Price for Vegetable Products Not Elsewhere Specified or Included in China - 2024
Contents:
- Price for Vegetable Products Not Elsewhere Specified or Included in China (CIF) - 2024
- Price for Vegetable Products Not Elsewhere Specified or Included in China (FOB) - 2022
- Imports of Vegetable Products Not Elsewhere Specified or Included in China
- Exports of Vegetable Products Not Elsewhere Specified or Included in China
Price for Vegetable Products Not Elsewhere Specified or Included in China (CIF) - 2024
In September 2023, the average import price for vegetable products not elsewhere specified or includeds amounted to $323 per ton, with an increase of 4.8% against the previous month. Overall, the import price, however, continues to indicate a mild reduction. The growth pace was the most rapid in May 2023 an increase of 15% month-to-month. The import price peaked at $349 per ton in March 2023; however, from April 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Turkey ($494 per ton), while the price for the Philippines ($62.0 per ton) was amongst the lowest.
From February 2023 to September 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.7%), while the prices for the other major suppliers experienced a decline.
Price for Vegetable Products Not Elsewhere Specified or Included in China (FOB) - 2022
In 2022, the average export price for vegetable products not elsewhere specified or includeds amounted to $1,117 per ton, dropping by -7.4% against the previous year. In general, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of 306%. As a result, the export price reached the peak level of $3,212 per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($2,865 per ton), while the average price for exports to South Korea ($611 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Vegetable Products Not Elsewhere Specified or Included in China
In 2022, imports of vegetable products not elsewhere specified or includeds into China dropped notably to 424K tons, with a decrease of -19.4% against the year before. In general, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 40% against the previous year. As a result, imports attained the peak of 525K tons, and then fell rapidly in the following year.
In value terms, imports of vegetable products not elsewhere specified or includeds contracted to $176M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +12.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 74% against the previous year. As a result, imports reached the peak of $193M, and then reduced in the following year.
| Import of Vegetable Products Not Elsewhere Specified or Included in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 32.4 | 28.2 | 56.7 | 46.0 | 12.4% |
| Peru | 14.9 | 17.3 | 27.2 | 26.5 | 21.2% |
| Turkey | 8.0 | 5.0 | 19.9 | 16.0 | 26.0% |
| Sri Lanka | 2.6 | 5.0 | 12.6 | 15.2 | 80.1% |
| Brazil | 2.6 | 6.9 | 13.3 | 10.4 | 58.7% |
| Turkmenistan | 5.1 | 1.2 | 7.9 | 6.9 | 10.6% |
| Philippines | 3.3 | 4.4 | 7.0 | 6.6 | 26.0% |
| United States | 1.5 | 6.0 | 8.5 | 6.4 | 62.2% |
| Malaysia | 31.4 | 15.6 | 9.4 | 5.5 | -44.0% |
| Indonesia | 4.0 | 3.6 | 3.6 | 3.7 | -2.6% |
| Vietnam | 0.4 | 0.5 | 0.6 | 2.7 | 89.0% |
| Others | 18.2 | 17.2 | 26.2 | 29.7 | 17.7% |
| Total | 124 | 111 | 193 | 176 | 12.4% |
Top Suppliers of Vegetable Products Not Elsewhere Specified or Included to China in 2022:
- India (103.4K tons)
- Philippines (92.8K tons)
- Malaysia (45.1K tons)
- Sri Lanka (37.8K tons)
- Turkey (25.6K tons)
- Brazil (19.3K tons)
- Peru (17.3K tons)
- Vietnam (17.1K tons)
- Turkmenistan (14.1K tons)
- United States (9.4K tons)
- Indonesia (8.0K tons)
Exports of Vegetable Products Not Elsewhere Specified or Included in China
For the fourth year in a row, China recorded growth in shipments abroad of vegetable products not elsewhere specified or includeds, which increased by 74% to 136K tons in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 110%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of vegetable products not elsewhere specified or includeds surged to $152M in 2022. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Vegetable Products Not Elsewhere Specified or Included in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 3.5 | 8.3 | 13.6 | 23.7 | 89.2% |
| Japan | 17.3 | 14.7 | 16.3 | 18.9 | 3.0% |
| Taiwan (Chinese) | 1.9 | 5.9 | 8.8 | 14.9 | 98.7% |
| Thailand | 1.3 | 1.3 | 3.0 | 12.3 | 111.5% |
| Hong Kong SAR | 2.2 | 4.0 | 6.4 | 10.1 | 66.2% |
| Malaysia | 0.7 | 2.5 | 4.8 | 7.9 | 124.3% |
| Russia | 0.8 | 1.4 | 2.3 | 6.8 | 104.1% |
| Germany | 2.4 | 4.3 | 6.7 | 5.2 | 29.4% |
| Australia | 0.7 | 1.3 | 2.2 | 4.2 | 81.7% |
| Italy | 1.1 | 1.1 | 2.2 | 3.3 | 44.2% |
| Singapore | 0.6 | 1.5 | 2.5 | 3.0 | 71.0% |
| Indonesia | N/A | 0.1 | 0.5 | 2.9 | 438.5% |
| Vietnam | N/A | 0.3 | 0.6 | 2.3 | 176.9% |
| Others | 18.4 | 23.9 | 25.3 | 37.2 | 26.4% |
| Total | 51.0 | 70.7 | 95.2 | 152 | 43.9% |
Top Export Markets for Vegetable Products Not Elsewhere Specified or Included from China in 2022:
- South Korea (38.7K tons)
- Taiwan (Chinese) (16.4K tons)
- Hong Kong SAR (11.6K tons)
- Thailand (11.3K tons)
- Malaysia (9.4K tons)
- Russia (8.1K tons)
- Japan (6.6K tons)
- Australia (4.4K tons)
- Indonesia (3.7K tons)
- Germany (3.6K tons)
- Singapore (2.8K tons)
- Italy (2.4K tons)
- Vietnam (2.2K tons)
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