Canada: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Canada

In 2022, the Canadian market for broad beans and horse beans (dry) increased by 1% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, saw a pronounced descent. Broad bean and horse bean consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Broad Beans And Horse Beans (Dry) in Canada

In value terms, broad bean and horse bean production contracted modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 16%. Broad bean and horse bean production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The average yield of broad beans and horse beans (dry) in Canada totaled less than X kg per ha in 2022, leveling off at 2021. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of broad beans and horse beans (dry) were harvested in Canada; flattening at 2021 figures. In general, the harvested area saw a relatively flat trend pattern.

Exports of Broad Beans And Horse Beans (Dry)

Exports from Canada

In 2022, shipments abroad of broad beans and horse beans (dry) decreased by -3.3% to X tons, falling for the third year in a row after two years of growth. In general, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 149% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, broad bean and horse bean exports rose significantly to $X in 2022. Over the period under review, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 157% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for broad bean and horse bean exports from Canada, with a 68% share of total exports. Moreover, broad bean and horse bean exports to the United States exceeded the volume sent to the second major destination, Egypt (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +22.6%.

In value terms, the United States ($X) remains the key foreign market for broad beans and horse beans (dry) exports from Canada, comprising 68% of total exports. The second position in the ranking was held by Egypt ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +18.8%.

Export Prices by Country

In 2022, the average export price for broad beans and horse beans (dry) amounted to $X per ton, surging by 9.8% against the previous year. In general, the export price, however, continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (-0.0%), while the prices for the other major destinations experienced a decline.

Imports of Broad Beans And Horse Beans (Dry)

Imports into Canada

For the third consecutive year, Canada recorded decline in purchases abroad of broad beans and horse beans (dry), which decreased by -19.4% to X tons in 2022. Overall, imports, however, enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,171% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, broad bean and horse bean imports stood at $X in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 863%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Peru (X tons), the United States (X tons) and China (X tons) were the main suppliers of broad bean and horse bean imports to Canada, with a combined 68% share of total imports. Egypt, India, Germany, Turkey and Australia lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +166.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X) constituted the largest supplier of broad beans and horse beans (dry) to Canada, comprising 40% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Egypt, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from Peru amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.6% per year) and Egypt (+24.3% per year).

Import Prices by Country

The average import price for broad beans and horse beans (dry) stood at $X per ton in 2022, rising by 31% against the previous year. Overall, the import price recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by 42% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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