ASEAN: Green Peas Market 2024

Green Peas Market Size in ASEAN

In 2023, the ASEAN green peas market decreased by X% to $X, falling for the third consecutive year after two years of growth. Overall, consumption, however, recorded a mild downturn. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Green Peas Production in ASEAN

In value terms, green peas production dropped to $X in 2023 estimated in export price. Overall, production recorded a pronounced decrease. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

The countries with the highest volumes of production in 2023 were the Philippines (X tons), Vietnam (X tons) and Thailand (X tons), together accounting for X% of total production.

From 2012 to 2023, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Vietnam (with a CAGR of X%), while production for the other leaders experienced mixed trends in the production figures.

In 2023, the average green peas yield in ASEAN totaled X tons per ha, remaining relatively unchanged against the previous year. Over the period under review, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the yield increased by X%. Over the period under review, the green peas yield attained the maximum level at X tons per ha in 2019; however, from 2020 to 2023, the 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.

In 2023, the total area harvested in terms of peas (green) production in ASEAN declined modestly to X ha, approximately equating the previous year. Over the period under review, the harvested area continues to indicate a pronounced descent. The growth pace was the most rapid in 2016 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area remained at a lower figure.

Green Peas Exports

Exports in ASEAN

Green peas exports shrank to X tons in 2023, which is down by X% against the year before. In general, exports saw a noticeable curtailment. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, green peas exports expanded remarkably to $X in 2023. Total exports indicated a remarkable increase from 2012 to 2023: its value 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, exports increased by X% against 2021 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Vietnam (X tons) was the key exporter of peas (green), making up X% of total exports. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Malaysia (X%).

Vietnam was also the fastest-growing in terms of the peas (green) exports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%) displayed positive paces of growth. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Vietnam and Malaysia increased by X and X percentage points, respectively.

In value terms, Vietnam ($X) remains the largest green peas supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Vietnam amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Export price indicated a strong expansion 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, green peas export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($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 other leaders experienced more modest paces of growth.

Green Peas Imports

Imports in ASEAN

After two years of decline, overseas purchases of peas (green) increased by X% to X tons in 2023. Overall, imports, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, green peas imports totaled $X in 2023. Total imports indicated noticeable growth from 2012 to 2023: its value 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. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Thailand was the major importer of peas (green) in ASEAN, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Singapore (X tons), together making up a X% share of total imports. Indonesia (X tons) followed a long way behind the leaders.

Imports into Thailand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Singapore (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Thailand saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, rising by X% against the previous year. Import price indicated a remarkable 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, green peas import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked in 2023 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 other leaders experienced more modest paces of growth.

Source: IndexBox Platform