Middle East: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in the Middle East

The Middle Eastern taro (cocoyam) market reduced modestly to $X in 2022, with a decrease of -2.4% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Taro (Cocoyam) Production in the Middle East

In value terms, taro (cocoyam) production reached $X in 2022 estimated in export price. In general, production, however, recorded a measured increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 4,824%. As a result, production attained the peak level of $X. From 2019 to 2022, (cocoyam) production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Turkey (X tons), Lebanon (X tons) and Palestine (X tons), together comprising 98% of total production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +0.4%), while production for the other leaders experienced a decline in the production figures.

In 2022, the average taro (cocoyam) yield in the Middle East was estimated at X tons per ha, remaining stable against the year before. Over the period under review, the yield, however, saw a slight descent. The pace of growth appeared the most rapid in 2016 with an increase of 4.3%. Over the period under review, the taro (cocoyam) yield reached the maximum level at X tons per ha in 2014; however, from 2015 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.

The taro (cocoyam) harvested area shrank slightly to X ha in 2022, approximately reflecting the year before. Overall, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the harvested area increased by 9.1% against the previous year. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Taro (Cocoyam) Exports

Exports in the Middle East

In 2022, overseas shipments of taro decreased by -1.8% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 889% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, taro (cocoyam) exports dropped to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 608%. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X tons, which was approx. 95% of total exports in 2022. Jordan (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to taro (cocoyam) exports from the United Arab Emirates stood at +37.8%. At the same time, Jordan (+43.4%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +43.4% from 2012-2022. The United Arab Emirates (+8.9 p.p.) and Jordan (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest taro (cocoyam) supplier in the Middle East, comprising 88% of total exports. The second position in the ranking was taken by Jordan ($X), with a 4.5% share of total exports.

In the United Arab Emirates, taro (cocoyam) exports increased at an average annual rate of +34.5% over the period from 2012-2022.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, declining by -9.4% against the previous year. Overall, the export price continues to indicate a mild setback. The pace of growth was the most pronounced in 2021 an increase of 47% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Jordan ($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 Jordan (+26.3%).

Taro (Cocoyam) Imports

Imports in the Middle East

In 2022, imports of taro in the Middle East contracted to X tons, dropping by -5.6% compared with the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 134% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of (cocoyam) imports failed to regain momentum.

In value terms, taro (cocoyam) imports dropped to $X in 2022. Total imports indicated a mild expansion 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 most prominent rate of growth was recorded in 2015 with an increase of 56% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of (cocoyam) imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, accounting for X tons, which was near 67% of total imports in 2022. It was distantly followed by Oman (X tons), Kuwait (X tons), Qatar (X tons) and Bahrain (X tons), together constituting a 31% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to taro (cocoyam) imports into the United Arab Emirates stood at -1.5%. 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 the Middle East, with a CAGR of +108.5% from 2012-2022. While the share of Oman (+8.3 p.p.), Kuwait (+7.8 p.p.), Qatar (+7.7 p.p.) and Bahrain (+5.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-14.4 p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -2.4%. In the other countries, the average annual rates were as follows: Qatar (+55.3% per year) and Oman (+40.2% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, growing by 2.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 52%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained 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 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

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