Asia-Pacific: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Asia-Pacific

The Asia-Pacific market for broad beans and horse beans (dry) totaled $X in 2023, approximately reflecting the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Production of Broad Beans And Horse Beans (Dry) in Asia-Pacific

In value terms, broad bean and horse bean production totaled $X in 2023 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

China (X tons) remains the largest broad bean and horse bean producing country in Asia-Pacific, accounting for X% of total volume. Moreover, broad bean and horse bean production in China exceeded the figures recorded by the second-largest producer, Australia (X tons), threefold.

In China, broad bean and horse bean production remained relatively stable over the period from 2012-2023.

In 2023, the average yield of broad beans and horse beans (dry) in Asia-Pacific totaled X tons per ha, approximately mirroring the previous year's figure. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2017 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 2018 to 2023, the growth of the broad bean and horse bean 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 harvested area of broad beans and horse beans (dry) in Asia-Pacific declined to X ha, approximately reflecting the previous year. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to broad bean and horse bean production reached the maximum at X ha in 2018; however, from 2019 to 2023, the harvested area failed to regain momentum.

Exports of Broad Beans And Horse Beans (Dry)

Exports in Asia-Pacific

In 2023, overseas shipments of broad beans and horse beans (dry) decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2022, and then fell in the following year.

In value terms, broad bean and horse bean exports contracted remarkably to $X in 2023. Total exports indicated a moderate increase from 2012 to 2023: its value 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, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2022, and then fell markedly in the following year.

Exports by Country

Australia (X tons) represented roughly X% of total exports in 2023.

Australia was also the fastest-growing in terms of the broad beans and horse beans (dry) exports, with a CAGR of X% from 2012 to 2023. While the share of Australia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest broad bean and horse bean supplier in Asia-Pacific.

In Australia, broad bean and horse bean exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, falling by X% against the previous year. Overall, the export price showed a perceptible curtailment. The pace of growth was the most pronounced in 2019 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Australia.

From 2012 to 2023, the rate of growth in terms of prices for Australia amounted to X% per year.

Imports of Broad Beans And Horse Beans (Dry)

Imports in Asia-Pacific

Broad bean and horse bean imports surged to X tons in 2023, jumping by X% compared with 2022 figures. Total imports indicated a buoyant expansion from 2012 to 2023: its volume 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, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of X%. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, broad bean and horse bean imports soared to $X in 2023. Total imports indicated a notable expansion 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, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of broad bean and horse bean imports in 2023 were India (X tons), Indonesia (X tons) and Vietnam (X tons), together finishing at X% of total import. Thailand (X tons) ranks next in terms of the total imports with an X% share, followed by New Zealand (X%) and Japan (X%). Taiwan (Chinese) (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by New Zealand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest broad bean and horse bean importing markets in Asia-Pacific were Indonesia ($X), India ($X) and Thailand ($X), with a combined X% share of total imports. New Zealand, Japan, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

New Zealand, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, waning by X% against the previous year. Overall, the import price continues to indicate a noticeable setback. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform