Asia-Pacific: Dry Peas Market 2024

Dry Peas Market Size in Asia-Pacific

In 2021, the Asia-Pacific dry peas market increased by 2.6% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +3.9% against 2019 indices. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Dry Peas Production in Asia-Pacific

In value terms, dry peas production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 201%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

The countries with the highest volumes of production in 2021 were China (X tons), India (X tons) and Australia (X tons), together accounting for 96% of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by India (with a CAGR of +1.5%), while production for the other leaders experienced mixed trends in the production figures.

In 2021, the average yield of peas (dry) in Asia-Pacific reduced modestly to X tons per ha, leveling off at 2020 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 16% against the previous year. Over the period under review, the dry peas yield reached the maximum level at X tons per ha in 2020, and then reduced slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of peas (dry) were harvested in Asia-Pacific; leveling off at the year before. In general, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the harvested area increased by 9.4% against the previous year. Over the period under review, the harvested area dedicated to dry peas production reached the maximum at X ha in 2017; however, from 2018 to 2021, the harvested area failed to regain momentum.

Dry Peas Exports

Exports in Asia-Pacific

In 2021, overseas shipments of peas (dry) increased by 137% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a mild downturn. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, dry peas exports skyrocketed to $X in 2021. In general, exports, however, recorded a slight decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia represented the main exporting country with an export of about X tons, which recorded 67% of total exports. India (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by New Zealand (13%). Myanmar (X tons) held a little share of total exports.

Exports from Australia decreased at an average annual rate of -4.2% from 2012 to 2021. At the same time, India (+59.9%), Myanmar (+7.4%) and New Zealand (+3.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +59.9% from 2012-2021. From 2012 to 2021, the share of India, New Zealand and Myanmar increased by +14, +4.4 and +2.3 percentage points, respectively.

In value terms, Australia ($X), New Zealand ($X) and India ($X) were the countries with the highest levels of exports in 2021, with a combined 89% share of total exports.

In terms of the main exporting countries, India, with a CAGR of +63.2%, 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-Pacific amounted to $X per ton, dropping by -24.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 30%. The level of export peaked at $X per ton in 2020, and then shrank rapidly 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 New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+3.8%), while the other leaders experienced more modest paces of growth.

Dry Peas Imports

Imports in Asia-Pacific

After two years of growth, purchases abroad of peas (dry) decreased by -13.1% to X tons in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 25% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, dry peas imports rose remarkably to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.9% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 29% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China was the key importer of peas (dry) in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 54% of total imports in 2021. Pakistan (X tons) held the second position in the ranking, followed by Bangladesh (X tons) and India (X tons). All these countries together took near 38% share of total imports. Nepal (X tons) held a little share of total imports.

Imports into China increased at an average annual rate of +14.1% from 2012 to 2021. At the same time, Nepal (+30.9%), Pakistan (+16.5%) and Bangladesh (+10.2%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +30.9% from 2012-2021. By contrast, India (-19.3%) illustrated a downward trend over the same period. China (+30 p.p.), Pakistan (+12 p.p.), Bangladesh (+5.3 p.p.) and Nepal (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -48.5% from 2012 to 2021, respectively.

In value terms, China ($X), Pakistan ($X) and Bangladesh ($X) constituted the countries with the highest levels of imports in 2021, with a combined 86% share of total imports. These countries were followed by India and Nepal, which together accounted for a further 6.7%.

Among the main importing countries, Nepal, with a CAGR of +33.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 29% against the previous year. In general, the import price, however, showed a slight shrinkage. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Pakistan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+2.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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