Vietnam: Asparagus Market 2024

Asparagus Market Size in Vietnam

After two years of growth, the Vietnamese asparagus market decreased by X% to $X in 2023. Over the period under review, consumption, however, showed a resilient increase. Over the period under review, the market hit record highs at $X in 2022, and then shrank rapidly in the following year.

Asparagus Production in Vietnam

In value terms, asparagus production skyrocketed to $X in 2023 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2023, production growth failed to regain momentum.

The average yield of asparagus in Vietnam totaled less than X kg per ha in 2023, therefore, remained relatively stable against 2022 figures. Over the period under review, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. less than X ha of asparagus were harvested in Vietnam; remaining constant against the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Asparagus Exports

Exports from Vietnam

In 2023, the amount of asparagus exported from Vietnam surged to X tons, with an increase of X% against the previous year. Over the period under review, exports, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, asparagus exports rose markedly to $X in 2023. In general, exports, however, saw a perceptible decline. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Malaysia (X tons) and Russia (X kg) were the main destinations of asparagus exports from Vietnam.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for asparagus exported from Vietnam were Malaysia ($X), the United Arab Emirates ($X) and Russia ($X), with a combined X% share of total exports.

Among the main countries of destination, the United Arab Emirates, 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 mixed trend patterns.

Export Prices by Country

In 2023, the average asparagus export price amounted to $X per ton, shrinking by X% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, asparagus export price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Asparagus Imports

Imports into Vietnam

In 2023, approx. X tons of asparagus were imported into Vietnam; falling by X% compared with the previous year's figure. In general, imports, however, recorded a tangible increase. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, asparagus imports fell markedly to $X in 2023. Overall, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2023, Peru (X tons) constituted the largest asparagus supplier to Vietnam, accounting for a X% share of total imports. Moreover, asparagus imports from Peru exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold.

From 2012 to 2023, the average annual growth rate of volume from Peru amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and France (X% per year).

In value terms, Peru ($X) constituted the largest supplier of asparagus to Vietnam, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from Peru totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average asparagus import price stood at $X per ton in 2023, remaining constant against the previous year. In general, import price indicated prominent growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, asparagus import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2022, and then reduced modestly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform