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Asia’s Beeswax Market Is Estimated at $206M in 2018, an Increase of 3.4%

beeswax

Asia’s Beeswax Market Is Estimated at $206M in 2018, an Increase of 3.4%

IndexBox has just published a new report: ‘Asia – Beeswax – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the beeswax market in Asia amounted to $206M in 2018, increasing by 3.4% 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). The total market indicated a moderate increase from 2007 to 2018: its value increased at an average annual rate of +0.7% over the last eleven years.

Consumption By Country in Asia

The country with the largest volume of beeswax consumption was India (26K tonnes), accounting for 64% of total consumption. Moreover, beeswax consumption in India exceeded the figures recorded by the region’s second-largest consumer, Turkey (4.9K tonnes), fivefold. The third position in this ranking was occupied by South Korea (3.7K tonnes), with a 9.1% share.

In India, beeswax consumption expanded at an average annual rate of +2.6% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Turkey (+1.9% per year) and South Korea (-1.1% per year).

In value terms, India ($127M) led the market, alone. The second position in the ranking was occupied by Turkey ($42M). It was followed by South Korea.

The countries with the highest levels of beeswax per capita consumption in 2018 were South Korea (73 kg per 1000 persons), Turkey (59 kg per 1000 persons) and Malaysia (39 kg per 1000 persons).

From 2007 to 2018, the most notable rate of growth in terms of beeswax per capita consumption, amongst the main consuming countries, was attained by Japan, while the other leaders experienced more modest paces of growth.

Market Forecast 2019-2025 in Asia

Driven by increasing demand for beeswax in Asia, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.2% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 42K tonnes by the end of 2025.

Production in Asia

In 2018, approx. 50K tonnes of beeswax were produced in Asia; remaining stable against the previous year. The total output volume increased at an average annual rate of +1.3% from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 when production volume increased by 5.6% against the previous year. Over the period under review, beeswax production reached its peak figure volume in 2018 and is likely to continue its growth in the immediate term.

In value terms, beeswax production stood at $292M in 2018 estimated in export prices. Over the period under review, beeswax production continues to indicate prominent growth. The growth pace was the most rapid in 2011 with an increase of 25% against the previous year. Over the period under review, beeswax production attained its peak figure level at $392M in 2014; however, from 2015 to 2018, production failed to regain its momentum.

Production By Country in Asia

India (24K tonnes) remains the largest beeswax producing country in Asia, comprising approx. 49% of total production. Moreover, beeswax production in India exceeded the figures recorded by the region’s second-largest producer, China (11K tonnes), twofold. Turkey (4.5K tonnes) ranked third in terms of total production with a 9% share.

In India, beeswax production increased at an average annual rate of +2.0% over the period from 2007-2018. In the other countries, the average annual rates were as follows: China (+0.5% per year) and Turkey (+1.4% per year).

Exports in Asia

The exports totaled 14K tonnes in 2018, surging by 8.1% against the previous year. The total exports indicated a strong increase from 2007 to 2018: its volume increased at an average annual rate of +6.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beeswax exports increased by +9.1% against 2016 indices. The pace of growth appeared the most rapid in 2010 when exports increased by 26% year-to-year. The volume of exports peaked in 2018 and are expected to retain its growth in the near future.

In value terms, beeswax exports amounted to $79M (IndexBox estimates) in 2018. In general, beeswax exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2010 with an increase of 34% y-o-y. The level of exports peaked at $80M in 2015; however, from 2016 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, China (9.7K tonnes) represented the major exporter of beeswax, committing 69% of total exports. It was distantly followed by Malaysia (1,970 tonnes) and Viet Nam (1,494 tonnes), together committing a 25% share of total exports. India (339 tonnes) held a little share of total exports.

