Asia-Pacific: Grain Market 2024

Grain Market Size in Asia-Pacific

In 2022, after two years of growth, there was decline in the Asia-Pacific grain market, when its value decreased by X% to $X.1B. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X.6B in 2021, and then shrank modestly in the following year.

Grain Production in Asia-Pacific

In value terms, grain production reduced to $X.4B in 2022 estimated in export price. In general, production, however, saw a moderate increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X.3B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Indonesia (X tons), with a combined X% share of total production. Bangladesh, Australia, Pakistan, Vietnam, Thailand, Myanmar and the Philippines lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average grain yield in Asia-Pacific totaled X tons per ha, remaining relatively unchanged against the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of yield peaked in 2022 and is likely to see steady growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cereal grains production in Asia-Pacific contracted slightly to X ha, remaining constant against 2021 figures. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the harvested area reached the peak level of X ha, and then declined slightly in the following year.

Grain Exports

Exports in Asia-Pacific

In 2022, shipments abroad of cereal grains increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports saw notable growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, grain exports soared to $X in 2022. In general, exports saw a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Australia represented the main exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by India (X tons), mixing up a X% share of total exports. Myanmar (X tons) and Pakistan (X tons) followed a long way behind the leaders.

Exports from Australia increased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%), Pakistan (X%) and India (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Myanmar (X p.p.) and Australia (X p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest grain supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Myanmar, with a X% share.

In Australia, grain exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and Myanmar (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Myanmar ($X per ton) and Australia ($X per ton), while Pakistan ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced more modest paces of growth.

Grain Imports

Imports in Asia-Pacific

In 2022, purchases abroad of cereal grains decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, grain imports expanded rapidly to $X in 2022. Overall, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

China was the largest importer of cereal grains in Asia-Pacific, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Japan (X tons), South Korea (X tons), Vietnam (X tons), Indonesia (X tons), Bangladesh (X tons), the Philippines (X tons) and Taiwan (Chinese) (X tons), together committing a X% share of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%), Vietnam (X%), the Philippines (X%), Taiwan (Chinese) (X%), Indonesia (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. While the share of China (X p.p.), Vietnam (X p.p.), Bangladesh (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (X p.p.), Indonesia (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Vietnam, Indonesia, the Philippines, Taiwan (Chinese) and Bangladesh lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Bangladesh, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, grain import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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