ASEAN: Cow Peas Market 2024

Cow Peas Market Size in ASEAN

In 2021, the ASEAN cow peas market increased by 1.1% to $X, rising for the seventh year in a row after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Cow Peas Production in ASEAN

In value terms, cow peas production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 13% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined modestly in the following year.

The country with the largest volume of cow peas production was Myanmar (X tons), comprising approx. 100% of total volume.

In Myanmar, cow peas production declined by an average annual rate of -3.8% over the period from 2012-2021.

In 2021, the average cow peas yield in ASEAN declined modestly to X kg per ha, which is down by -2.6% against the previous year's figure. In general, the yield continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2020 when the yield increased by 5.5% against the previous year. Over the period under review, the cow peas yield hit record highs at X tons per ha in 2012; however, from 2013 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of cow peas (dry) in ASEAN amounted to X ha, flattening at the year before. Overall, the harvested area, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 1.4%. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2021, the harvested area stood at a somewhat lower figure.

Cow Peas Exports

Exports in ASEAN

In 2021, overseas shipments of cow peas (dry) decreased by -7.3% to X tons, falling for the sixth consecutive year after four years of growth. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 153% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, cow peas exports declined slightly to $X in 2021. Over the period under review, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 145%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Myanmar (X tons), together resulting at 99% of total export.

Myanmar was also the fastest-growing in terms of the cow peas (dry) exports, with a CAGR of +13.2% from 2012 to 2021. While the share of Myanmar (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Myanmar ($X) also remains the largest cow peas supplier in ASEAN.

In Myanmar, cow peas exports expanded at an average annual rate of +20.0% over the period from 2012-2021.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, surging by 5.4% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cow peas export price increased by +37.0% against 2013 indices. The most prominent rate of growth was recorded in 2013 an increase of 20% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2021, the rate of growth in terms of prices for Myanmar amounted to +6.0% per year.

Cow Peas Imports

Imports in ASEAN

In 2021, the amount of cow peas (dry) imported in ASEAN soared to X tons, surging by 190% against 2020. In general, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cow peas imports surged to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of cow peas imports in 2021 were Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons), together reaching 84% of total import. It was distantly followed by the Philippines (X tons), committing a 12% share of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +73.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cow peas importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Vietnam ($X), with a combined 84% share of total imports. The Philippines and Myanmar lagged somewhat behind, together comprising a further 14%.

Myanmar, with a CAGR of +65.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, approximately reflecting the previous year. Import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cow peas import price increased by +15.4% against 2019 indices. The pace of growth was the most pronounced in 2015 when the import price increased by 30% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform