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Australia - Taro - Market Analysis, Forecast, Size, Trends and Insights

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Australia: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Australia

In 2022, the Australian taro (cocoyam) market decreased by -6.6% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption, however, enjoyed buoyant growth. Taro (cocoyam) consumption peaked at $X in 2021, and then declined in the following year.

Taro (Cocoyam) Exports

Exports from Australia

In 2022, overseas shipments of taro decreased by -93.8% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a significant decrease. The pace of growth was the most pronounced in 2020 with an increase of 34% against the previous year. Over the period under review, the (cocoyam) exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, taro (cocoyam) exports contracted notably to $X in 2022. Over the period under review, exports saw a significant curtailment. The growth pace was the most rapid in 2020 with an increase of 37% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Nauru (X kg) was the main destination for taro (cocoyam) exports from Australia, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Nauru was relatively modest.

In value terms, Nauru ($X) emerged as the key foreign market for taro exports from Australia.

From 2012 to 2022, the average annual growth rate of value to Nauru was relatively modest.

Export Prices by Country

The average taro (cocoyam) export price stood at $X per ton in 2022, surging by 43% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, taro (cocoyam) export price increased by +118.3% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Fiji amounted to +14.3% per year.

Taro (Cocoyam) Imports

Imports into Australia

In 2022, overseas purchases of taro decreased by -3.3% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of (cocoyam) imports failed to regain momentum.

In value terms, taro (cocoyam) imports shrank to $X in 2022. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 54% against the previous year. Over the period under review, (cocoyam) imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Fiji (X tons) constituted the largest taro (cocoyam) supplier to Australia, accounting for a 75% share of total imports. Moreover, taro (cocoyam) imports from Fiji exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold. The third position in this ranking was held by Tonga (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Fiji amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+14.9% per year) and Tonga (-2.9% per year).

In value terms, Fiji ($X) constituted the largest supplier of taro to Australia, comprising 80% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 10% share of total imports. It was followed by Thailand, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Fiji totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+19.7% per year) and Thailand (+13.2% per year).

Import Prices by Country

In 2022, the average taro (cocoyam) import price amounted to $X per ton, declining by -3.9% against the previous year. In general, the import price, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 26%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Fiji ($X per ton), while the price for Tonga ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Fiji (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for taro in the world?

The countries with the highest volumes of taro cocoyam) consumption in 2020 were Nigeria, Cameroon and China, with a combined 56% share of global consumption. Ethiopia, Ghana, Papua New Guinea, Burundi, Madagascar and Rwanda lagged somewhat behind, together comprising a further 31%.

What are the largest producers of taro in the world?

The countries with the highest volumes of taro cocoyam) production in 2020 were Nigeria, China and Cameroon, together comprising 57% of global production. Ethiopia, Ghana, Papua New Guinea and Burundi lagged somewhat behind, together comprising a further 27%.

What are the leading suppliers of taro to Australia?

In value terms, Fiji constituted the largest supplier of taro cocoyam) to Australia, comprising 144% of total imports. The second position in the ranking was occupied by Vietnam, with a 15% share of total imports. It was followed by Thailand, with a 4.6% share.

What are the leading importers of taro from Australia?

In value terms, Hong Kong SAR remains the key foreign market for taro cocoyam) exports from Australia.

What is the average export price for taro in Australia?

The average taro cocoyam) export price stood at $3,414 per ton in 2020, rising by 28% against the previous year.

What is the average import price for taro in Australia?

In 2020, the average taro cocoyam) import price amounted to $2,481 per ton, rising by 3.5% against the previous year.

This report provides an in-depth analysis of the taro (cocoyam) market in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 136 - Taro (Cocoyam)

Country coverage:

Australia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Australia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023