Eastern Asia: Dry Bean Market 2024

Dry Bean Market Size in Eastern Asia

In 2023, the East Asian dry bean market decreased by X% to $X for the first time since 2011, thus ending a eleven-year rising trend. In general, consumption, however, showed a prominent increase. The level of consumption peaked at $X in 2022, and then shrank in the following year.

Dry Bean Production in Eastern Asia

In value terms, dry bean production stood at $X in 2023 estimated in export price. The total production indicated a buoyant 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 2021 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of dry bean production, accounting for X% of total volume. Moreover, dry bean production in China exceeded the figures recorded by the second-largest producer, Democratic People's Republic of Korea (X tons), fourfold.

In China, dry bean production 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: Democratic People's Republic of Korea (X% per year) and Japan (X% per year).

The average dry bean yield reduced to X tons per ha in 2023, approximately equating the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the yield reached the peak level of X tons per ha; afterwards, it flattened through to 2023. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the dry bean harvested area in Eastern Asia stood at X ha, flattening at the previous year's figure. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2019; afterwards, it flattened through to 2023.

Dry Bean Exports

Exports in Eastern Asia

In 2023, overseas shipments of beans (dry) were finally on the rise to reach X tons for the first time since 2016, thus ending a six-year declining trend. In general, exports, however, recorded a deep downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, dry bean exports expanded modestly to $X in 2023. Overall, exports, however, showed a abrupt setback. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of beans (dry), namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the beans (dry) exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest dry bean supplier in Eastern Asia.

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. Export price indicated temperate growth 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. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then declined markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Dry Bean Imports

Imports in Eastern Asia

In 2023, after six years of growth, there was significant decline in supplies from abroad of beans (dry), when their volume decreased by X% to X tons. In general, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, dry bean imports declined notably to $X in 2023. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then declined notably in the following year.

Imports by Country

China was the largest importer of beans (dry) in Eastern Asia, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together held near X% share of total imports. Taiwan (Chinese) (X tons) took a little share of total imports.

China was also the fastest-growing in terms of the beans (dry) imports, with a CAGR of X% from 2012 to 2023. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Taiwan (Chinese) (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported beans (dry) in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, dry bean imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price continues to indicate a mild descent. The pace of growth was the most pronounced in 2014 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform