Price for Vegetable Products Not Elsewhere Specified or Included in Pakistan - 2023

Contents:

1. Price for Vegetable Products Not Elsewhere Specified or Included in Pakistan (CIF) - 2023
2. Price for Vegetable Products Not Elsewhere Specified or Included in Pakistan (FOB) - 2023
3. Imports of Vegetable Products Not Elsewhere Specified or Included in Pakistan
4. Exports of Vegetable Products Not Elsewhere Specified or Included in Pakistan

Price for Vegetable Products Not Elsewhere Specified or Included in Pakistan (CIF) - 2023

The average import price for vegetable products not elsewhere specified or includeds stood at $799 per ton in February 2023, shrinking by -5.7% against the previous month. Overall, import price indicated a tangible increase from August 2022 to February 2023: its price increased at an average monthly rate of +2.1% over the last six-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, import price for vegetable products not elsewhere specified or includeds decreased by -16.8% against November 2022 indices. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 61% m-o-m. As a result, import price reached the peak level of $960 per ton. From December 2022 to February 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Sri Lanka ($1,433 per ton), while the price for Indonesia ($433 per ton) was amongst the lowest.

From August 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Myanmar (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Vegetable Products Not Elsewhere Specified or Included in Pakistan (FOB) - 2023

In February 2023, the average export price for vegetable products not elsewhere specified or includeds amounted to $400 per ton, declining by -2.9% against the previous month. Over the period under review, the export price, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in December 2022 an increase of 371% month-to-month. As a result, the export price attained the peak level of $1,139 per ton. From January 2023 to February 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In February 2023, the country with the highest price was Somalia ($1,670 per ton), while the average price for exports to Qatar ($56.0 per ton) was amongst the lowest.

From August 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+70.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vegetable Products Not Elsewhere Specified or Included in Pakistan

After three years of growth, purchases abroad of vegetable products not elsewhere specified or includeds decreased by -9.5% to 43K tons in 2022. The total import volume increased at an average annual rate of +1.6% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 14% against the previous year.

In value terms, imports of vegetable products not elsewhere specified or includeds shrank to $32M in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 9.4% against the previous year.

Top Suppliers of Vegetable Products Not Elsewhere Specified or Included to Pakistan in 2022:

1. Sri Lanka (20.3K tons)
2. Indonesia (19.9K tons)
3. Myanmar (2.3K tons)
4. Montenegro (0.2K tons)

Exports of Vegetable Products Not Elsewhere Specified or Included in Pakistan

In 2022, exports of vegetable products not elsewhere specified or includeds from Pakistan fell notably to 15K tons, waning by -60.7% on the previous year's figure. Over the period under review, exports showed a deep downturn. The pace of growth was the most pronounced in 2021 when exports increased by 82% against the previous year. As a result, the exports reached the peak of 39K tons, and then reduced remarkably in the following year.

In value terms, exports of vegetable products not elsewhere specified or includeds shrank dramatically to $4.2M in 2022. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year. As a result, the exports attained the peak of $6.4M, and then contracted rapidly in the following year.

Top Export Markets for Vegetable Products Not Elsewhere Specified or Included from Pakistan in 2022:

1. United Arab Emirates (9.8K tons)
2. China (1.6K tons)
3. Qatar (1.5K tons)
4. Saudi Arabia (0.3K tons)
5. Uzbekistan (0.3K tons)
6. Somalia (0.3K tons)

Source: IndexBox Market Intelligence Platform