Updated Jan 11, 2023 07:09

Preserved Asparagus Market in Bangladesh

Market Overview
The Bangladeshi preserved asparagus market expanded slightly to $ in , picking up by % 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, showed a perceptible slump. As a result, consumption attained the peak level of $. From 2009 to , the growth of the market remained at a lower figure.

In value terms, preserved asparagus production stood at $ in estimated in export price. Over the period under review, production, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. As a result, production reached the peak level of $. From 2009 to , production growth remained at a lower figure.


Consumption
In , the amount of preserved asparagus consumed in Bangladesh expanded to tons, increasing by % compared with the previous year. Overall, consumption, however, showed a slight curtailment. As a result, consumption attained the peak volume of tons. From 2009 to , the growth of the consumption remained at a lower figure.

The revenue of the preserved asparagus market in Bangladesh stood at $ in , picking up by % 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). In general, consumption, however, showed a noticeable curtailment. As a result, consumption reached the peak level of $. From 2009 to , the growth of the market remained at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for preserved asparagus in Bangladesh, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract 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
Over the period under review, imports of preserved asparagus in Bangladesh were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for preserved asparagus. In , the share of imports in total consumption accounted for less than % in value terms and less than % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for less than % in value terms and less than % in physical terms. The share of imports increased moderately (less than percentage point) over the period under review.


Trade Balance
Bangladesh 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 kg, which was equal to $.