India: Cow Peas Market 2024

Cow Peas Market Size in India

In 2022, the Indian cow peas market increased by 1,126% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a abrupt setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cow Peas Production in India

In value terms, cow peas production totaled $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in years to come.

In 2022, the average cow peas yield in India amounted to less than X kg per ha, therefore, remained relatively stable against 2021 figures. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of cow peas (dry) were harvested in India; stabilizing at 2021. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Cow Peas Exports

Exports from India

In 2022, the amount of cow peas (dry) exported from India contracted rapidly to X tons, waning by -35.1% compared with the previous year. Overall, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 878% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cow peas exports shrank remarkably to $X in 2022. In general, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 690%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Canada (X tons) and the United Arab Emirates (X tons) were the main destinations of cow peas exports from India, together comprising 47% of total exports. China, Mexico, Nepal, the UK, Germany, the Netherlands, Vietnam, Malaysia and Singapore lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +262.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for cow peas (dry) exports from India, comprising 29% of total exports. The second position in the ranking was held by Canada ($X), with a 13% share of total exports. It was followed by Mexico, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +45.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+45.7% per year) and Mexico (+296.9% per year).

Export Prices by Country

In 2022, the average cow peas export price amounted to $X per ton, which is down by -1.5% against the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.5% 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 +50.8% against 2018 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 33%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Nepal ($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 Mexico (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into India

In 2022, purchases abroad of cow peas (dry) was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, faced a abrupt curtailment. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cow peas imports skyrocketed to $X in 2022. In general, imports, however, showed a drastic downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest cow peas supplier to India, accounting for a 51% share of total imports. Moreover, cow peas imports from Brazil exceeded the figures recorded by the second-largest supplier, Afghanistan (X tons), twofold. The third position in this ranking was held by Madagascar (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Afghanistan (-3.5% per year) and Madagascar (-17.7% per year).

In value terms, Brazil ($X), Afghanistan ($X) and Madagascar ($X) were the largest cow peas suppliers to India, together accounting for 87% of total imports. The United Arab Emirates, Nigeria and Myanmar lagged somewhat behind, together accounting for a further 9.8%.

Nigeria, with a CAGR of +4.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cow peas import price amounted to $X per ton, surging by 20% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cow peas import price increased by +47.5% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Afghanistan ($X per ton) and the United Arab Emirates ($X per ton), while the price for Nigeria ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+29.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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