Eastern Europe: Cow Peas Market 2024

Cow Peas Market Size in Eastern Europe

The East European cow peas market surged to $X in 2022, picking up by 1,072% against the previous year. Over the period under review, consumption, however, showed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cow Peas Production in Eastern Europe

In value terms, cow peas production skyrocketed to $X in 2022 estimated in export price. Overall, production enjoyed significant growth. The growth pace was the most rapid in 2017 with an increase of 28,180% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Latvia (X tons) remains the largest cow peas producing country in Eastern Europe, accounting for 95% of total volume. Moreover, cow peas production in Latvia exceeded the figures recorded by the second-largest producer, Hungary (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Latvia amounted to +1.4%.

In 2022, the average cow peas yield in Eastern Europe rose slightly to X tons per ha, growing by 4.1% against the year before. Over the period under review, the yield, however, recorded a pronounced slump. The pace of growth appeared the most rapid in 2013 when the yield increased by 97% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the cow peas 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 amounted to X ha in 2022, therefore, remained relatively stable against 2021 figures. Over the period under review, the harvested area continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2015 when the harvested area increased by 100% against the previous year. The level of harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports in Eastern Europe

Cow peas exports soared to X tons in 2022, increasing by 686% compared with 2021 figures. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2014 when exports increased by 5,604% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, cow peas exports surged to $X in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,737%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

The shipments of the one major exporters of cow peas (dry), namely Latvia, represented more than two-thirds of total export.

Latvia was also the fastest-growing in terms of the cow peas (dry) exports, with a CAGR of +46.2% from 2012 to 2022. From 2012 to 2022, the share of Latvia increased by +98 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In Latvia, cow peas exports expanded at an average annual rate of +53.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, falling by -24.5% against the previous year. In general, the export price continues to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2016 when the export price increased by 76% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Latvia.

From 2012 to 2022, the rate of growth in terms of prices for Latvia amounted to +5.1% per year.

Cow Peas Imports

Imports in Eastern Europe

In 2022, imports of cow peas (dry) in Eastern Europe dropped notably to X tons, which is down by -81.7% on the previous year. In general, imports recorded a noticeable setback. The pace of growth was the most pronounced in 2021 with an increase of 490% against the previous year. As a result, imports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, cow peas imports shrank significantly to $X in 2022. Overall, imports saw a mild decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 166%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Bulgaria was the largest importing country with an import of about X tons, which reached 52% of total imports. Russia (X tons) ranks second in terms of the total imports with a 29% share, followed by Ukraine (9%). Poland (X tons) and the Czech Republic (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ukraine (with a CAGR of +87.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X) constitutes the largest market for imported cow peas (dry) in Eastern Europe, comprising 53% of total imports. The second position in the ranking was held by Russia ($X), with a 21% share of total imports. It was followed by Ukraine, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Bulgaria amounted to +19.7%. The remaining importing countries recorded the following average annual rates of imports growth: Russia (-14.1% per year) and Ukraine (+70.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, with an increase of 182% against the previous year. Over the period under review, the import price continues to indicate moderate growth. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($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 Czech Republic (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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