China's Cabbage Exports in June 2023 Exceed $39 Million, Showing 5% Growth

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After experiencing three months of growth, the volume of cabbage and other brassicas exported from China decreased by 4.4% to 65,000 tons in June 2023. Overall, exports remained relatively stable. The highest growth rate was observed in August 2022, with a 40% increase compared to the previous month. In terms of value, cabbage exports generated $39 million in June 2023, according to IndexBox estimates. Overall, there has been a slight decline in exports. The most significant growth occurred in August 2022, with a 41% month-to-month increase, reaching a peak of $51 million. However, the growth of exports between September 2022 and June 2023 failed to regain momentum. Vietnam, Malaysia, and Thailand were the primary destinations for China's cabbage exports, accounting for a combined 75% share of total exports. During the period from June 2022 to June 2023, Malaysia experienced the highest increase in exports with a compound annual growth rate of 1.8%, while the other leading destinations showed mixed trends. In terms of market value, the largest buyers of Chinese cabbage were Vietnam ($7.7 million), Malaysia ($6.4 million), and Thailand ($5.3 million), making up a combined 50% share of total exports. Malaysia showed the highest growth rate in export value with a compound annual growth rate of 1.5%, while the other key markets experienced more modest growth. As of June 2023, the export price of cabbage from China was $593 per ton (FOB, China), reflecting a 9.7% increase compared to the previous month. Over the period under review, the average export price showed a slight decline. The most significant price growth occurred in November 2022, with a 20% month-to-month increase. The average export price reached its peak at $722 per ton in June 2022, but remained lower from July 2022 to June 2023. Average prices varied across different overseas markets. Singapore and Thailand had the highest prices at $445 per ton and $399 per ton, respectively, while Russia and Malaysia had the lowest prices at $349 per ton and $393 per ton, respectively. From June 2022 to June 2023, Singapore witnessed the most notable price growth with a rate of 3.4%, while other major markets showed mixed trends.

Source: IndexBox Market Intelligence Platform

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