Exports from China increased at an average annual rate of +5.3% from 2007 to 2018. At the same time, Viet Nam (+19.6%), India (+15.2%) and Malaysia (+8.8%) displayed positive paces of growth. Moreover, Viet Nam emerged as the fastest-growing exporter in Asia, with a CAGR of +19.6% from 2007-2018. China (+30 p.p.), Viet Nam (+9.2 p.p.), Malaysia (+8.5 p.p.) and India (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($61M) remains the largest beeswax supplier in Asia, comprising 77% of total beeswax exports. The second position in the ranking was occupied by Viet Nam ($12M), with a 15% share of total exports. It was followed by India, with a 2% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China stood at +10.9%. In the other countries, the average annual rates were as follows: Viet Nam (+24.8% per year) and India (+15.5% per year).

Export Prices by Country

The beeswax export price in Asia stood at $5,595 per tonne in 2018, going up by 1.8% against the previous year. The export price indicated a buoyant increase from 2007 to 2018: its price increased at an average annual rate of +4.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beeswax export price decreased by -5.3% against 2015 indices. The growth pace was the most rapid in 2012 when the export price increased by 20% y-o-y. Over the period under review, the export prices for beeswax reached their maximum at $5,910 per tonne in 2015; however, from 2016 to 2018, export prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Viet Nam ($7,731 per tonne), while Malaysia ($670 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Imports in Asia

In 2018, approx. 5.5K tonnes of beeswax were imported in Asia; stabilizing at the previous year. Overall, beeswax imports continue to indicate remarkable growth. The most prominent rate of growth was recorded in 2010 when imports increased by 40% against the previous year. The volume of imports peaked in 2018 and are likely to see steady growth in the near future.

In value terms, beeswax imports totaled $28M (IndexBox estimates) in 2018. In general, beeswax imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2010 when imports increased by 47% year-to-year. Over the period under review, beeswax imports reached their maximum in 2018 and are expected to retain its growth in the immediate term.

Imports by Country

India represented the major importing country with an import of around 2.2K tonnes, which resulted at 40% of total imports. Japan (889 tonnes) took the second position in the ranking, followed by China (557 tonnes), Turkey (405 tonnes) and South Korea (357 tonnes). All these countries together took approx. 40% share of total imports. Pakistan (186 tonnes), Thailand (181 tonnes) and Taiwan, Chinese (93 tonnes) followed a long way behind the leaders.

India was also the fastest-growing in terms of the beeswax imports, with a CAGR of +23.1% from 2007 to 2018. At the same time, China (+20.6%), Pakistan (+14.2%), Turkey (+9.8%), Thailand (+5.9%) and Taiwan, Chinese (+1.8%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-2.4%) illustrated a downward trend over the same period. India (+36 p.p.), China (+8.9 p.p.), Turkey (+4.7 p.p.), Pakistan (+2.6 p.p.), Japan (+1.6 p.p.) and Thailand (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by -2% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest beeswax importing markets in Asia were Japan ($8.2M), China ($5.5M) and South Korea ($2.9M), with a combined 60% share of total imports.

China recorded the highest growth rate of imports, among the main importing countries over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The beeswax import price in Asia stood at $5,033 per tonne in 2018, remaining stable against the previous year. Over the last eleven years, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2014 when the import price increased by 35% y-o-y. In that year, the import prices for beeswax attained their peak level of $5,431 per tonne. From 2015 to 2018, the growth in terms of the import prices for beeswax remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China ($9,919 per tonne), while India ($1,098 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

grapefruit

Grapefruit Market in Asia – Japan Halved Grapefruit Imports Over the Last Decade

IndexBox has just published a new report: ‘Asia – Grapefruits (Inc. Pomelos) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the grapefruit market in Asia amounted to $6.4B in 2018, picking up by 6.1% 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, grapefruit consumption continues to indicate strong growth. The pace of growth appeared the most rapid in 2015 when the market value increased by 18% y-o-y. Over the period under review, the grapefruit market reached its maximum level in 2018 and is expected to retain its growth in the near future.

Consumption By Country in Asia

China (4.8M tonnes) remains the largest grapefruit consuming country in Asia, comprising approx. 72% of total consumption. Moreover, grapefruit consumption in China exceeded the figures recorded by the region’s second-largest consumer, Viet Nam (611K tonnes), eightfold. India (377K tonnes) ranked third in terms of total consumption with a 5.6% share.

In China, grapefruit consumption increased at an average annual rate of +7.5% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Viet Nam (+5.5% per year) and India (+7.1% per year).

In value terms, China ($4.5B) led the market, alone. The second position in the ranking was occupied by Viet Nam ($707M). It was followed by Thailand.

The countries with the highest levels of grapefruit per capita consumption in 2018 were Viet Nam (6,331 kg per 1000 persons), China (3,340 kg per 1000 persons) and Thailand (3,267 kg per 1000 persons).

From 2007 to 2018, the most notable rate of growth in terms of grapefruit per capita consumption, amongst the main consuming countries, was attained by China, while the other leaders experienced more modest paces of growth.

Market Forecast 2019-2025 in Asia

Driven by increasing demand for grapefruit in Asia, the market is expected to continue an upward consumption trend over the next seven years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.7% for the seven-year period from 2018 to 2025, which is projected to bring the market volume to 8.7M tonnes by the end of 2025.

Production in Asia

The grapefruit production stood at 7M tonnes in 2018, growing by 6.4% against the previous year. The total output indicated a remarkable increase from 2007 to 2018: its volume increased at an average annual rate of +5.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, grapefruit production increased by +81.9% against 2007 indices. The pace of growth appeared the most rapid in 2015 when production volume increased by 12% y-o-y. Over the period under review, grapefruit production reached its maximum volume in 2018 and is expected to retain its growth in the immediate term. The general positive trend in terms of grapefruit output was largely conditioned by a resilient increase of the harvested area and temperate growth in yield figures.

In value terms, grapefruit production stood at $6.9B in 2018 estimated in export prices. Overall, grapefruit production continues to indicate a strong increase. The growth pace was the most rapid in 2015 when production volume increased by 18% against the previous year. The level of grapefruit production peaked in 2018 and is expected to retain its growth in the immediate term.

Production By Country in Asia

The country with the largest volume of grapefruit production was China (5M tonnes), accounting for 71% of total production. Moreover, grapefruit production in China exceeded the figures recorded by the region’s second-largest producer, Viet Nam (598K tonnes), eightfold. The third position in this ranking was occupied by India (377K tonnes), with a 5.4% share.

From 2007 to 2018, the average annual rate of growth in terms of volume in China amounted to +7.5%. In the other countries, the average annual rates were as follows: Viet Nam (+5.3% per year) and India (+7.1% per year).

Harvested Area in Asia

In 2018, the total area harvested in terms of grapefruits production in Asia stood at 220K ha, going up by 3.7% against the previous year. The harvested area increased at an average annual rate of +2.8% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 18% year-to-year. The level of grapefruit harvested area peaked at 226K ha in 2016; however, from 2017 to 2018, harvested area stood at a somewhat lower figure.

Yield in Asia

The average grapefruit yield amounted to 32 tonne per ha in 2018, jumping by 2.6% against the previous year. The yield figure increased at an average annual rate of +2.7% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when yield increased by 9.6% against the previous year. The level of grapefruit yield peaked in 2018 and is expected to retain its growth in the immediate term.

Exports in Asia

In 2018, the amount of grapefruits exported in Asia amounted to 525K tonnes, jumping by 21% against the previous year. The total export volume increased at an average annual rate of +5.6% over the period from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 when exports increased by 23% year-to-year. Over the period under review, grapefruit exports reached their maximum in 2018 and are likely to see steady growth in the near future.

In value terms, grapefruit exports totaled $449M (IndexBox estimates) in 2018. The total exports indicated a strong expansion from 2007 to 2018: its value increased at an average annual rate of +5.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, grapefruit exports increased by +15.7% against 2014 indices. The pace of growth was the most pronounced in 2008 with an increase of 21% y-o-y. Over the period under review, grapefruit exports reached their maximum in 2018 and are likely to continue its growth in the immediate term.

