Belgium: Cow Peas Market 2024

Cow Peas Market Size in Belgium

In 2021, after four years of growth, there was significant decline in the Belgian cow peas market, when its value decreased by -87.1% to $X. Overall, consumption saw a sharp contraction. Cow peas consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Cow Peas Production in Belgium

In value terms, cow peas production contracted sharply to $X in 2021 estimated in export price. In general, production, however, recorded a significant expansion. Cow peas production peaked at $X in 2020, and then shrank markedly in the following year.

Cow Peas Exports

Exports from Belgium

In 2021, approx. X tons of cow peas (dry) were exported from Belgium; waning by -47.1% on the year before. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,475%. The exports peaked at X tons in 2020, and then dropped notably in the following year.

In value terms, cow peas exports fell to $X in 2021. Over the period under review, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 1,577% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then declined in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for cow peas exports from Belgium, with a 71% share of total exports. Moreover, cow peas exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+34.8% per year) and France (+45.6% per year).

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the largest markets for cow peas exported from Belgium worldwide, with a combined 100% share of total exports.

The Netherlands, with a CAGR of +44.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cow peas export price amounted to $X per ton, jumping by 70% against the previous year. Overall, the export price, however, saw a deep slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.4%), while the prices for the other major destinations experienced a decline.

Cow Peas Imports

Imports into Belgium

In 2021, approx. X tons of cow peas (dry) were imported into Belgium; reducing by -46.4% compared with 2020. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 877%. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, cow peas imports reduced remarkably to $X in 2021. In general, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 765% against the previous year. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2021, Brazil (X tons) constituted the largest cow peas supplier to Belgium, with a 62% share of total imports. Moreover, cow peas imports from Brazil exceeded the figures recorded by the second-largest supplier, Cameroon (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +57.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Cameroon (+1,586.7% per year) and Turkey (+14.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of cow peas to Belgium, comprising 72% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports. It was followed by Peru, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil stood at +64.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+19.4% per year) and Peru (-17.3% per year).

Import Prices by Country

The average cow peas import price stood at $X per ton in 2021, growing by 9.4% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 decreased by -3.2% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 110%. Over the period under review, average import prices reached 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 supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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