Australia and Oceania: Vegetable Product Market 2024

Vegetable Product Market Size in Australia and Oceania

The vegetable product market in Australia and Oceania dropped slightly to $X in 2023, remaining relatively unchanged against the previous year. The total consumption indicated a notable 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, consumption decreased by X% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Vegetable Product Production in Australia and Oceania

In value terms, vegetable product production declined to $X in 2023 estimated in export price. The total production indicated a measured 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, production decreased by X% against 2017 indices. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Australia (X tons) constituted the country with the largest volume of vegetable product production, accounting for X% of total volume. Moreover, vegetable product production in Australia exceeded the figures recorded by the second-largest producer, Fiji (X tons), more than tenfold.

From 2012 to 2023, the average annual rate of growth in terms of volume in Australia stood at X%.

The average vegetable product yield totaled X tons per ha in 2023, approximately equating 2022. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2023, the 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 vegetable product harvested area in Australia and Oceania expanded modestly to X ha, with an increase of X% on the previous year's figure. In general, the harvested area saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to vegetable product production attained the maximum at X ha in 2017; however, from 2018 to 2023, the harvested area failed to regain momentum.

Vegetable Product Exports

Exports in Australia and Oceania

In 2023, overseas shipments of vegetable products increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, exports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, vegetable product exports skyrocketed to $X in 2023. Over the period under review, exports, however, continue to indicate a slight descent. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

New Zealand was the largest exporting country with an export of around X tons, which amounted to X% of total exports. Australia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by French Polynesia (X%). Fiji (X tons) and Papua New Guinea (X tons) followed a long way behind the leaders.

New Zealand was also the fastest-growing in terms of the vegetable products exports, with a CAGR of X% from 2012 to 2023. At the same time, Australia (X%) and Papua New Guinea (X%) displayed positive paces of growth. By contrast, French Polynesia (X%) and Fiji (X%) illustrated a downward trend over the same period. While the share of New Zealand (X p.p.), Australia (X p.p.) and Papua New Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of French Polynesia (X p.p.) and Fiji (X p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) remains the largest vegetable product supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by French Polynesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in New Zealand totaled X%. In the other countries, the average annual rates were as follows: Australia (X% per year) and French Polynesia (X% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then declined in the following year.

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 New Zealand ($X per ton), while French Polynesia ($X per ton) was amongst the lowest.

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

Vegetable Product Imports

Imports in Australia and Oceania

In 2023, overseas purchases of vegetable products decreased by X% to X tons, falling for the second consecutive year after four years of growth. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, vegetable product imports fell to $X in 2023. Total imports indicated a buoyant expansion 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. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of import peaked at $X in 2022, and then dropped in the following year.

Imports by Country

Australia represented the largest importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by New Zealand (X tons) and Kiribati (X tons), together comprising a X% share of total imports.

Imports into Australia increased at an average annual rate of X% from 2012 to 2023. At the same time, Kiribati (X%) and New Zealand (X%) displayed positive paces of growth. Moreover, Kiribati emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of New Zealand and Kiribati increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable product importing markets in Australia and Oceania were Australia ($X), New Zealand ($X) and Kiribati ($X), together comprising X% of total imports.

Among the main importing countries, New Zealand, with a CAGR of X%, saw 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

The import price in Australia and Oceania stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price continues to indicate a mild shrinkage. The growth pace was the most rapid in 2022 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform