Asia-Pacific: Cereal Market 2024

Cereal Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific cereal market decreased by X% to $X.1B in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X.6B in 2021, and then dropped in the following year.

Cereal Production in Asia-Pacific

In value terms, cereal production shrank to $X.4B in 2022 estimated in export price. In general, production, however, saw a moderate increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked 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 comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Pakistan (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average cereal yield in Asia-Pacific amounted to X tons per ha, flattening at the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the yield increased by X% against the previous year. Over the period under review, the cereal yield hit record highs in 2022 and is likely to see gradual 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.

The cereal harvested area reduced modestly to X ha in 2022, approximately mirroring 2021 figures. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha, and then shrank in the following year.

Cereal Exports

Exports in Asia-Pacific

In 2022, overseas shipments of cereals increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports posted temperate growth. The pace of growth was the most pronounced 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 expected to retain growth in the near future.

In value terms, cereal exports surged to $X in 2022. Overall, exports enjoyed measured growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Australia was the major exporter of cereals in Asia-Pacific, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by India (X tons), creating a X% share of total exports. Myanmar (X tons) and Pakistan (X tons) took a little share of total exports.

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

From 2012 to 2022, the average annual growth rate of value in Australia amounted to X%. 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, rising 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.

Cereal Imports

Imports in Asia-Pacific

After three years of growth, purchases abroad of cereals decreased by X% to X tons in 2022. Total imports indicated strong growth 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 when imports increased by X%. As a result, imports reached the peak of X tons, and then dropped modestly in the following year.

In value terms, cereal imports expanded remarkably to $X in 2022. Overall, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China was the major importing country with an import of around X tons, which amounted to X% of total imports. Japan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%), Vietnam (X%), Indonesia (X%), Bangladesh (X%), the Philippines (X%) and Taiwan (Chinese) (X%).

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. From 2012 to 2022, the share of China, Vietnam, Bangladesh and the Philippines increased by X, X, X and X percentage points, respectively.

In value terms, the largest cereal importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. Vietnam, Indonesia, the Philippines, Taiwan (Chinese) and Bangladesh lagged somewhat behind, together comprising a further X%.

Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Import price indicated a slight expansion 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, cereal import price increased by X% against 2016 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: 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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