India: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in India

The Indian taro (cocoyam) market fell to $X in 2022, leveling off at the previous year. In general, consumption, however, faced a precipitous decline. Taro (cocoyam) consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Taro (Cocoyam) Production in India

In value terms, taro (cocoyam) production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 14% against the previous year. Over the period under review, (cocoyam) production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of taro in India was estimated at less than X kg per ha in 2022, flattening at 2021. Over the period under review, the yield recorded 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.

The taro (cocoyam) harvested area in India amounted to less than X ha in 2022, stabilizing at 2021 figures. Over the period under review, the harvested area saw a relatively flat trend pattern.

Taro (Cocoyam) Exports

Exports from India

In 2022, after two years of growth, there was decline in overseas shipments of taro, when their volume decreased by -1.2% to X tons. In general, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 3,209%. Over the period under review, the (cocoyam) exports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, taro (cocoyam) exports expanded sharply to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 3,353% against the previous year. Over the period under review, the (cocoyam) exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for taro (cocoyam) exports from India, with a 60% share of total exports. Moreover, taro (cocoyam) exports to the United Arab Emirates exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was held by Kuwait (X tons), with an 11% share.

From 2014 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +124.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+98.5% per year) and Kuwait (+21.7% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for taro exports from India, comprising 57% of total exports. The second position in the ranking was held by the UK ($X), with a 20% share of total exports. It was followed by Kuwait, with a 6.9% share.

From 2014 to 2022, the average annual growth rate of value to the United Arab Emirates totaled +128.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+85.2% per year) and Kuwait (+25.4% per year).

Export Prices by Country

In 2022, the average taro (cocoyam) export price amounted to $X per ton, growing by 8.7% against the previous year. Over the last eight-year period, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2016 an increase of 77%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Bhutan ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bhutan (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports into India

In 2022, imports of taro into India shrank notably to X tons, falling by -65.9% compared with the previous year. Overall, imports showed a sharp reduction. The pace of growth was the most pronounced in 2020 with an increase of 2,301%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, taro (cocoyam) imports shrank notably to $X in 2022. In general, imports saw a sharp decline. The smallest decline of -20% was in 2013. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) was the main supplier of taro (cocoyam) to India, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled -41.2%.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of taro to India.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) amounted to -37.8%.

Import Prices by Country

In 2022, the average taro (cocoyam) import price amounted to $X per ton, shrinking by -8.2% against the previous year. Over the period under review, the import price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 4,711%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Taiwan (Chinese).

From 2012 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to +5.7% per year.

Source: IndexBox Platform

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