Eastern Asia: Cow Peas Market 2025

Cow Peas Market Size in Eastern Asia

The East Asian cow peas market soared to $X in 2022, increasing by 48% against the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +103.6% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cow Peas Production in Eastern Asia

In value terms, cow peas production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 74% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

China (X tons) remains the largest cow peas producing country in Eastern Asia, accounting for 100% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.1%.

In 2022, the average cow peas yield in Eastern Asia reached X tons per ha, almost unchanged from 2021 figures. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by 50%. Over the period under review, the cow peas yield attained the peak level at X tons per ha in 2013; however, from 2014 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cow peas harvested area dropped slightly to X ha in 2022, remaining stable against 2021 figures. The harvested area increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 12%. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the cow peas harvested area remained at a lower figure.

Cow Peas Exports

Exports in Eastern Asia

In 2022, overseas shipments of cow peas (dry) increased by 15% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 87%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, cow peas exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 92%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near 86% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), making up a 9.4% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -13.0% from 2012 to 2022. Hong Kong SAR (-8.4%) and Taiwan (Chinese) (-12.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Hong Kong SAR increased by +7.2 and +4.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest cow peas supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 8.7% share of total exports.

In China, cow peas exports decreased by an average annual rate of -7.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-7.2% per year) and Taiwan (Chinese) (-1.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 18% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cow peas export price increased by +135.5% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 54%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.6%), while the other leaders experienced more modest paces of growth.

Cow Peas Imports

Imports in Eastern Asia

In 2022, approx. X tons of cow peas (dry) were imported in Eastern Asia; jumping by 91% compared with 2021. In general, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cow peas imports soared to $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 51%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Japan was the key importer of cow peas (dry) in Eastern Asia, with the volume of imports accounting for X tons, which was near 55% of total imports in 2022. China (X tons) held the second position in the ranking, distantly followed by Taiwan (Chinese) (X tons). All these countries together took approx. 40% share of total imports. The following importers - South Korea (X tons) and Hong Kong SAR (X tons) - each accounted for a 4.3% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +155.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of imports in 2022, with a combined 91% share of total imports.

In terms of the main importing countries, China, with a CAGR of +139.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with a decrease of -32.8% against the previous year. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2014 an increase of 23%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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