Asia: Cow Peas Market 2024

Cow Peas Market Size in Asia

The Asian cow peas market rose remarkably to $X in 2021, surging by 7.6% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Cow Peas Production in Asia

In value terms, cow peas production fell modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 19%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

The countries with the highest volumes of production in 2021 were Myanmar (X tons), Yemen (X tons) and China (X tons), together comprising 94% of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by China (with a CAGR of +1.3%), while production for the other leaders experienced a decline in the production figures.

The average cow peas yield contracted slightly to X tons per ha in 2021, flattening at the year before. Over the period under review, the yield saw a pronounced descent. The growth pace was the most rapid in 2019 with an increase of 11% against the previous year. The level of yield peaked 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.

The cow peas harvested area totaled X ha in 2021, flattening at the previous year's figure. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 1.1%. Over the period under review, the harvested area dedicated to cow peas production attained the maximum at X ha in 2014; however, from 2015 to 2021, the harvested area failed to regain momentum.

Cow Peas Exports

Exports in Asia

In 2021, exports of cow peas (dry) in Asia soared to X tons, picking up by 90% against the previous year's figure. Overall, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cow peas exports soared to $X in 2021. In general, exports showed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons) was the main exporter of cow peas (dry), comprising 52% of total exports. Myanmar (X tons) ranks second in terms of the total exports with a 24% share, followed by Turkey (15%) and the United Arab Emirates (4.9%). China (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the cow peas (dry) exports, with a CAGR of +122.8% from 2012 to 2021. At the same time, Turkey (+103.3%), the United Arab Emirates (+80.2%) and Myanmar (+13.2%) displayed positive paces of growth. By contrast, China (-16.4%) illustrated a downward trend over the same period. While the share of India (+52 p.p.), Turkey (+15 p.p.) and the United Arab Emirates (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Myanmar (-10.9 p.p.) and China (-59.7 p.p.) displayed negative dynamics.

In value terms, the largest cow peas supplying countries in Asia were India ($X), Myanmar ($X) and Turkey ($X), together accounting for 92% of total exports.

In terms of the main exporting countries, India, with a CAGR of +114.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, almost unchanged from the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 12%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+6.0%), while the other leaders experienced mixed trends in the export price figures.

Cow Peas Imports

Imports in Asia

In 2021, approx. X tons of cow peas (dry) were imported in Asia; rising by 33% against the previous year. Overall, imports posted a significant expansion. The growth pace was the most rapid in 2014 when imports increased by 158%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, cow peas imports skyrocketed to $X in 2021. Over the period under review, imports saw significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 138%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

India prevails in imports structure, accounting for X tons, which was approx. 53% of total imports in 2021. It was distantly followed by Turkey (X tons), the United Arab Emirates (X tons), Pakistan (X tons), South Korea (X tons) and Iraq (X tons), together constituting a 33% share of total imports. Sri Lanka (X tons) held a little share of total imports.

Imports into India increased at an average annual rate of +29.4% from 2012 to 2021. At the same time, the United Arab Emirates (+32.0%), Turkey (+25.7%), Pakistan (+21.5%), Sri Lanka (+18.4%), South Korea (+6.8%) and Iraq (+5.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +32.0% from 2012-2021. India (+53 p.p.) and the United Arab Emirates (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan, Sri Lanka, South Korea and Iraq saw its share reduced by -1.8%, -2.1%, -14.6% and -17.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cow peas (dry) in Asia, comprising 52% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +33.4%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+25.7% per year) and the United Arab Emirates (+25.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 31% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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