China: Cow Peas Market 2024

Cow Peas Market Size in China

The Chinese cow peas market declined to $X in 2021, waning by -6.7% against the previous year. In general, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Cow Peas Production in China

In value terms, cow peas production contracted to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +3.1% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by 126% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

The average yield of cow peas (dry) in China contracted modestly to X tons per ha in 2021, flattening at 2020 figures. Over the period under review, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the yield increased by 49% against the previous year. The cow peas yield peaked at X tons per ha in 2013; however, from 2014 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the harvested area of cow peas (dry) in China amounted to X ha, approximately equating the year before. The harvested area increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 12%. As a result, the harvested area reached the peak level of X ha. From 2019 to 2021, the growth of the cow peas harvested area failed to regain momentum.

Cow Peas Exports

Exports from China

After four years of decline, overseas shipments of cow peas (dry) increased by 90% to X tons in 2021. In general, exports, however, showed a abrupt descent. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, cow peas exports surged to $X in 2021. Overall, exports, however, showed a abrupt setback. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of cow peas exports from China, with a combined 71% share of total exports. South Korea, the Philippines, Singapore, Panama, Macao SAR, Yemen, Malaysia, India and Turkey lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Macao SAR (with a CAGR of +34.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cow peas exported from China were Indonesia ($X), Japan ($X) and South Korea ($X), with a combined 72% share of total exports. Singapore, the Philippines, Vietnam, Panama, Macao SAR, Malaysia, Yemen, India and Turkey lagged somewhat behind, together comprising a further 20%.

In terms of the main countries of destination, Macao SAR, with a CAGR of +42.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cow peas export price stood at $X per ton in 2021, falling by -15.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2020 an increase of 22%. As a result, the export price reached the peak level of $X per ton, and then fell dramatically in the following year.

Prices varied noticeably country of destination: the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Yemen ($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 Macao SAR (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into China

In 2021, supplies from abroad of cow peas (dry) decreased by -30.9% to X tons, falling for the second consecutive year after eight years of growth. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 313%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cow peas imports contracted markedly to $X in 2021. Overall, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 284% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India (X tons), Myanmar (X tons) and Vietnam (X tons) were the main suppliers of cow peas imports to China, together comprising 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +69.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cow peas suppliers to China were India ($X), Myanmar ($X) and Vietnam ($X), with a combined 100% share of total imports.

India, with a CAGR of +26.6%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, rising by 19% against the previous year. Over the period under review, the import price, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2019 when the average import price increased by 85% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Myanmar ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+24.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :