Market Insights
04-12-2024
In 2023, the global trade in figs reached a remarkable total of $733.7 million in exports, demonstrating a steady rise in the international demand for this nutritious fruit. Over the past five years, exports of figs have increased by an impressive 19.3%, up from $614.9 million in 2019. Year-on-year growth also showed robust momentum, with the value of exported figs growing by 17.3% compared to 2022.
Figs, which are the fruits of small flowering trees, are highly valued for their sweet flavor and versatility. They are consumed fresh or dried, but can also be processed into jams, biscuits, and other delightful desserts. This broad range of uses contributes to the increasing global demand for figs, and several countries dominate both the export and import markets.
Top Exporting Countries for Figs in 2023
The leading exporters of figs in 2023 accounted for nearly 80% of the global fig exports. The top five exporters by value are:
· Turkey: $339.9 million (46.3% of global exports)
· Afghanistan: $153.6 million (20.9%)
· Austria: $35 million (4.8%)
· Iran: $28.4 million (3.9%)
· Spain: $24.5 million (3.3%)
These countries were responsible for 79.2% of all international fig sales. Notably, Turkey remains the largest fig exporter, with its products representing nearly half of the global export value. Afghanistan saw the largest increase in exports, growing by 116.4% compared to 2022, while Austria and Brazil also posted strong growth rates.
Other significant exporters include Germany, Greece, France, and Italy, each contributing to the steady flow of figs in international markets. However, some countries, such as Syria and Iran, experienced a decline in export sales, with Syria seeing a sharp drop of -64.4%.
Top Importing Countries for Figs in 2023
When it comes to fig imports, the top buyers of this fruit in 2023 were highly concentrated. The five largest importers collectively purchased more than 50% of the total imported figs:
· India: $150.6 million (19.3% of global imports)
· Germany: $74 million (9.5%)
· United States: $65.6 million (8.4%)
· France: $56.2 million (7.2%)
· Austria: $44.8 million (5.7%)
In total, the 15 largest importing countries accounted for 78.7% of all imported figs. Notably, India emerged as the largest importer, representing nearly one-fifth of global fig imports. Germany and the United States followed closely, reflecting their steady demand for this fruit in both fresh and processed forms.
Regional Distribution of Fig Exports and Imports
The trade in figs is notably dominated by certain regions. In 2023, Asian countries accounted for the largest share of global fig exports, with shipments valued at $538.6 million or 73.4% of the total. Europe followed as the second-largest exporter region, contributing 21.6% of global exports.
When considering fig imports, Europe led the way, importing 49.3% of global figs, followed by Asia with 33.8%. North America accounted for 11.8%, while smaller shares were imported by Africa (3.6%) and Oceania (1.1%), primarily from Australia and New Zealand.
Global Price Trends for Figs in 2023
The average unit price for imported figs in 2023 was approximately $4,825 per ton, reflecting a 42.7% increase compared to the average price of $3,400 per ton in 2022. This price surge can be attributed to both increased demand and inflationary pressures on agricultural commodities globally.
Export and Import Trends by Company in 2023
In addition to country-level analysis, data also shows key exporters and importers by company:
Top Fig Importers by Company in 2023
MOHEB MOHAMMAD SHAH LTD: $21.42 Million (4.62% share)
MONDELEZ: $11.02 Million (2.38%)
KING KHAN LTD: $10.89 Million (2.35%)
RELIANCE RETAIL LIMITED: $10.49 Million (2.26%)
CHHABRA IMPEX: $9.07 Million (1.96%)
These companies are significant players in the global fig market, purchasing large volumes of figs for processing, retail, and distribution across various regions.
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Top Fig Exporters by Company in 2023
· KANDAHAR TRADERS: $20.73 Million (4.47%)
· KING KHAN LTD: $11 Million (2.37%)
· CHHABRA IMPEX: $8.07 Million (1.74%)
· SUFI SAHIB LTD: $7.53 Million (1.62%)
· COSTANTINI LEONE SPA: $6.44 Million (1.39%)
These exporters play a crucial role in supplying the global fig market, with companies like Kandahar Traders and King Khan Ltd being significant suppliers to international markets.
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Conclusion
The global trade in figs continues to thrive, with Turkey leading exports and India leading imports in 2023. The rising demand for figs, coupled with the increasing prices, signals the growing importance of this fruit in international trade. As countries adapt to changing consumer preferences, the fig trade will likely continue to expand, with both producers and distributors seeking to meet the diverse needs of consumers worldwide.
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