Nigeria: Cow Peas Market 2024

Cow Peas Market Size in Nigeria

The Nigerien cow peas market dropped to $X in 2022, falling by -5.7% against the previous year. In general, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Cow Peas Production in Nigeria

In value terms, cow peas production reduced to $X in 2022 estimated in export price. Overall, production recorded notable growth. The most prominent rate of growth was recorded in 2016 with an increase of 120% against the previous year. Cow peas production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

In 2022, the average yield of cow peas (dry) in Nigeria amounted to X kg per ha, flattening at the year before. In general, the yield, however, saw a deep contraction. The growth pace was the most rapid in 2016 when the yield increased by 23%. The cow peas yield peaked 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, approx. X ha of cow peas (dry) were harvested in Nigeria; approximately equating the previous year's figure. The harvested area increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. Over the period under review, the harvested area dedicated to cow peas production reached the maximum at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports from Nigeria

Cow peas exports from Nigeria skyrocketed to X tons in 2022, jumping by 42% on 2021 figures. Over the period under review, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 184%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, cow peas exports surged to $X in 2022. In general, exports saw strong growth. The pace of growth was the most pronounced in 2019 when exports increased by 250%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), Canada (X tons) and the United States (X tons) were the main destinations of cow peas exports from Nigeria, with a combined 92% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +58.4%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for cow peas exported from Nigeria were Canada ($X), India ($X) and the United States ($X), together comprising 98% of total exports.

Canada, with a CAGR of +73.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cow peas export price stood at $X per ton in 2022, reducing by -9.3% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% 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 +5.9% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 36%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into Nigeria

After two years of growth, supplies from abroad of cow peas (dry) decreased by -9.2% to X tons in 2022. In general, imports showed a dramatic decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 241% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cow peas imports expanded sharply to $X in 2022. Over the period under review, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 313%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Niger (X tons) was the main cow peas supplier to Nigeria, with a 92% share of total imports. Moreover, cow peas imports from Niger exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Niger stood at -25.5%.

In value terms, Niger ($X) constituted the largest supplier of cow peas (dry) to Nigeria, comprising 61% of total imports. The second position in the ranking was taken by India ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Niger amounted to -22.7%.

Import Prices by Country

In 2022, the average cow peas import price amounted to $X per ton, growing by 16% against the previous year. Overall, the import price recorded a strong increase. The growth pace was the most rapid in 2015 an increase of 56% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Niger stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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