Rising Supplies from Mexico Buoy the Growth of American Asparagus Imports
IndexBox has just published a new report: ‘U.S. – Asparagus – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
In 2020, asparagus imports into the U.S. rose by 2.5% y-o-y to 266K tonnes. Mexico and Peru lead the American imports with a combined 88%-share of its total volume. In the last year, Mexico ramped up shipments to America by +22.7% y-o-y, shaped by lower average prices. Peru experienced a drop in supplies volume to the U.S. while in value terms, they increased due to a spike in prices.
Asparagus Imports into the U.S. by Country
In 2020, the volume of asparagus imported into the U.S. totaled 266K tonnes, surging by 2.5% against 2019. In value terms, asparagus imports contracted to $720M (IndexBox estimates) in 2020.
Mexico and Peru dominate the American imports with a combined 88%-share of its total volume in physical terms. Mexico (170K tonnes) and Peru (94K tonnes) were the main suppliers of asparagus imports to the U.S. In value terms, Mexico ($385M) and Peru ($328M) constituted the largest asparagus suppliers to the U.S.
Mexico managed to ramp up supplies to America (by +22.7% y-o-y in physical terms) at low prices. At the same time, Peru saw import value growth of +21.5% y-o-y against reduced import volume.
The average asparagus import price stood at $2,707 per tonne in 2020, falling by -7.6% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Peru ($3,498 per tonne), while the price for Mexico amounted to $2,260 per tonne. In 2020, the most notable rate of growth in terms of prices was attained by Peru (+53.0% per year).
Source: IndexBox Platform