Asia: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Asia

The Asian lucerne meal and pellets market contracted modestly to $X in 2023, standing approx. at the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market failed to regain momentum.

Production of Lucerne (Alfalfa) Meal And Pellets in Asia

In value terms, lucerne meal and pellets production reached $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in Asia

In 2023, the amount of lucerne (alfalfa) meal and pellets exported in Asia expanded markedly to X tons, surging by X% compared with the previous year. Over the period under review, exports, however, continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, lucerne meal and pellets exports shrank to $X in 2023. Overall, exports, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Oman dominates exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), making up a X% share of total exports. Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to lucerne meal and pellets exports from Oman stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Pakistan (X%) illustrated a downward trend over the same period. Oman (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Oman ($X) remains the largest lucerne meal and pellets supplier in Asia, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Oman amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Pakistan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports in Asia

In 2023, approx. X tons of lucerne (alfalfa) meal and pellets were imported in Asia; surging by X% compared with 2022 figures. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, lucerne meal and pellets imports fell to $X in 2023. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the United Arab Emirates (X tons), distantly followed by Saudi Arabia (X tons), Jordan (X tons), Japan (X tons), Qatar (X tons) and South Korea (X tons) represented the largest importers of lucerne (alfalfa) meal and pellets, together creating X% of total imports. Oman (X tons) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Jordan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lucerne (alfalfa) meal and pellets in Asia, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In the United Arab Emirates, lucerne meal and pellets imports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform