EU: Cow Peas Market 2024

Cow Peas Market Size in the EU

The EU cow peas market surged to $X in 2021, picking up by 18% against the previous year. In general, consumption, however, saw a remarkable increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cow Peas Production in the EU

In value terms, cow peas production reduced to $X in 2021 estimated in export price. Over the period under review, production recorded a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by 31% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell modestly in the following year.

The countries with the highest volumes of production in 2021 were Latvia (X tons), Croatia (X tons) and Hungary (X tons), together accounting for 97% of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Latvia (with a CAGR of +343.8%), while production for the other leaders experienced mixed trends in the production figures.

The average cow peas yield surged to X tons per ha in 2021, with an increase of 44% on the year before. Over the period under review, the yield enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 when the yield increased by 86%. The level of yield peaked in 2021 and is likely to see steady growth in years to come. 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 fell modestly to X ha in 2021, declining by -4.6% on 2020. The total harvested area indicated a pronounced expansion from 2012 to 2021: its figure increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cow peas harvested area decreased by -18.4% against 2016 indices. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 91%. As a result, the harvested area attained the peak level of X ha. From 2017 to 2021, the growth of the cow peas harvested area remained at a somewhat lower figure.

Cow Peas Exports

Exports in the EU

In 2021, approx. X tons of cow peas (dry) were exported in the European Union; jumping by 113% against the previous year. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 250%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, cow peas exports surged to $X in 2021. In general, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Latvia dominates exports structure, recording X tons, which was approx. 71% of total exports in 2021. The Netherlands (X tons) took the second position in the ranking, followed by Hungary (X tons). All these countries together took near 13% share of total exports. Portugal (X tons), Italy (X tons), Greece (X tons) and Belgium (X tons) followed a long way behind the leaders.

Latvia was also the fastest-growing in terms of the cow peas (dry) exports, with a CAGR of +347.1% from 2012 to 2021. At the same time, Greece (+74.9%), Belgium (+52.0%), Hungary (+50.8%), Portugal (+46.4%), the Netherlands (+23.5%) and Italy (+20.8%) displayed positive paces of growth. From 2012 to 2021, the share of Latvia, the Netherlands, Hungary, Greece, Portugal and Belgium increased by +71, +6.9, +3.4, +2.5, +1.7 and +1.7 percentage points, respectively.

In value terms, Latvia ($X), the Netherlands ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2021, with a combined 68% share of total exports.

Among the main exporting countries, Latvia, with a CAGR of +232.3%, saw 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 export price in the European Union stood at $X per ton in 2021, waning by -7.3% against the previous year. Overall, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2015 an increase of 83% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Cow Peas Imports

Imports in the EU

In 2021, cow peas imports in the European Union expanded markedly to X tons, with an increase of 8.3% against the previous year. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 147% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, cow peas imports skyrocketed to $X in 2021. Overall, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 117% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Portugal (X tons), Italy (X tons), Greece (X tons), Spain (X tons) and the Netherlands (X tons) represented the largest importer of cow peas (dry) in the European Union, comprising 85% of total import. It was distantly followed by France (X tons), making up a 4.9% share of total imports. Germany (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +57.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Italy ($X) and Greece ($X) were the countries with the highest levels of imports in 2021, together accounting for 60% of total imports. These countries were followed by Spain, the Netherlands, France and Germany, which together accounted for a further 33%.

The Netherlands, with a CAGR of +62.1%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, with an increase of 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. 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 Germany ($X per ton) and the Netherlands ($X per ton), while Portugal ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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