Southern Asia: Asparagus Market 2024

Asparagus Market Size in Southern Asia

In 2022, the South Asian asparagus market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a buoyant increase. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Asparagus Production in Southern Asia

In value terms, asparagus production totaled $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Bhutan (X tons) constituted the country with the largest volume of asparagus production, accounting for X% of total volume. Moreover, asparagus production in Bhutan exceeded the figures recorded by the second-largest producer, Nepal (X tons), twofold. Bangladesh (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Bhutan stood at X%. In the other countries, the average annual rates were as follows: Nepal (X% per year) and Bangladesh (X% per year).

In 2022, the average asparagus yield in Southern Asia expanded modestly to X tons per ha, surging by X% against 2021. Overall, the yield recorded a pronounced increase. The pace of growth appeared the most rapid in 2018 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the asparagus 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.

The asparagus harvested area declined dramatically to X ha in 2022, shrinking by X% against the year before. Over the period under review, the harvested area showed a pronounced shrinkage. The pace of growth was the most pronounced in 2013 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the asparagus harvested area remained at a somewhat lower figure.

Asparagus Exports

Exports in Southern Asia

Asparagus exports surged to X tons in 2022, jumping by X% against 2021. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, asparagus exports skyrocketed to $X in 2022. Over the period under review, exports saw a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Nepal was the key exporter of asparagus in Southern Asia, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by India (X tons), achieving a X% share of total exports. The following exporters - Pakistan (X tons) and Bangladesh (X tons) - together made up X% of total exports.

Nepal was also the fastest-growing in terms of the asparagus exports, with a CAGR of X% from 2012 to 2022. At the same time, Pakistan (X%) and India (X%) displayed positive paces of growth. By contrast, Bangladesh (X%) illustrated a downward trend over the same period. While the share of Nepal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bangladesh (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nepal ($X) remains the largest asparagus supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nepal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Pakistan (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while Nepal ($X per ton) was amongst the lowest.

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

Asparagus Imports

Imports in Southern Asia

In 2022, supplies from abroad of asparagus increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, asparagus imports soared to $X in 2022. In general, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, India (X tons) represented the key importer of asparagus, mixing up X% of total imports. Afghanistan (X tons) ranks second in terms of the total imports with a X% share, followed by Maldives (X%).

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

In value terms, the largest asparagus importing markets in Southern Asia were Maldives ($X), India ($X) and Afghanistan ($X), with a combined X% share of total imports.

Afghanistan, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Maldives ($X per ton), while India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform