituted the largest supplier of asparagus to Australia, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Mexico stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Thailand (X% per year).

Import Prices by Country

The average asparagus import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price posted a strong increase. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Thailand ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform