Figs market in Eastern Asia

Earlier Report Observations

From 2018, the fig market in Eastern Asia began to expand, supported by the emergence of new segments like glycolic acid extracts for the food industry and increased cultivation areas in regions such as Weihai. Imports, particularly from Turkey via China-Europe rail services, rose significantly, adding diversity to supply. By 2020, the rapid development of the fig enzyme market created additional raw material demand, leading to a sharp increase in import volumes.

In 2022, major fig-producing regions experienced a widespread production decline of about 30%, pushing prices upward and necessitating higher imports to meet market needs. Simultaneously, varietal improvements, including the registration of the 'Jinqing' fig, and the growth of processing sectors like fig wine production contributed to industry upgrading. The commercialization of the premium 'Purple Diamond' variety in 2023, with its heat tolerance and longer shelf life, stimulated demand for high-quality figs, while recovering Turkish production ensured steady import availability.

Overall, the market volume in physical terms grew consistently from 30 338 t in 2018 to 53 041 t in 2023, primarily fueled by a more than fivefold increase in imports. Domestic production remained relatively stable, while the market value showed more volatility due to price fluctuations.

Production figs in Eastern Asia

In kind, 2017-2020, t

Top producers of figs, 2017-2020

World map of production of figs, 2017-2020

In 2019, fig production in Eastern Asia reached its peak at 27 111 tons. However, output declined to 25 873 tons in 2018, marking the lowest point during this period. By 2020, production recovered slightly to 26 511 tons, representing a 2.2% decrease from the previous year. The most significant year-on-year growth occurred in 2019 with a 4.8% increase, while the largest decline was recorded in 2018 at 2.5%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, t

In value, 2017-2020, M $ US

The value of fig production in Eastern Asia peaked in 2019 at 146.3 million US dollars. In 2020, output value dropped to 131.0 million US dollars, showing a substantial 10.4% decrease compared to the previous year. Over the 2017-2020 period, production value declined by 6.7%, translating to a compound annual growth rate of 2.3%. The most notable increase occurred in 2019 with a 7.6% rise.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports figs from Eastern Asia

Exports in kind, t

Fig exports from Eastern Asia reached their lowest point in 2019 at 282 tons. In 2020, shipments rebounded to 438 tons, representing a significant 55.1% increase compared to the previous year. Between 2017 and 2020, exports grew by 3.1%, equivalent to an annualized rate of 1.0%. The most substantial decline occurred in 2018 with a 20.7% decrease.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, t

During the 2017-2020 period, Vietnam, Malaysia, and Singapore were notable but not dominant buyers of figs from Eastern Asia. Vietnam accounted for 13.6% of exports in volume, Malaysia for 11.8%, and Singapore for 10.8%. Together, these three markets represented 36.2% of total export volume, indicating a relatively diversified export structure.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Eastern Asia in kind, 2017-2020

Exports in value, K $ US

The value of fig exports from Eastern Asia hit its lowest point in 2019 at 1.524 million US dollars. In 2020, export value recovered to 2.165 million US dollars, showing a sharp 42.1% year-on-year improvement. Over the 2017-2020 period, export value decreased by 3.7%, corresponding to a compound annual growth rate of 1.2%. The most significant decline occurred in 2018 with a 21.3% drop.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, K $ US

Between 2017 and 2020, the export value structure for figs from Eastern Asia remained balanced rather than concentrated. Singapore accounted for 14.6% of export value, Malaysia for 12.1%, and Vietnam for 6.1%. Together, these three partners represented 32.8% of total export flows, while numerous other countries accounted for the remaining 67.2%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Eastern Asia in value, 2017-2020

Imports figs to Eastern Asia

Imports in kind, t

Fig imports to Eastern Asia reached their lowest point in 2018 at 4 802 tons. In 2019, imports surged to 7 769 tons, representing a substantial 42.3% increase. By 2020, imports grew further to 7 769 tons, showing a 13.7% rise compared to the previous year. Over the 2017-2020 period, import volume increased by 59.8%, equivalent to an annualized growth rate of 16.9%. The most notable decline occurred in 2018 with a 1.2% decrease.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, t

Throughout the 2017-2020 period, Turkey maintained its position as the dominant supplier of figs to Eastern Asia, accounting for 70.2% of total import volume. Other markets collectively formed a long tail of smaller suppliers.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Eastern Asia in kind, 2017-2020

Imports in value, K $ US

The value of fig imports to Eastern Asia reached its lowest point in 2018 at 29.862 million US dollars. In 2019, import value increased to 31.043 million US dollars, representing a 3.8% rise. By 2020, import value remained stable at 31.043 million US dollars, showing no significant change year-over-year. The most substantial decline occurred in 2018 with a 3.7% decrease.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, K $ US

During the 2017-2020 period, Turkey, the United States, and Iran remained the key suppliers of figs to Eastern Asia in value terms. Turkey accounted for 63.3% of import value, the United States for 13.5%, and Iran for 8.5%. Together, these three partners represented 85.3% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Eastern Asia in value, 2017-2020