Exports by Country

In 2018, China (211K tonnes) and Turkey (182K tonnes) were the major exporters of grapefruits in Asia, together recording near 75% of total exports. It was distantly followed by Israel (88K tonnes), achieving a 17% share of total exports. China, Hong Kong SAR (16K tonnes) and Cyprus (8.3K tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

In value terms, the largest grapefruit markets in Asia were China ($200M), Turkey ($119M) and Israel ($87M), with a combined 91% share of total exports. These countries were followed by China, Hong Kong SAR and Cyprus, which together accounted for a further 4%.

Among the main exporting countries, China, Hong Kong SAR recorded the highest rates of growth with regard to exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The grapefruit export price in Asia stood at $855 per tonne in 2018, waning by -3.7% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2017 when the export price increased by 10% y-o-y. In that year, the export prices for grapefruits attained their peak level of $888 per tonne, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Israel ($995 per tonne), while Cyprus ($585 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Imports in Asia

In 2018, the amount of grapefruits imported in Asia totaled 272K tonnes, surging by 24% against the previous year. In general, grapefruit imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 24% y-o-y. Over the period under review, grapefruit imports reached their maximum at 280K tonnes in 2010; however, from 2011 to 2018, imports failed to regain their momentum.

In value terms, grapefruit imports amounted to $232M (IndexBox estimates) in 2018. Over the period under review, grapefruit imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 15% y-o-y. The level of imports peaked at $236M in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, Japan (85K tonnes), distantly followed by China (45K tonnes), Saudi Arabia (34K tonnes), South Korea (23K tonnes), China, Hong Kong SAR (23K tonnes) and Viet Nam (15K tonnes) were the largest importers of grapefruits, together comprising 83% of total imports. Iraq (11K tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Viet Nam (+115.4% per year), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($64M), China ($60M) and South Korea ($32M) were the countries with the highest levels of imports in 2018, with a combined 67% share of total imports. China, Hong Kong SAR, Saudi Arabia, Viet Nam and Iraq lagged somewhat behind, together accounting for a further 21%.

Viet Nam (+99.6% per year) experienced the highest rates of growth with regard to imports, in terms of the main importing countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The grapefruit import price in Asia stood at $853 per tonne in 2018, dropping by -8.6% against the previous year. Overall, the grapefruit import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 12% against the previous year. In that year, the import prices for grapefruits reached their peak level of $933 per tonne, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($1,420 per tonne), while Iraq ($323 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Asia’s Fish Fillet Market – China’s Export Share Exceeded 50%

IndexBox has just published a new report: ‘Asia – Frozen Fish Fillet – Market Analysis, Forecast, Size, Trends and Insights.’ Here is a summary of the report’s key findings.

The revenue of the frozen fish fillet market in Asia amounted to $3.9B in 2017, growing by 4.9% 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). The market value increased at an average annual rate of +1.9% over the period from 2007 to 2017; the trend pattern indicated some noticeable fluctuations being recorded in certain years.

The growth pace was the most rapid in 2009, when the market value increased by 35% against the previous year. Over the period under review, the frozen fish fillet market attained its peak figure level at $4.6B in 2011; however, from 2012 to 2017, consumption remained at a lower figure.

Production in Asia

In 2017, production of frozen fish fillet in Asia amounted to 1.9M tonnes, remaining relatively unchanged against the previous year. The total output volume increased at an average annual rate of +1.6% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period.

Exports in Asia

The exports totaled 1.7M tonnes in 2017, flattening at the previous year. The total export volume increased at an average annual rate of +3.5% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years.

In value terms, frozen fish fillet exports amounted to $7B (IndexBox estimates) in 2017.

Exports by Country

China was the main exporting country with an export of around 901K tonnes, which accounted for 53% of total exports. It was distantly followed by Vietnam (597K tonnes), constituting 35% share of total exports. The following exporters – Indonesia (43K tonnes) and Thailand (27K tonnes) – together made up 4.2% of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, China ($4B) remains the largest frozen fish fillet supplier in Asia, comprising 57% of total frozen fish fillet exports. The second position in the ranking was occupied by Vietnam ($1.6B), with a 23% share of total exports. It was followed by Indonesia, with a 3.8% share.

