Pakistan: Cow Peas Market 2024

Cow Peas Market Size in Pakistan

In 2022, the Pakistani cow peas market decreased by -7.4% to $X, falling for the second year in a row after two years of growth. Overall, consumption posted a moderate expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Cow Peas Exports

Exports from Pakistan

In 2022, overseas shipments of cow peas (dry) increased by 8.6% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, showed a precipitous setback. The growth pace was the most rapid in 2017 when exports increased by 250% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, cow peas exports totaled $X in 2022. Overall, exports, however, showed a significant contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 244% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for cow peas exports from Pakistan, accounting for a 61% share of total exports. Moreover, cow peas exports to China exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-26.5% per year) and the UK (-19.8% per year).

In value terms, China ($X) remains the key foreign market for cow peas (dry) exports from Pakistan, comprising 65% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total exports. It was followed by the UK, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-27.8% per year) and the UK (-21.2% per year).

Export Prices by Country

The average cow peas export price stood at $X per ton in 2022, which is down by -2.1% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price 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, cow peas export price increased by +39.2% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 52%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Afghanistan ($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 China (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Cow Peas Imports

Imports into Pakistan

Cow peas imports into Pakistan totaled X tons in 2022, growing by 4.8% compared with 2021. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2020 when imports increased by 209%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, cow peas imports shrank to $X in 2022. Over the period under review, imports recorded a slight increase. The growth pace was the most rapid in 2020 with an increase of 292% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Uzbekistan (X tons) constituted the largest cow peas supplier to Pakistan, with a 82% share of total imports. Moreover, cow peas imports from Uzbekistan exceeded the figures recorded by the second-largest supplier, Afghanistan (X tons), more than tenfold. The third position in this ranking was taken by Kenya (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Uzbekistan amounted to +67.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Afghanistan (+14.2% per year) and Kenya (+0.0% per year).

In value terms, Uzbekistan ($X) constituted the largest supplier of cow peas (dry) to Pakistan, comprising 71% of total imports. The second position in the ranking was held by Malaysia ($X), with a 7.7% share of total imports. It was followed by Afghanistan, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Uzbekistan stood at +58.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.9% per year) and Afghanistan (+10.9% per year).

Import Prices by Country

In 2022, the average cow peas import price amounted to $X per ton, with a decrease of -18.2% against the previous year. Overall, the import price saw a pronounced reduction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 47%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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