ASEAN: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in ASEAN

In 2023, the ASEAN market for broad beans and horse beans (dry) decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated a temperate 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. Based on 2023 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2022, and then contracted modestly in the following year.

Production of Broad Beans And Horse Beans (Dry) in ASEAN

In value terms, broad bean and horse bean production totaled $X in 2023 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Myanmar (X tons) constituted the country with the largest volume of broad bean and horse bean production, accounting for X% of total volume.

From 2012 to 2023, the average annual rate of growth in terms of volume in Myanmar totaled X%.

Exports of Broad Beans And Horse Beans (Dry)

Exports in ASEAN

Broad bean and horse bean exports surged to X tons in 2023, picking up by X% compared with 2022 figures. In general, exports, however, recorded a slight reduction. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, broad bean and horse bean exports soared to $X in 2023. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Myanmar represented the largest exporter of broad beans and horse beans (dry) in ASEAN, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by Vietnam (X tons) and Malaysia (X tons), together mixing up a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Myanmar ($X) emerged as the largest broad bean and horse bean supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

In Myanmar, broad bean and horse bean exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Export price indicated a mild expansion from 2012 to 2023: its price 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Broad Beans And Horse Beans (Dry)

Imports in ASEAN

In 2023, after two years of growth, there was significant decline in supplies from abroad of broad beans and horse beans (dry), when their volume decreased by X% to X tons. Total imports indicated moderate growth from 2012 to 2023: its volume 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 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then reduced in the following year.

In value terms, broad bean and horse bean imports dropped slightly to $X in 2023. Total imports 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Indonesia (X tons) and Vietnam (X tons) represented the key importers of broad beans and horse beans (dry) in ASEAN, together finishing at near X% of total imports. Thailand (X tons) took the next position in the ranking, distantly followed by Malaysia (X tons). All these countries together took near X% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest broad bean and horse bean importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Vietnam ($X), with a combined X% share of total imports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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

The import price in ASEAN stood at $X per ton in 2023, almost unchanged from the previous year. Over the period under review, the import price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2019 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.

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

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

Source: IndexBox Platform