Export Prices by Country

In 2017, the frozen fish fillet export price in Asia amounted to $4,130 per tonne, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2008, an increase of 14% against the previous year. Over the period under review, the export prices for frozen fish fillet attained their maximum at $4,486 per tonne in 2011; however, from 2012 to 2017, export prices failed to regain their momentum.

Export prices varied noticeably by the country of origin; the country with the highest export price was Thailand ($7,128 per tonne), while Vietnam ($2,629 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by Thailand, while the other leaders experienced more modest paces of growth.

Imports in Asia

In 2017, imports of frozen fish fillet in Asia totaled 864K tonnes, picking up by 4.2% against the previous year. The total imports indicated a strong growth from 2007 to 2017: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, the frozen fish fillet imports increased by +93.6% against 2007 indices.

In value terms, frozen fish fillet imports amounted to $3.5B (IndexBox estimates) in 2017.

Imports by Country

Japan dominates frozen fish fillet imports structure, amounting to 524K tonnes, which was approx. 61% of total imports in 2017. It was distantly followed by China (56K tonnes), comprising 6.4% share of total imports. Israel (39K tonnes), South Korea (38K tonnes), the Philippines (26K tonnes), China, Hong Kong SAR (25K tonnes), Singapore (21K tonnes), Malaysia (19K tonnes), Iran (14K tonnes), Taiwan, Chinese (14K tonnes), Saudi Arabia (14K tonnes) and Vietnam (14K tonnes) followed a long way behind the leaders.

From 2007 to 2017, average annual rates of growth with regard to frozen fish fillet imports into Japan stood at +5.8%. At the same time, the Philippines (+60.0%), Taiwan, Chinese (+24.6%), Vietnam (+21.3%), China (+20.3%), Singapore (+18.5%), Iran (+18.0%), Malaysia (+15.3%), Saudi Arabia (+10.8%), China, Hong Kong SAR (+1.4%), Israel (+1.2%) and South Korea (+1.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest growing importer in Asia, with a CAGR of +60.0% from 2007-2017. Malaysia (-1.6%), Singapore (-2%), the Philippines (-3%), China (-5.4%) and Japan (-26.2%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($2.1B) constitutes the largest market for imported frozen fish fillet in Asia, comprising 61% of total frozen fish fillet imports. The second position in the ranking was occupied by South Korea ($233M), with a 6.7% share of total imports. It was followed by Israel, with a 6.1% share.

Import Prices by Country

In 2017, the frozen fish fillet import price in Asia amounted to $3,996 per tonne, surging by 8.9% against the previous year. Overall, the frozen fish fillet import price, however, continues to indicate a relatively flat trend pattern.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was Taiwan, Chinese ($6,346 per tonne), while the Philippines ($1,515 per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Asia’s Apple Market: China Dominates Exports Despite a Slight Contraction

IndexBox has just published a new report: ‘Asia – Apple – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2018, the apple market size in Asia amounted to $62.1B (in wholesale price). The total market indicated a strong increase from 2008 to 2018: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the apple consumption increased by +16.7% against 2014 indices. The pace of growth was the most pronounced in 2014, when the market value increased by 24% against the previous year. Over the period under review, the apple market reached its maximum level in 2018, and is likely to see steady growth in the near future.

Production in Asia

In 2018, the amount of apples produced in Asia amounted to 56M tonnes, going up by 3.5% against the previous year. The total output volume increased at an average annual rate of +3.0% over the period from 2008 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2011, when the output figure increased by 9% y-o-y. The volume of apple production peaked in 2018, and is likely to continue its growth in the near future.

The general positive trend in terms of apple output was largely conditioned by a noticeable expansion of the harvested area and a modest growth in yield figures.

