MENA: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in MENA

The MENA's taro (cocoyam) market reached $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Taro (Cocoyam) Production in MENA

In value terms, taro (cocoyam) production reached $X in 2022 estimated in export price. The total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) production decreased by -35.7% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 98% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, (cocoyam) production growth remained at a somewhat lower figure.

The country with the largest volume of taro (cocoyam) production was Egypt (X tons), comprising approx. 99% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Egypt stood at +1.0%.

The average taro (cocoyam) yield was estimated at X tons per ha in 2022, remaining stable against the previous year. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 6.4% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2022, the growth of the taro (cocoyam) yield remained at a somewhat lower figure. 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 amounted to X ha in 2022, flattening at 2021. The harvested area increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 22% against the previous year. The level of harvested area peaked at X ha in 2020; afterwards, it flattened through to 2022.

Taro (Cocoyam) Exports

Exports in MENA

In 2022, exports of taro in MENA skyrocketed to X tons, growing by 319% against the previous year. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 887% against the previous year. Over the period under review, the (cocoyam) exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, taro (cocoyam) exports surged to $X in 2022. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 608% against the previous year. Over the period under review, the (cocoyam) exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Egypt represented the major exporting country with an export of about X tons, which reached 77% of total exports. It was distantly followed by the United Arab Emirates (X tons), generating a 22% share of total exports.

Egypt experienced a relatively flat trend pattern with regard to volume of exports of taro. At the same time, the United Arab Emirates (+37.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +37.8% from 2012-2022. From 2012 to 2022, the share of Egypt increased by +77 percentage points.

In value terms, Egypt ($X) emerged as the largest taro (cocoyam) supplier in MENA, comprising 84% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports.

In Egypt, taro (cocoyam) exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 36% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, taro (cocoyam) export price increased by +99.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 47%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.4%).

Taro (Cocoyam) Imports

Imports in MENA

In 2022, taro (cocoyam) imports in MENA fell to X tons, reducing by -5.6% compared with the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 134%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of (cocoyam) imports remained at a somewhat lower figure.

In value terms, taro (cocoyam) imports dropped to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) imports decreased by -8.4% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 56% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of (cocoyam) imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was approx. 67% of total imports in 2022. Oman (X tons) held the second position in the ranking, followed by Kuwait (X tons), Qatar (X tons) and Bahrain (X tons). All these countries together took near 31% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -1.5% from 2012 to 2022. At the same time, Bahrain (+108.5%), Qatar (+32.8%), Kuwait (+27.3%) and Oman (+23.3%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of +108.5% from 2012-2022. Oman (+8.3 p.p.), Kuwait (+7.8 p.p.), Qatar (+7.7 p.p.) and Bahrain (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -14.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported taro in MENA, comprising 54% of total imports. The second position in the ranking was taken by Qatar ($X), with a 14% share of total imports. It was followed by Oman, with an 11% share.

In the United Arab Emirates, taro (cocoyam) imports decreased by an average annual rate of -2.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+55.3% per year) and Oman (+40.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by 2.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 52% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+17.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform