Australia and Oceania: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Australia and Oceania

In 2023, the lucerne meal and pellets market in Australia and Oceania decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in Australia and Oceania

In value terms, lucerne meal and pellets production dropped to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in Australia and Oceania

Lucerne meal and pellets exports dropped to X tons in 2023, declining by X% compared with the previous year's figure. Overall, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, lucerne meal and pellets exports contracted dramatically to $X in 2023. In general, exports recorded a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

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

Australia was also the fastest-growing in terms of the lucerne (alfalfa) meal and pellets exports, with a CAGR of X% from 2012 to 2023. Australia (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest lucerne meal and pellets supplier in Australia and Oceania.

From 2012 to 2023, the average annual growth rate of value in Australia totaled X%.

Export Prices by Country

In 2023, the export price in Australia and Oceania amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2023, the export prices stood 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 Lucerne (Alfalfa) Meal And Pellets

Imports in Australia and Oceania

After two years of growth, purchases abroad of lucerne (alfalfa) meal and pellets decreased by X% to X tons in 2023. In general, imports, however, recorded prominent growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, lucerne meal and pellets imports reduced rapidly to $X in 2023. Overall, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then shrank rapidly in the following year.

Imports by Country

New Zealand prevails in imports structure, reaching X tons, which was near X% of total imports in 2023. It was distantly followed by New Caledonia (X tons), constituting a X% share of total imports. French Polynesia (X tons) held a minor share of total imports.

New Zealand was also the fastest-growing in terms of the lucerne (alfalfa) meal and pellets imports, with a CAGR of X% from 2012 to 2023. New Caledonia (X%) and French Polynesia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of New Zealand increased by X percentage points.

In value terms, New Zealand ($X) constitutes the largest market for imported lucerne (alfalfa) meal and pellets in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Caledonia ($X), with a X% share of total imports.

In New Zealand, lucerne meal and pellets imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: New Caledonia (X% per year) and French Polynesia (X% per year).

Import Prices by Country

In 2023, the import price in Australia and Oceania amounted to $X per ton, with an increase of X% against the previous year. In general, the import price showed strong growth. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices hit record highs in 2023 and is likely to see gradual growth in the near future.

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 New Zealand ($X per ton), while New Caledonia ($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 mixed trends in the import price figures.

Source: IndexBox Platform