Updated Jan 11, 2023 07:18

Preserved Asparagus Market in Indonesia

Market Overview
The Indonesian preserved asparagus market shrank modestly to $ in , therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted tangible growth. Preserved asparagus consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.

In value terms, preserved asparagus production declined modestly to $ in estimated in export price. In general, production, however, enjoyed a pronounced increase. The pace of growth was the most pronounced in 2018 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2019; however, from to , production remained at a lower figure.


Consumption
In , the amount of preserved asparagus consumed in Indonesia fell slightly to tons, approximately equating the previous year. The total consumption volume increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved asparagus consumption peaked at tons in 2019; however, from to , consumption remained at a lower figure.

The revenue of the preserved asparagus market in Indonesia contracted modestly to $ in , almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, enjoyed a measured expansion. Preserved asparagus consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by increasing demand for preserved asparagus in Indonesia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Indonesia remains a net importer of preserved asparagus; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.