Latin America and the Caribbean: Cow Peas Market 2025

Cow Peas Market Size in Latin America and the Caribbean

The Latin American cow peas market skyrocketed to $X in 2022, picking up by 18% against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Cow Peas Production in Latin America and the Caribbean

In value terms, cow peas production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 12%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), Haiti (X tons) and Peru (X tons), together accounting for 76% of total production. Argentina, Bolivia and Mexico lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +1.6%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of cow peas (dry) in Latin America and the Caribbean amounted to X tons per ha, standing approx. at 2021. The yield figure increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 6.7%. Over the period under review, the cow peas yield attained the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of cow peas (dry) production in Latin America and the Caribbean fell slightly to X ha, which is down by -3.9% compared with the previous year's figure. Overall, the harvested area continues to indicate a slight slump. The pace of growth was the most pronounced in 2021 with an increase of 8.3% against the previous year. Over the period under review, the harvested area dedicated to cow peas production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports in Latin America and the Caribbean

In 2022, the amount of cow peas (dry) exported in Latin America and the Caribbean reduced markedly to X tons, declining by -59.6% compared with 2021. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 327%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, cow peas exports reduced rapidly to $X in 2022. Over the period under review, exports recorded a perceptible downturn. The growth pace was the most rapid in 2017 with an increase of 187% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Peru was the largest exporting country with an export of around X tons, which accounted for 65% of total exports. It was distantly followed by Belize (X tons), Brazil (X tons) and Argentina (X tons), together creating a 26% share of total exports. The following exporters - Venezuela (X tons), Ecuador (X tons) and Colombia (X tons) - each amounted to a 6.5% share of total exports.

Peru experienced a relatively flat trend pattern with regard to volume of exports of cow peas (dry). At the same time, Venezuela (+13.7%) and Colombia (+5.6%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +13.7% from 2012-2022. Belize experienced a relatively flat trend pattern. By contrast, Ecuador (-9.9%), Argentina (-10.0%) and Brazil (-20.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Peru, Belize and Venezuela increased by +32, +10 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest cow peas supplier in Latin America and the Caribbean, comprising 70% of total exports. The second position in the ranking was held by Belize ($X), with a 10% share of total exports. It was followed by Brazil, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value in Peru was relatively modest. In the other countries, the average annual rates were as follows: Belize (0.0% per year) and Brazil (-17.9% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 10% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 +139.2% against 2018 indices. The growth pace was the most rapid in 2016 when the export price increased by 40% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Cow Peas Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of cow peas (dry) were imported in Latin America and the Caribbean; growing by 14% against the previous year's figure. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -25.0% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 117% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, cow peas imports skyrocketed to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -24.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 82% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Dominican Republic represented the main importer of cow peas (dry) in Latin America and the Caribbean, with the volume of imports reaching X tons, which was approx. 59% of total imports in 2022. It was distantly followed by Haiti (X tons), comprising a 27% share of total imports. The following importers - Venezuela (X tons) and Guyana (X tons) - together made up 5.4% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cow peas imports into the Dominican Republic stood at +1.5%. At the same time, Guyana (+77.0%) and Haiti (+15.2%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +77.0% from 2012-2022. Venezuela experienced a relatively flat trend pattern. From 2012 to 2022, the share of Haiti and Guyana increased by +18 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Dominican Republic ($X), Haiti ($X) and Venezuela ($X) were the countries with the highest levels of imports in 2022, together comprising 88% of total imports. Guyana lagged somewhat behind, accounting for a further 1.8%.

In terms of the main importing countries, Guyana, with a CAGR of +72.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 6.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 22% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Guyana ($X per ton) and Haiti ($X per ton), while Venezuela ($X per ton) and the Dominican Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Haiti (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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