According to Rural Bank, Queensland asparagus growers could face a significant price drop this season. The October 2020 Rural Bank Insights Update says early season asparagus prices are 40.8 per cent lower in comparison to this time last year with the current price of $10.35 per kilo also considerably lower than the three-year average.
"Asparagus picking is now in full swing with a strong harvest expected following above average rainfall across the major asparagus crop region in Victoria," the report said. "The lower prices are reflecting the decreased export demand from Japan which has been Australia's largest asparagus export market in previous years."
According to an article on queenslandcountrylife.com.au, the Handbook reflects the significant influence Japan has as a buyer of Australian asparagus, with 71 per cent of fresh product exported there.