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

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Canada: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Canada

For the fourth consecutive year, the Canadian taro (cocoyam) market recorded growth in sales value, which increased by 14% to $X in 2022. In general, consumption, however, posted a strong expansion. Taro (cocoyam) consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Taro (Cocoyam) Exports

Exports from Canada

In 2016, after three years of decline, there was decline in overseas shipments of taro, when their volume decreased by 0% to X kg. Overall, exports showed a sharp shrinkage. The smallest decline of -99.8% was in 2013. Over the period under review, the (cocoyam) exports attained the peak figure at X tons in 2012; however, from 2013 to 2016, the exports stood at a somewhat lower figure.

In value terms, taro (cocoyam) exports totaled $X in 2016. In general, exports recorded a dramatic decline. The smallest decline of -99.9% was in 2013. The exports peaked at $X in 2012; however, from 2013 to 2016, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for taro (cocoyam) exports from Canada, accounting for a 93% share of total exports. Moreover, taro (cocoyam) exports to the United States exceeded the volume sent to the second major destination, France (X kg), more than tenfold.

From 2012 to 2016, the average annual growth rate of volume to the United States was relatively modest.

From 2012 to 2016, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2016, the average taro (cocoyam) export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when the average export price decreased by -34.2% against the previous year. Over the period under review, the average export prices hit record highs in 2016 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2016, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France totaled $X per ton.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to France (-8.9%).

Taro (Cocoyam) Imports

Imports into Canada

In 2022, overseas purchases of taro decreased by -15.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) imports increased by +53.5% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 46% against the previous year. Over the period under review, (cocoyam) imports reached the maximum at X tons in 2021, and then reduced markedly in the following year.

In value terms, taro (cocoyam) imports soared to $X in 2022. In general, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 36%. Over the period under review, (cocoyam) imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of taro (cocoyam) to Canada, accounting for a 54% share of total imports. Moreover, taro (cocoyam) imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Ecuador (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.9% per year) and Ecuador (+71.4% per year).

In value terms, the largest taro (cocoyam) suppliers to Canada were Mexico ($X), China ($X) and Ecuador ($X), with a combined 75% share of total imports.

In terms of the main suppliers, Ecuador, with a CAGR of +78.9%, recorded the highest growth rate of 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

In 2022, the average taro (cocoyam) import price amounted to $X per ton, jumping by 53% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+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, together accounting for 56% of global consumption. These countries were followed by Ethiopia, Ghana, Papua New Guinea, Burundi, Madagascar and Rwanda, which together accounted for 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, with a combined 57% share of global production. Ethiopia, Ghana, Papua New Guinea and Burundi lagged somewhat behind, together accounting for a further 27%.

What are the leading suppliers of taro to Canada?

In value terms, the largest taro cocoyam) suppliers to Canada were China, Mexico and Ecuador, with a combined 76% share of total imports.

What is the average import price for taro in Canada?

The average taro cocoyam) import price stood at $1,131 per ton in 2020, increasing by 5.4% against the previous year.

This report provides an in-depth analysis of the taro (cocoyam) market in Canada. 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:

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
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
Find deeper insights into current market developments
Discover vital success factors affecting the market

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