Myanmar: Cow Peas Market 2024

Cow Peas Market Size in Myanmar

The Myanmar's cow peas market reduced remarkably to $X in 2022, dropping by -23.6% against the previous year. In general, consumption showed a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cow Peas Production in Myanmar

In value terms, cow peas production fell slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 42%. Cow peas production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The average yield of cow peas (dry) in Myanmar shrank to X kg per ha in 2022, remaining stable against the year before. Over the period under review, the yield recorded a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 2.7% against the previous year. Over the period under review, the average cow peas yield hit record highs at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cow peas (dry) in Myanmar stood at X ha, approximately reflecting the previous year's figure. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the harvested area increased by 1.4% against the previous year. Over the period under review, the harvested area dedicated to cow peas production reached the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports from Myanmar

In 2022, shipments abroad of cow peas (dry) increased by 2,762% to X tons, rising for the second consecutive year after three years of decline. Overall, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cow peas exports surged to $X in 2022. Over the period under review, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for cow peas exports from Myanmar, with a 59% share of total exports. Moreover, cow peas exports to China exceeded the volume sent to the second major destination, India (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with an 11% share.

From 2015 to 2022, the average annual rate of growth in terms of volume to China totaled +253.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+129.4% per year) and South Korea (+103.0% per year).

In value terms, China ($X) emerged as the key foreign market for cow peas (dry) exports from Myanmar, comprising 59% of total exports. The second position in the ranking was taken by India ($X), with a 16% share of total exports. It was followed by South Korea, with a 14% share.

From 2015 to 2022, the average annual growth rate of value to China amounted to +284.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+133.1% per year) and South Korea (+119.3% per year).

Export Prices by Country

The average cow peas export price stood at $X per ton in 2022, dropping by -14% against the previous year. Overall, the export price, however, showed a temperate expansion. The growth pace was the most rapid in 2021 when the average export price increased by 31% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

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

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into Myanmar

In 2022, purchases abroad of cow peas (dry) decreased by 0% to X kg, falling for the second year in a row after two years of decline. Over the period under review, imports faced a dramatic shrinkage. The smallest decline of 99.9% was in 2021. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, cow peas imports stood at $X in 2022. Overall, imports continue to indicate a significant contraction. The smallest decline of 99.9% was in 2021. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Madagascar (X kg) was the main supplier of cow peas to Myanmar, accounting for a approx. 100% share of total imports.

From 2015 to 2022, the average annual growth rate of volume from Madagascar stood at -41.0%.

In value terms, Madagascar ($X) constituted the largest supplier of cow peas (dry) to Myanmar.

From 2015 to 2022, the average annual rate of growth in terms of value from Madagascar stood at -41.1%.

Import Prices by Country

In 2022, the average cow peas import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2021 a decrease of 99.9%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Madagascar.

From 2015 to 2022, the rate of growth in terms of prices for Madagascar amounted to -0.0% per year.

Source: IndexBox Platform

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