Indonesia Basil Leaves Market Shipment Analysis
Indonesia Basil Leaves Market registered a growth of 15.28% in value shipments in 2021 as compared to 2020 and a decrease of -8.46% CAGR in 2021 over a period of 2017. In Basil Leaves Market Indonesia is becoming more competitive as the HHI index in 2021 was 2978 while in 2017 it was 5159. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Indonesia has reportedly relied more on domestic production to meet its growing demand in Basil Leaves Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Basil Leaves Market in 2021 was 0.3 while in 2017 it was 0.73. Congo, China, India, Vietnam and Germany were among the top players of the market in 2021, where Congo acquired the largest market share of 40.46% with a shipment value of 5.29 million USD in 2022 Congo also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Basil Leaves Market. In 2017 Congo had the largest market share of 67.2% with the shipment value of 11.92 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Congo price is lower than the average price, it provided a significant edge among other competitor in 2017.
