China: Cow Peas Market 2024

Cow Peas Market Size in China

The Chinese cow peas market skyrocketed to $X in 2022, picking up by 17% against the previous year. Overall, consumption continues to indicate resilient growth. Cow peas consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cow Peas Production in China

In value terms, cow peas production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2017 with an increase of 73%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of cow peas (dry) in China stood at X tons per ha, almost unchanged from the previous year. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by 49%. The cow peas yield peaked at X tons per ha in 2013; however, from 2014 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the cow peas harvested area in China fell slightly to X ha, stabilizing at the previous year. The harvested area increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the cow peas harvested area remained at a somewhat lower figure.

Cow Peas Exports

Exports from China

In 2022, shipments abroad of cow peas (dry) increased by 44% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2021 when exports increased by 292% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cow peas exports surged to $X in 2022. In general, exports, however, saw a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 953% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons), Spain (X tons) and Japan (X tons) were the main destinations of cow peas exports from China, together accounting for 65% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +849.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cow peas exported from China were Italy ($X), Spain ($X) and Japan ($X), with a combined 64% share of total exports.

Spain, with a CAGR of +799.4%, recorded the highest growth rate of the value of exports, among 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 2022, the average cow peas export price amounted to $X per ton, growing by 33% against the previous year. Overall, the export price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2021 an increase of 169%. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Spain ($X per ton), while the average price for exports to Slovenia ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into China

For the third year in a row, China recorded growth in purchases abroad of cow peas (dry), which increased by 40% to X tons in 2022. Over the period under review, imports recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 1,121%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, cow peas imports expanded significantly to $X in 2022. In general, imports saw a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 1,560%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Myanmar (X tons), India (X tons) and Poland (X tons) were the main suppliers of cow peas imports to China, together comprising 99.9% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +261.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cow peas suppliers to China were Myanmar ($X), India ($X) and Poland ($X), together comprising 99.9% of total imports.

India, with a CAGR of +257.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cow peas import price stood at $X per ton in 2022, reducing by -20.9% against the previous year. In general, the import price recorded a drastic downturn. The pace of growth was the most pronounced in 2019 an increase of 489% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+28.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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