Exports in Asia

In 2018, approx. 1.3M tonnes of apples were exported in Asia; lowering by -3.7% against the previous year. Over the period under review, apple exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013, when exports increased by 26% y-o-y. In that year, apple exports attained their peak of 1.7M tonnes. From 2014 to 2018, the growth of apple exports failed to regain its momentum.

In value terms, apple exports amounted to $1.3B (IndexBox estimates) in 2018. The total export value increased at an average annual rate of +4.1% over the period from 2008 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016, when exports increased by 21% year-to-year. In that year, apple exports attained their peak of $1.4B. From 2017 to 2018, the growth of apple exports failed to regain its momentum.

Exports by Country

China dominates apple exports structure, accounting for 701K tonnes, which was near 55% of total exports in 2018. Turkey (108K tonnes) ranks second in terms of the total exports with a 8.5% share, followed by Iran (8.5%) and Azerbaijan (7.1%). China, Hong Kong SAR (39K tonnes), Afghanistan (38K tonnes), Lebanon (37K tonnes), Japan (34K tonnes), Syrian Arab Republic (20K tonnes) and Israel (20K tonnes) followed a long way behind the leaders.

From 2008 to 2018, average annual rates of growth with regard to apple exports from China stood at -3.3%. At the same time, Turkey (+25.7%), Afghanistan (+16.6%), Iran (+8.7%), Israel (+6.7%) and China, Hong Kong SAR (+1.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest growing exporter in Asia, with a CAGR of +25.7% from 2008-2018. Japan and Lebanon experienced a relatively flat trend pattern. By contrast, Azerbaijan (-3.0%) and Syrian Arab Republic (-4.5%) illustrated a downward trend over the same period. While the share of China (22%) and Azerbaijan (2.6%) increased significantly in terms of the global exports from 2008-2018, the share of Afghanistan (-2.3%), Iran (-4.8%) and Turkey (-7.6%) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($845M) remains the largest apple supplier in Asia, comprising 67% of total apple exports. The second position in the ranking was occupied by Turkey ($79M), with a 6.2% share of total exports. It was followed by Iran, with a 5.1% share.

Export Prices by Country

The apple export price in Asia stood at $1,001 per tonne in 2018, going up by 10% against the previous year. The export price indicated a remarkable growth from 2008 to 2018: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the apple export price increased by +37.4% against 2013 indices. The growth pace was the most rapid in 2014, when the export price increased by 22% year-to-year. The level of export price peaked in 2018, and is expected to retain its growth in the near future.

Export prices varied noticeably by the country of origin; the country with the highest export price was Israel ($1,530 per tonne), while Azerbaijan ($423 per tonne) was amongst the lowest. From 2008 to 2018, the most notable rate of growth in terms of export prices was attained by Afghanistan, while the other leaders experienced more modest paces of growth.

Imports in Asia

In 2018, apple imports in Asia totaled 2.4M tonnes, lowering by -17.3% against the previous year. The total import volume increased at an average annual rate of +3.3% over the period from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015, when imports increased by 14% y-o-y. The volume of imports peaked at 2.9M tonnes in 2017, and then declined slightly in the following year.

In value terms, apple imports amounted to $2.3B (IndexBox estimates) in 2018. The total imports indicated a prominent expansion from 2008 to 2018: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010, with an increase of 18% year-to-year. The level of imports peaked at $2.7B in 2017, and then declined slightly in the following year.

Imports by Country

In 2018, India (267K tonnes), Taiwan, Chinese (180K tonnes), China, Hong Kong SAR (167K tonnes), Indonesia (163K tonnes), Saudi Arabia (150K tonnes), Thailand (142K tonnes), the Philippines (134K tonnes), the United Arab Emirates (107K tonnes), Viet Nam (106K tonnes), Kazakhstan (101K tonnes), Iraq (99K tonnes) and Democratic People’s Republic of Korea (94K tonnes) were the largest importers of apples in Asia, achieving 71% of total import.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Democratic People’s Republic of Korea, while the other leaders experienced more modest paces of growth. In value terms, India ($264M), Taiwan, Chinese ($245M) and China, Hong Kong SAR ($198M) appeared to be the countries with the highest levels of imports in 2018, with a combined 31% share of total imports. These countries were followed by Indonesia, Thailand, the Philippines, Saudi Arabia, the United Arab Emirates, Viet Nam, Kazakhstan, Democratic People’s Republic of Korea and Iraq, which together accounted for a further 43%.

