Thailand: Asparagus Market 2024

Asparagus Market Size in Thailand

The Thai asparagus market reduced slightly to $X in 2022, waning by X% against the previous year. Overall, the total consumption indicated mild growth 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Asparagus Production in Thailand

In value terms, asparagus production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. Asparagus production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of asparagus in Thailand fell to X tons per ha in 2022, standing approx. at 2021 figures. In general, the yield indicated a notable increase from 2012 to 2022: its figure 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, asparagus yield decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2015 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 2016 to 2022, the growth of the average asparagus 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.

The asparagus harvested area in Thailand was estimated at X ha in 2022, approximately mirroring 2021 figures. Overall, the harvested area, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. 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 failed to regain momentum.

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Asparagus Exports

Exports from Thailand

In 2022, the amount of asparagus exported from Thailand fell dramatically to X tons, which is down by X% compared with 2021. Overall, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, asparagus exports declined slightly to $X in 2022. Over the period under review, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for asparagus exports from Thailand, accounting for a X% share of total exports. Moreover, asparagus exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, South Korea (X tons), fourfold. Singapore (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Singapore (X% per year).

In value terms, South Korea ($X), the United Arab Emirates ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for asparagus exported from Thailand worldwide, together comprising X% of total exports. Qatar, India, Kuwait, Hong Kong SAR, Bahrain, Saudi Arabia, Japan, Singapore and Australia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Qatar, with a CAGR of X%, saw the highest growth rate of the value of exports, 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, increasing by X% against the previous year. Over the period under review, the export price recorded a perceptible increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Asparagus Imports

Imports into Thailand

In 2022, overseas purchases of asparagus increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, asparagus imports surged to $X in 2022. Overall, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Peru (X tons) constituted the largest supplier of asparagus to Thailand, accounting for a X% share of total imports. Moreover, asparagus imports from Peru exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Peru amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and France (X% per year).

In value terms, Peru ($X), Australia ($X) and France ($X) were the largest asparagus suppliers to Thailand, with a combined X% share of total imports. The Netherlands, Mexico and China lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 ton in 2022, with a decrease of X% against the previous year. Overall, the import price, however, showed a prominent expansion. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then declined remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform