Malaysia: Asparagus Market Overview 2021

Asparagus Market Size in Malaysia

After two years of decline, the Malaysian asparagus market increased by X% to $X in 2020. Overall, consumption continues to indicate strong growth. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2020, consumption failed to regain the momentum.

Asparagus Exports

Exports from Malaysia

After two years of decline, overseas shipments of asparagus increased by X% to X tonnes in 2020. Overall, exports showed strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% y-o-y. Exports peaked at X tonnes in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

In value terms, asparagus exports surged to $X in 2020. Over the period under review, exports recorded a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Exports peaked at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tonnes) was the main destination for asparagus exports from Malaysia, with a X% share of total exports. Moreover, asparagus exports to Singapore exceeded the volume sent to the second major destination, Thailand (X tonnes), tenfold.

From 2007 to 2020, the average annual growth rate of volume to Singapore amounted to +X%.

In value terms, Singapore ($X) remains the key foreign market for asparagus exports from Malaysia, comprising X% of total exports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Singapore totaled +X%.

Export Prices by Country

The average asparagus export price stood at $X per tonne in 2020, surging by X% against the previous year. In general, the export price enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2018 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum in 2020 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Singapore ($X per tonne), while the average price for exports to Thailand stood at $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Singapore.

Asparagus Imports

Imports into Malaysia

In 2020, supplies from abroad of asparagus was finally on the rise to reach X tonnes for the first time since 2017, thus ending a two-year declining trend. In general, imports recorded prominent growth. The pace of growth appeared the most rapid in 2011 with an increase of X% year-to-year. Imports peaked at X tonnes in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, asparagus imports surged to $X in 2020. Overall, imports saw strong growth. The pace of growth was the most pronounced in 2012 with an increase of X% year-to-year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Thailand (X tonnes) constituted the largest supplier of asparagus to Malaysia, accounting for a X% share of total imports. Moreover, asparagus imports from Thailand exceeded the figures recorded by the second-largest supplier, the U.S. (X tonnes), threefold. Australia (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Thailand stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Australia (+X% per year).

In value terms, the U.S. ($X), Thailand ($X) and Australia ($X) appeared to be the largest asparagus suppliers to Malaysia, together accounting for X% of total imports.

Thailand (+X% per year) saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average asparagus import price stood at $X per tonne in 2020, reducing by -X% against the previous year. In general, the import price, however, showed a measured increase. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2019, and then reduced in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Peru, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for asparagus in the world?

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The country with the largest volume of asparagus consumption was China (8.5M tonnes), accounting for 88% of total volume. It was followed by the U.S. (261K tonnes), with a 2.7% share of total consumption. The third position in this ranking was occupied by Peru (246K tonnes), with a 2.5% share.

What are the largest producers of asparagus in the world?

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China (8.5M tonnes) remains the largest asparagus producing country worldwide, accounting for 88% of total volume. Moreover, asparagus production in China exceeded the figures recorded by the second-largest producer, Peru (375K tonnes), more than tenfold.

What are the leading suppliers of asparagus to Malaysia?

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In value terms, the U.S. ($341K), Thailand ($318K) and Australia ($138K) constituted the largest asparagus suppliers to Malaysia, together accounting for 86% of total imports.

What are the leading importers of asparagus from Malaysia?

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In value terms, Singapore ($62K) remains the key foreign market for asparagus exports from Malaysia, comprising 95% of total exports. The second position in the ranking was occupied by Thailand ($2.1K), with a 3.3% share of total exports.

What is the average export price for asparagus in Malaysia?

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In 2020, the average asparagus export price amounted to $5,474 per tonne, growing by 11% against the previous year.

What is the average import price for asparagus in Malaysia?

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The average asparagus import price stood at $3,478 per tonne in 2020, declining by -14.5% against the previous year.