China: Fig Market 2023

Fig Market Size in China

The Chinese fig market soared to $X in 2021, jumping by 45% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Fig Production in China

In value terms, fig production amounted to $X in 2021 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -27.5% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 31% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

The average yield of figs in China surged to X tons per ha in 2021, growing by 15% against 2020 figures. Overall, the yield saw a relatively flat trend pattern. Over the period under review, the average fig yield attained the maximum level at X tons per ha in 2019; however, from 2020 to 2021, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of figs were harvested in China; with a decrease of -2% on 2020. The harvested area increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the harvested area increased by 6.5% against the previous year. The fig harvested area peaked at X ha in 2020, and then fell slightly in the following year.

Fig Exports

Exports from China

In 2021, after two years of growth, there was significant decline in shipments abroad of figs, when their volume decreased by -17.8% to X tons. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2013 with an increase of 306%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank rapidly in the following year.

In value terms, fig exports reduced sharply to $X in 2021. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 233% against the previous year. The exports peaked at $X in 2020, and then shrank sharply in the following year.

Exports by Country

Malaysia (X tons), Hong Kong SAR (X tons) and the United States (X tons) were the main destinations of fig exports from China, together accounting for 81% of total exports. These countries were followed by Taiwan (Chinese), Singapore, Vietnam and Russia, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +188.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) emerged as the key foreign market for fig exports from China, comprising 50% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+19.6% per year) and Taiwan (Chinese) (+44.2% per year).

Export Prices by Country

In 2021, the average fig export price amounted to $X per ton, declining by -10.6% against the previous year. In general, the export price continues to indicate a noticeable contraction. The growth pace was the most rapid in 2014 an increase of 29% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fig Imports

Imports into China

In 2021, imports of figs into China surged to X tons, increasing by 202% on the previous year's figure. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fig imports skyrocketed to $X in 2021. Overall, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Iran (X tons) constituted the largest supplier of fig to China, with a 71% share of total imports. Moreover, fig imports from Iran exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from Iran stood at +91.9%.

In value terms, Iran ($X) and Turkey ($X) were the largest fig suppliers to China.

Iran, with a CAGR of +73.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average fig import price stood at $X per ton in 2021, declining by -9.9% against the previous year. Over the period under review, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 4.7% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for Iran amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-8.3%).

Source: IndexBox Market Intelligence Platform

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