Prepared mushrooms and truffles market in ASEAN

Earlier Report Observations

The market for prepared mushrooms and truffles in ASEAN showed steady growth in volume from 95 thousand tons in 2018 to 162.5 thousand tons in 2023. This expansion was supported by a general increase in domestic production, which rose from 54.7 thousand tons to 106.7 thousand tons over the period, despite a temporary dip in 2022. The most pronounced market growth occurred in 2021 and 2023, with the latter year seeing the market size jump by 23.6%.

The significant market expansion in 2023 coincided with a surge in regional production. Industry observations pointed to a 176% increase in exports of these products from the Philippines during that year, indicating a notable ramp-up in output from a key producing country within ASEAN. Concurrently, price volatility was evident, with forecasted export prices from Indonesia dropping from $3.17 per kg in 2023 to $2.15 per kg for 2024, a factor that likely influenced trade flows and sourcing decisions across the region.

Import volumes into ASEAN peaked at over 62 thousand tons in 2022 and 2023 before easing, while export figures fluctuated throughout the period. These trade movements contributed to the overall supply landscape, with the consistent rise in market volume underscoring robust underlying demand for prepared mushrooms and truffles across Southeast Asian countries.

Production prepared mushrooms and truffles in ASEAN

In kind, 2017-2020, t

Top producers of prepared mushrooms and truffles, 2017-2020

World map of production of prepared mushrooms and truffles, 2017-2020

Production of prepared mushrooms and truffles in ASEAN has grown for the third year in a row. In 2020, ASEAN produced 66 838 tonnes, representing an 11.8% increase compared to the previous year. From 2017 to 2020, production rose by 25.8%, which translates to an average annual growth rate of 7.9%.

Annual dynamics of production in ASEAN in kind, 2017-2020, t

Exports prepared mushrooms and truffles from ASEAN

Exports in kind, t

Market performance showed significant fluctuations during this period. Imports varied considerably, with a 6.1-fold difference between the peak in 2017 and the low point in 2019. In 2020, ASEAN's exports of prepared mushrooms and truffles reached 5 543 tonnes, up 67.2% from the previous year. The lowest level was recorded in 2019 at 3 314 tonnes, while the largest decline occurred in 2018, dropping by 72.4%.

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

From 2017 to 2020, exports in volume were distributed across a broad range of partner countries. The United States accounted for 28.9% of exports, Japan for 11.3%, and Saudi Arabia for 9.8%. Together, these three countries made up just 49.9% of total export flows.

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

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

Exports in value, K $ US

In 2020, ASEAN's exports of prepared mushrooms and truffles in value terms amounted to 24 241 thousand US dollars, marking a 56.9% increase over the previous year. Between 2017 and 2020, exports grew by 42.7%, with a compound annual growth rate of 12.6%. The lowest value was recorded in 2019 at 15 454 thousand US dollars, which also saw the largest decline of 17.4%.

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

Throughout the 2017–2020 period, the United States, Japan, and Saudi Arabia remained the key destinations for exports in value terms. The United States accounted for 56.7% of exports, Japan for 11.4%, and Saudi Arabia for 5.0%. Combined, these three countries represented 73.2% of total export flows.

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

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

Imports prepared mushrooms and truffles to ASEAN

Imports in kind, t

Imports of prepared mushrooms and truffles into ASEAN have increased for the third consecutive year. In 2020, imports totaled 49 963 tonnes, showing a 7.0% rise compared to the previous year. From 2017 to 2020, imports grew by 17.3%, with an average annual growth rate of 5.4%.

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

Between 2017 and 2020, imports of prepared mushrooms and truffles into ASEAN were highly concentrated, with China accounting for 97.0% of total import volumes.

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

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

Imports in value, K $ US

In 2020, ASEAN imported prepared mushrooms and truffles worth 61 681 thousand US dollars, which is a 27.6% increase compared to 2019. Over the 2017–2020 period, imports rose by 44.5%, with a compound annual growth rate of 13.1%. The largest decline was recorded in 2019, at 4.9%.

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

From 2017 to 2020, China clearly dominated as the main supplier of prepared mushrooms and truffles to ASEAN, representing 91.9% of total import value.

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

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