Import Prices by Country

The apple import price in Asia stood at $965 per tonne in 2018, growing by 3% against the previous year. Over the period from 2008 to 2018, it increased at an average annual rate of +2.3%. There were significant differences in the average import prices amongst the major importing countries. In 2018, the country with the highest import price was Taiwan, Chinese ($1,362 per tonne), while Iraq ($194 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of import prices was attained by Democratic People’s Republic of Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

IRENA Report Reveals Renewable Energy Sector Supported 11 Million Jobs in 2018

A report released by the International Renewable Energy Agency (IRENA) confirmed the renewable energy sector is not only increasing numbers in global employment, but also expanding regional diversification for employment opportunities in key markets beyond China, the United States and the European Union. Malaysia, Thailand and Vietnam supported Asia’s position as a global employment hub for renewables jobs in 2018, boasting a 60 percent share worldwide.

Among specific renewable energy industries, solar photovoltaic (PV) represents a third of the workforce in 2018, ahead of liquid biofuels, hydropower, and wind power.

Following a dynamic trend is the wind industry with China representing 44 percent of global wind employment with the U.S. and Germany closely following. Land wind activity accounts for a majority of the 1.2 million jobs identified in the sector, while biofuel jobs were reported with a 6 percent growth in jobs in regions such as Brazil, Colombia, Southeast Asia, European Union, and United States.

“Beyond climate goals, governments are prioritizing renewables as a driver of low-carbon economic growth in recognition of the numerous employment opportunities created by the transition to renewables,” said Francesco La Camera, Director-General of IRENA. “Renewables deliver on all main pillars of sustainable development – environmental, economic and social. As the global energy transformation gains momentum, this employment dimension reinforces the social aspect of sustainable development and provides yet another reason for countries to commit to renewables.”

To read the full report, visit: IRENA.org

Source: International Renewable Energy Agency

IAAPA Expo Asia

Innovations, concepts and products from 300+ companies from around the world are presented at the conference held by the largest international trade association for permanently located attractions around the globe.

From June 11-14, more than 8,500 leading operators, suppliers, investors, and developers in the leisure and attractions industry will gather for the opportunity to network at this year’s conference and trade show. Attendees from more than 60 countries are anticipated.

The IAAPA Expo Asia will take place at the Shanghai New International Expo Center in Shanghai, China and will feature hundreds of companies showcasing new and innovative products and services.

To register, please visit: IAAPA.org

SURVEY SAYS …

The International Chamber of Commerce (ICC) Banking Commission’s 10th annual Global Survey on Trade Finance reveals that digitalization of the sector is increasing, although obstacles remain in the path toward efficient and paperless trade finance.

The survey, which gathered insights from 251 respondents in 91 countries, indicates that a key barrier to digitalization is the lack of standardization throughout the sector.

This indicates work is still needed to drive forward the digital agenda, although progress to date has been positive.

Download the full ICC Global Survey on Trade Finance at: http://www.iccwbo.org/global-survey-report.

The move toward paperless trade finance has been a long-standing objective for many in the industry. And, as our 10th annual survey indicates, digitalization is beginning to gain significant traction. Some 45 percent of respondents to this year’s survey indicated they intend to prioritize digital trade and the development and deployment of platforms over the next one to three years.

In a related development, interest in supply chain finance (SCF) is also gathering momentum. SCF, which usually involves financing through an online platform, is providing a growing number of banks with a strong alternative to traditional trade finance. What’s more, some 56 percent of bank respondents that offer SCF stated they had already developed their own proprietary systems rather than rely on an outsourced platform.

