Updated Jan 11, 2023 07:10

Preserved Asparagus Market in Brazil

Market Overview
The Brazilian preserved asparagus market expanded notably to $ in , surging 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, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.

In value terms, preserved asparagus production rose sharply to $ in estimated in export price. Overall, the total production indicated a modest increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against indices. The growth pace was the most rapid in 2014 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2008; however, from 2009 to , production failed to regain momentum.


Consumption
In , the amount of preserved asparagus consumed in Brazil totaled tons, growing by % against the year before. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak volume of tons. From 2015 to , the growth of the consumption remained at a somewhat lower figure.

The size of the preserved asparagus market in Brazil reached $ in , increasing 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, saw a relatively flat trend pattern. Preserved asparagus consumption peaked at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.


Market Forecast
The preserved asparagus market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year 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
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
Brazil 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.