Africa: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Africa

The African taro (cocoyam) market totaled $X in 2022, picking up by 1.6% against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Taro (Cocoyam) Production in Africa

In value terms, taro (cocoyam) production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 29% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Nigeria (X tons), Ethiopia (X tons) and Cameroon (X tons), together accounting for 75% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Ethiopia (with a CAGR of +9.4%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average taro (cocoyam) yield in Africa amounted to X tons per ha, standing approx. at 2021 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 10%. The level of yield peaked at X tons per ha in 2014; however, from 2015 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the taro (cocoyam) harvested area in Africa stood at X ha, remaining stable against the previous year's figure. The harvested area increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 15% against the previous year. The level of harvested area peaked at X ha in 2016; afterwards, it flattened through to 2022.

Taro (Cocoyam) Exports

Exports in Africa

Taro (cocoyam) exports surged to X tons in 2022, picking up by 653% compared with the previous year. In general, exports showed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, taro (cocoyam) exports surged to $X in 2022. Over the period under review, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Egypt represented the key exporting country with an export of around X tons, which accounted for 68% of total exports. It was distantly followed by Madagascar (X tons), making up a 28% share of total exports. Uganda (X tons) followed a long way behind the leaders.

Egypt experienced a relatively flat trend pattern with regard to volume of exports of taro. At the same time, Uganda (+53.7%) and Madagascar (+15.3%) displayed positive paces of growth. Moreover, Uganda emerged as the fastest-growing exporter exported in Africa, with a CAGR of +53.7% from 2012-2022. While the share of Egypt (+68 p.p.) and Uganda (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Madagascar (-12.1 p.p.) displayed negative dynamics.

In value terms, Egypt ($X) emerged as the largest taro (cocoyam) supplier in Africa, comprising 89% of total exports. The second position in the ranking was taken by Madagascar ($X), with a 5.3% share of total exports.

In Egypt, taro (cocoyam) exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Madagascar (+11.3% per year) and Uganda (+66.7% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, with an increase of 28% against the previous year. Overall, the export price saw prominent growth. The growth pace was the most rapid in 2021 when the export price increased by 210%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while Madagascar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uganda (+8.4%).

Taro (Cocoyam) Imports

Imports in Africa

After three years of growth, overseas purchases of taro decreased by -30.8% to X tons in 2022. Overall, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,815% against the previous year. Over the period under review, (cocoyam) imports attained the maximum at X tons in 2021, and then declined rapidly in the following year.

In value terms, taro (cocoyam) imports contracted markedly to $X in 2022. In general, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 433% against the previous year. The level of import peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

Burundi was the main importer of taro in Africa, with the volume of imports accounting for X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Comoros (X tons), constituting a 15% share of total imports.

Burundi was also the fastest-growing in terms of the taro imports, with a CAGR of +185.9% from 2012 to 2022. At the same time, Comoros (+90.1%) displayed positive paces of growth. From 2012 to 2022, the share of Burundi and Comoros increased by +84 and +13 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest taro (cocoyam) importing markets in Africa were Comoros ($X) and Burundi ($X).

Burundi, with a CAGR of +188.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, with an increase of 11% against the previous year. Overall, the import price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 56%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Comoros ($X per ton), while Burundi stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burundi (+1.0%).

Source: IndexBox Platform

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