Nonetheless, the benefits of implementing technology solutions in trade finance processes have not been felt by all banks, with only 9 percent of respondents agreeing digitalization had improved efficiency to date. Divergent standards are cited as a key reason for the lack of improvement. This is apparent within SCF platforms and their lack of common standards for exchanging data.

As a result, some 32 percent of respondents with proprietary systems reported issues due to the lack of interoperability. Nevertheless, over 60 percent of banks said they were moving toward further digitalization, while just 7 percent indicated they had no plans to implement technology solutions in their trade finance offerings.

Enduring Problem: The Trade Finance Gap

Certainly, digitalization of the trade-finance sector is aimed at improving efficiency and processes, which should allow for greater trade finance capacity. And that should help relieve one of the greatest concerns for trade finance: the trade finance gap.

The difference between the demand and supply of trade finance currently stands at US$1.5 trillion, according to figures from the Asian Development Bank. What is more, some 22 percent of respondents expect the unmet demand to increase in the next 12 months.

Nonetheless, the survey indicates a positive outlook on the current and future provision of trade finance. Two thirds of respondents declared the amount of traditional trade finance they provided in 2017 was higher than the previous year. SCF provision is also increasing, with 43 percent of respondents indicating their SCF business grew in the past year.

In total, respondents to the survey provided over US$4.6 trillion in traditional trade finance and US$813 billion in supply chain finance last year. Over the next one to three years, some 41 percent of respondents expect the trade-finance gap to shrink.

Regulation: Key Barrier to Provision

Unfortunately, regulation remains one of the major barriers preventing the bridging of the trade-finance gap. The survey revealed that regulatory compliance requirements are still inhibiting banks’ ability to provide trade finance.

Some 90 percent of respondents highlighted regulatory compliance as a major obstacle to growth. Know Your Customer and Know Your Customer’s Customer (KYC/KYCC) obligations remain an issue for trade finance providers, with 18 percent of respondents to the survey citing compliance with KYC/KYCC regulations as the reason for a decrease in their provision of trade finance. What’s more, some 40 percent of respondents revealed the requirements were already a persistent challenge for SCF delivery.

The survey also outlines regulation to counter the financing of terrorism (CFT) as a key concern. Some 56 percent of respondents have serious concerns about the impact of CFT regulations on their ability to provide adequate trade finance in support of cross-border trade.

While practitioners recognize the need for adequate compliance measures, the lack of clarity surrounding regulatory expectations has led to overly stringent, self-imposed industry measures. Fulfilling all these regulatory requirements consequently represents an unnecessarily resource and time-heavy burden for banks.

Looking Ahead: What to Expect?

Despite these issues, the survey revealed a generally positive outlook on the future of the trade-finance sector.

Some 73 percent of respondents to the survey expect trade financing to grow over the next 12 months. Banks, especially, see the potential for SCF, with 91 percent of bank respondents expecting revenue growth from SCF in the next one to three years.

Regarding the potential for future digitalization, respondents agree that continued investment is necessary, with 46 percent believing the long-term focus should be on implementing and leveraging the opportunities from new technologies.

Importantly, the implementation of common standards is necessary to increase efficiency and market capacity, while enabling cost-effective due diligence.

Olivier Paul is head of Policy at the International Chamber of Commerce.

 

Zales Plans Major Asian Marketing Campaign

Los Angeles, CA – Zalemark Holding Company Inc. has sent its top designer, Steven Zale, to its factories in Thailand to prepare, in advance, the sample line concepts to bring to market for the launch of its jewelry brand.

Zalemark is expected to announce details of the long-term project in a few weeks.

“We feel that this new and unique jewelry line will revolutionize the industry and provide a stellar launching pad for this iconic brand’s entry into the jewelry market,” said Warren K. Nobusada, Zalemark’s newly-appointed chairman and CEO.

The result, he said, “will be an innovative, ‘must have’ line of jewelry that appeals to jewelry lovers from pre-teens to adults that will be set apart for its distinctiveness, beauty, and appealingly colorful design, resulting in an inventive, high-quality and high-profile presence in the jewelry industry for this important company’s brand and for Zalemark.”

10/22/2014