Denmark: Cow Peas Market 2024

Cow Peas Market Size in Denmark

In 2022, the Danish cow peas market decreased by -60.9% to $X, falling for the second consecutive year after two years of growth. Overall, consumption saw a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Cow Peas Exports

Exports from Denmark

In 2022, shipments abroad of cow peas (dry) increased by 2.6% to X tons, rising for the second year in a row after two years of decline. Overall, exports posted a strong increase. The pace of growth appeared the most rapid in 2018 when exports increased by 47% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, cow peas exports expanded markedly to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 114% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Sweden (X tons), Finland (X tons) and Norway (X tons) were the main destinations of cow peas exports from Denmark, with a combined 85% share of total exports. The UK and Lithuania lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +82.5%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Sweden ($X) and Finland ($X) constituted the largest markets for cow peas exported from Denmark worldwide, with a combined 89% share of total exports. Norway and Lithuania lagged somewhat behind, together comprising a further 11%.

Lithuania, with a CAGR of +76.1%, recorded the highest rates of growth with regard to 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, picking up by 2.4% against the previous year. In general, the export price saw a prominent increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 77% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Cow Peas Imports

Imports into Denmark

In 2022, overseas purchases of cow peas (dry) decreased by -52% to X tons, falling for the second year in a row after three years of growth. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 49%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, cow peas imports declined notably to $X in 2022. Over the period under review, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 76%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cow peas to Denmark, with a 58% share of total imports. Moreover, cow peas imports from the Netherlands exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+181.9% per year) and Turkey (+5.6% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cow peas (dry) to Denmark, comprising 61% of total imports. The second position in the ranking was held by India ($X), with a 15% share of total imports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+170.1% per year) and Germany (+7.0% per year).

Import Prices by Country

In 2022, the average cow peas import price amounted to $X per ton, rising by 11% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cow peas import price decreased by -19.1% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 46%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a 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 Thailand ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :