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Myanmar - Taro - Market Analysis, Forecast, Size, Trends and Insights

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Myanmar: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Myanmar

In 2022, the Myanmar's taro (cocoyam) market decreased by -96.4% to $X, falling for the second consecutive year after two years of growth. In general, consumption showed a significant decrease. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Taro (Cocoyam) Production in Myanmar

In value terms, taro (cocoyam) production reduced remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable slump. The growth pace was the most rapid in 2021 when the production volume increased by 523% against the previous year. Over the period under review, (cocoyam) production attained the peak level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

The average yield of taro in Myanmar amounted to less than X kg per ha in 2022, approximately mirroring 2021 figures. Over the period under review, the yield recorded a relatively flat trend pattern. 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 in Myanmar totaled less than X ha in 2022, therefore, remained relatively stable against the previous year's figure. Overall, the harvested area continues to indicate a relatively flat trend pattern.

Taro (Cocoyam) Exports

Exports from Myanmar

In 2022, exports of taro from Myanmar skyrocketed to X tons, increasing by 455% compared with 2021 figures. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2021 when exports increased by 1,418%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, taro (cocoyam) exports soared to $X in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 847%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Bangladesh (X tons) was the main destination for taro (cocoyam) exports from Myanmar, with a 90% share of total exports. Moreover, taro (cocoyam) exports to Bangladesh exceeded the volume sent to the second major destination, China (X tons), tenfold.

From 2013 to 2022, the average annual growth rate of volume to Bangladesh was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+60.1% per year) and South Korea (-12.1% per year).

In value terms, Bangladesh ($X) emerged as the key foreign market for taro exports from Myanmar, comprising 72% of total exports. The second position in the ranking was held by China ($X), with a 22% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Bangladesh was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+46.9% per year) and South Korea (-6.6% per year).

Export Prices by Country

In 2022, the average taro (cocoyam) export price amounted to $X per ton, shrinking by -73.7% against the previous year. In general, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+9.5%), while the prices for the other major destinations experienced mixed trend patterns.

Taro (Cocoyam) Imports

Imports into Myanmar

In 2022, after three years of growth, there was significant decline in purchases abroad of taro, when their volume decreased by -78.8% to X tons. Over the period under review, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 164%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of (cocoyam) imports remained at a somewhat lower figure.

In value terms, taro (cocoyam) imports reduced rapidly to $X in 2022. In general, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of 372% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of (cocoyam) imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) was the main taro (cocoyam) supplier to Myanmar, accounting for a approx. 100% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +36.4%.

In value terms, Thailand ($X) constituted the largest supplier of taro to Myanmar.

From 2013 to 2022, the average annual rate of growth in terms of value from Thailand stood at +59.2%.

Import Prices by Country

In 2022, the average taro (cocoyam) import price amounted to $X per ton, picking up by 270% against the previous year. Overall, the import price continues to indicate noticeable growth. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2013 to 2022, the rate of growth in terms of prices for Thailand amounted to +16.7% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for taro in the world?

The countries with the highest volumes of taro cocoyam) consumption in 2020 were Nigeria, Cameroon and China, with a combined 56% share of global consumption. Ethiopia, Ghana, Papua New Guinea, Burundi, Madagascar and Rwanda lagged somewhat behind, together comprising a further 31%.

What are the largest producers of taro in the world?

The countries with the highest volumes of taro cocoyam) production in 2020 were Nigeria, China and Cameroon, together comprising 57% of global production. These countries were followed by Ethiopia, Ghana, Papua New Guinea and Burundi, which together accounted for a further 27%.

What are the leading suppliers of taro to Myanmar?

In value terms, Bangladesh constituted the largest supplier of taro cocoyam) to Myanmar.

What are the leading importers of taro from Myanmar?

In value terms, South Korea remains the key foreign market for taro cocoyam) exports from Myanmar.

What is the average export price for taro in Myanmar?

In 2020, the average taro cocoyam) export price amounted to $1,059 per ton, declining by -17.3% against the previous year.

What is the average import price for taro in Myanmar?

In 2020, the average taro cocoyam) import price amounted to $508 per ton, declining by -40.2% against the previous year.

This report provides an in-depth analysis of the taro (cocoyam) market in Myanmar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 136 - Taro (Cocoyam)

Country coverage:

Myanmar

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Myanmar
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023