ASEAN: Carob Market 2024

Carob Market Size in ASEAN

In 2022, after two years of growth, there was significant decline in the ASEAN carob market, when its value decreased by X% to $X. Overall, consumption saw a mild downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Carob Production in ASEAN

In value terms, carob production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Thailand (X tons) constituted the country with the largest volume of carob production, accounting for X% of total volume. Moreover, carob production in Thailand exceeded the figures recorded by the second-largest producer, Lao People's Democratic Republic (X tons), more than tenfold.

In Thailand, carob production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Lao People's Democratic Republic (X% per year) and the Philippines (X% per year).

Carob Exports

Exports in ASEAN

In 2022, shipments abroad of carob was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports showed a strong expansion. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, carob exports skyrocketed to $X in 2022. In general, exports, however, showed a perceptible decrease. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X tons), achieving a X% share of total exports.

Singapore experienced a relatively flat trend pattern with regard to volume of exports of carob. Vietnam (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (X p.p.) displayed negative dynamics.

In value terms, Singapore ($X) emerged as the largest carob supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore was relatively modest.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Vietnam ($X per ton), while Singapore totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%).

Carob Imports

Imports in ASEAN

In 2022, after two years of growth, there was significant decline in supplies from abroad of carob, when their volume decreased by X% to X tons. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, carob imports contracted to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam was the major importing country with an import of around X tons, which recorded X% of total imports. Myanmar (X tons) took the second position in the ranking, followed by Thailand (X tons). All these countries together took near X% share of total imports. Cambodia (X tons) took a minor share of total imports.

Imports into Vietnam increased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%) and Cambodia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Myanmar and Cambodia increased by X, X and X percentage points, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported carob in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Myanmar ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In Vietnam, carob imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Myanmar (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price, however, recorded a noticeable expansion. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then fell slightly in the following year.

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

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

Source: IndexBox Platform

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