Malaysia: Asparagus Market 2022

Asparagus Market Size in Malaysia

In 2021, the Malaysian asparagus market decreased by -X% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption faced a deep reduction. Asparagus consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Asparagus Exports

Exports from Malaysia

In 2021, shipments abroad of asparagus increased by X% to X tonnes, rising for the second year in a row after two years of decline. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. The exports peaked at X tonnes in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, asparagus exports rose to $X in 2021. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% y-o-y. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tonnes) was the main destination for asparagus exports from Malaysia, with a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland stood at +X%.

From 2012 to 2021, the average annual growth rate of value to Poland totaled +X%.

Export Prices by Country

The average asparagus export price stood at $X per tonne in 2021, waning by -X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per tonne in 2020, and then dropped dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for Poland.

From 2012 to 2021, the rate of growth in terms of prices for Poland amounted to +X% per year.

Asparagus Imports

Imports into Malaysia

In 2021, overseas purchases of asparagus decreased by -X% to X tonnes, falling for the third year in a row after three years of growth. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2014 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, asparagus imports shrank dramatically to $X in 2021. Overall, imports faced a drastic downturn. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tonnes) constituted the largest asparagus supplier 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 United States (X tonnes), ninefold. China (X tonnes) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-X% per year) and China (+X% per year).

In value terms, the largest asparagus suppliers to Malaysia were the United States ($X), Thailand ($X) and Australia ($X), with a combined X% share of total imports. China lagged somewhat behind, accounting for a further X, with a CAGR of -X%, recorded 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 a decline.

Import Prices by Country

The average asparagus import price stood at $X per tonne in 2021, falling by -X% against the previous year. In general, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per tonne), while the price for Thailand ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform