Updated Jan 11, 2023 07:27

Preserved Asparagus Market in Russia

Market Overview
The Russian preserved asparagus market dropped slightly to $ in , shrinking 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). Over the period under review, consumption, however, showed a mild decline. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.

In value terms, preserved asparagus production fell modestly to $ in estimated in export price. In general, production, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2016 with an increase of %. Preserved asparagus production peaked at $ in 2008; however, from 2009 to , production failed to regain momentum.


Consumption
In , approx. tons of preserved asparagus were consumed in Russia; with an increase of % against . Overall, consumption, however, showed a slight slump. Over the period under review, consumption hit record highs at tons in 2008; however, from 2009 to , consumption failed to regain momentum.

The value of the preserved asparagus market in Russia contracted modestly to $ in , dropping 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). Over the period under review, consumption, however, saw a slight setback. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for preserved asparagus in Russia, 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 Russia 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 % in value terms and % 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 % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Russia 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 $.