MERCOSUR: Cow Peas Market 2025

Cow Peas Market Size in MERCOSUR

The MERCOSUR cow peas market skyrocketed to $X in 2022, increasing by 22% against the previous year. Overall, consumption, however, saw a mild descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cow Peas Production in MERCOSUR

In value terms, cow peas production amounted to $X in 2022 estimated in export price. Overall, production recorded a pronounced downturn. The pace of growth was the most pronounced in 2019 when the production volume increased by 14%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Brazil (X tons) constituted the country with the largest volume of cow peas production, comprising approx. 57% of total volume. Moreover, cow peas production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), twofold. The third position in this ranking was held by Argentina (X tons), with a 16% share.

In Brazil, cow peas production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (-5.5% per year) and Argentina (+0.7% per year).

The average cow peas yield expanded remarkably to X tons per ha in 2022, rising by 10% compared with the previous year. The yield indicated noticeable growth from 2012 to 2022: its figure increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cow peas yield decreased by -11.3% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 43% against the previous year. Over the period under review, the cow peas yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the yield stood 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.

In 2022, approx. X ha of cow peas (dry) were harvested in MERCOSUR; shrinking by -13.8% against 2021 figures. In general, the harvested area saw a deep contraction. The most prominent rate of growth was recorded in 2021 when the harvested area increased by 38% against the previous year. Over the period under review, the harvested area dedicated to cow peas production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Cow Peas Exports

Exports in MERCOSUR

For the fifth year in a row, MERCOSUR recorded decline in shipments abroad of cow peas (dry), which decreased by -64.3% to X tons in 2022. Overall, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 415%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, cow peas exports declined sharply to $X in 2022. In general, exports showed a perceptible reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 224%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Peru dominates exports structure, amounting to X tons, which was approx. 75% of total exports in 2022. Brazil (X tons) held the second position in the ranking, followed by Argentina (X tons). All these countries together took near 18% share of total exports. Venezuela (X tons), Ecuador (X tons) and Colombia (X tons) took a little 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 MERCOSUR, with a CAGR of +13.7% from 2012-2022. By contrast, Ecuador (-9.9%), Argentina (-10.0%) and Brazil (-20.7%) illustrated a downward trend over the same period. While the share of Peru (+39 p.p.), Venezuela (+2.3 p.p.) and Colombia (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Argentina (-4.1 p.p.) and Brazil (-36.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest cow peas supplier in MERCOSUR, comprising 80% of total exports. The second position in the ranking was taken by Brazil ($X), with a 6.4% share of total exports. It was followed by Argentina, with a 5.4% 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: Brazil (-17.9% per year) and Argentina (-12.5% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, surging by 12% against the previous year. Export price indicated a measured increase 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, cow peas export price increased by +145.1% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 49% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 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 MERCOSUR

Cow peas imports dropped markedly to X tons in 2022, which is down by -29.7% compared with 2021. Overall, imports saw a slight decrease. The most prominent rate of growth was recorded in 2019 with an increase of 71% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cow peas imports fell significantly to $X in 2022. In general, imports showed a noticeable descent. The pace of growth was the most pronounced in 2019 when imports increased by 67%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Venezuela (X tons) represented the key importer of cow peas (dry), achieving 46% of total imports. It was distantly followed by Guyana (X tons), Colombia (X tons), Peru (X tons) and Chile (X tons), together achieving a 46% share of total imports. The following importers - Argentina (X tons) and Brazil (X tons) - each finished at a 6.2% share of total imports.

Venezuela experienced a relatively flat trend pattern with regard to volume of imports of cow peas (dry). At the same time, Guyana (+77.0%), Brazil (+40.5%), Peru (+13.9%) and Argentina (+9.2%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +77.0% from 2012-2022. By contrast, Colombia (-8.9%) and Chile (-12.4%) illustrated a downward trend over the same period. While the share of Guyana (+18 p.p.), Venezuela (+7.1 p.p.), Peru (+6.5 p.p.), Brazil (+2.9 p.p.) and Argentina (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (-12.4 p.p.) and Colombia (-17.7 p.p.) displayed negative dynamics.

In value terms, the largest cow peas importing markets in MERCOSUR were Venezuela ($X), Guyana ($X) and Colombia ($X), with a combined 77% share of total imports.

Guyana, with a CAGR of +72.0%, recorded the highest growth rate of the value of imports, among 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 2022, the import price in MERCOSUR amounted to $X per ton, rising by 1.8% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2020 when the import price increased by 13%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform