ECOWAS: Cow Peas Market 2024

Cow Peas Market Size in ECOWAS

The ECOWAS cow peas market contracted slightly to $X in 2021, reducing by -3.9% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Cow Peas Production in ECOWAS

In value terms, cow peas production fell to $X in 2021 estimated in export price. In general, production recorded a noticeable contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

The countries with the highest volumes of production in 2021 were Nigeria (X tons), Niger (X tons) and Burkina Faso (X tons), with a combined 92% share of total production. Mali, Ghana and Senegal lagged somewhat behind, together accounting for a further 8.2%.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Senegal (with a CAGR of +15.0%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average yield of cow peas (dry) in ECOWAS shrank to X kg per ha, almost unchanged from 2020 figures. Overall, the yield continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 with an increase of 19%. Over the period under review, the cow peas yield reached the maximum level at X kg per ha in 2012; however, from 2013 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 total area harvested in terms of cow peas (dry) production in ECOWAS fell slightly to X ha, stabilizing at the previous year. The harvested area increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2016 when the harvested area increased by 14%. The level of harvested area peaked at X ha in 2017; however, from 2018 to 2021, the harvested area stood at a somewhat lower figure.

Cow Peas Exports

Exports in ECOWAS

In 2021, shipments abroad of cow peas (dry) decreased by -13.7% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, posted perceptible growth. The growth pace was the most rapid in 2014 with an increase of 44%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, cow peas exports rose sharply to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 53%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Senegal was the key exporting country with an export of around X tons, which recorded 43% of total exports. Togo (X tons) ranks second in terms of the total exports with a 27% share, followed by Ghana (20%) and Benin (9.2%). Niger (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Niger (with a CAGR of +15.4%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest cow peas supplier in ECOWAS, comprising 53% of total exports. The second position in the ranking was taken by Togo ($X), with a 22% share of total exports. It was followed by Ghana, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Senegal stood at +1.8%. In the other countries, the average annual rates were as follows: Togo (-5.0% per year) and Ghana (-3.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, with an increase of 25% against the previous year. In general, the export price, however, recorded a pronounced shrinkage. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Senegal ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+5.2%), while the other leaders experienced a decline in the export price figures.

Cow Peas Imports

Imports in ECOWAS

In 2021, the amount of cow peas (dry) imported in ECOWAS shrank remarkably to X tons, which is down by -36.7% on the previous year's figure. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when imports increased by 65% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, cow peas imports shrank sharply to $X in 2021. In general, imports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2018 with an increase of 78%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Guinea-Bissau was the main importing country with an import of about X tons, which finished at 52% of total imports. Ghana (X tons) held the second position in the ranking, distantly followed by Cabo Verde (X tons) and Mali (X tons). All these countries together took approx. 47% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cabo Verde (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Guinea-Bissau ($X) constitutes the largest market for imported cow peas (dry) in ECOWAS, comprising 50% of total imports. The second position in the ranking was held by Ghana ($X), with a 25% share of total imports. It was followed by Cabo Verde, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Guinea-Bissau totaled +11.8%. In the other countries, the average annual rates were as follows: Ghana (-2.9% per year) and Cabo Verde (+20.7% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, with an increase of 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Cabo Verde ($X per ton) and Mali ($X per ton), while Ghana ($X per ton) and Guinea-Bissau ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea-Bissau (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform