Pakistan: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Pakistan

In 2022, after two years of growth, there was significant decline in the Pakistani taro (cocoyam) market, when its value decreased by -5.3% to $X. In general, consumption saw a pronounced downturn. Taro (cocoyam) consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Taro (Cocoyam) Production in Pakistan

In value terms, taro (cocoyam) production rose significantly to $X in 2022 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, (cocoyam) production decreased by -7.3% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2021 to 2022, (cocoyam) production growth failed to regain momentum.

The average yield of taro in Pakistan stood at less than X kg per ha in 2022, remaining constant against the previous year. Over the period under review, the yield saw 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.

In 2022, the total area harvested in terms of taro production in Pakistan amounted to less than X ha, remaining relatively unchanged against the year before. Overall, the harvested area recorded a relatively flat trend pattern.

Taro (Cocoyam) Exports

Exports from Pakistan

After three years of decline, shipments abroad of taro increased by 7% to X tons in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 203% against the previous year. Over the period under review, the (cocoyam) exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, taro (cocoyam) exports rose modestly to $X in 2022. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 182% against the previous year. Over the period under review, the (cocoyam) exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for taro (cocoyam) exports from Pakistan, accounting for a 53% share of total exports. Moreover, taro (cocoyam) exports to the United Arab Emirates exceeded the volume sent to the second major destination, Canada (X tons), fivefold. The UK (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +85.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+26.4% per year) and the UK (+29.1% per year).

In value terms, the largest markets for taro (cocoyam) exported from Pakistan were the United Arab Emirates ($X), the UK ($X) and Germany ($X), with a combined 72% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +82.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average taro (cocoyam) export price amounted to $X per ton, waning by -3.1% against the previous year. Overall, the export price, however, showed strong growth. The growth pace was the most rapid in 2020 when the average export price increased by 82% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced modestly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Bahrain ($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 the UK (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports into Pakistan

In 2022, supplies from abroad of taro decreased by -8.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 422% against the previous year. Over the period under review, (cocoyam) imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, taro (cocoyam) imports dropped to $X in 2022. In general, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2016 when imports increased by 284% against the previous year. Over the period under review, (cocoyam) imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Afghanistan (X tons) was the main supplier of taro (cocoyam) to Pakistan, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Afghanistan stood at +23.4%.

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

From 2012 to 2022, the average annual growth rate of value from Afghanistan totaled +20.2%.

Import Prices by Country

In 2022, the average taro (cocoyam) import price amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2013 an increase of 67% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for Afghanistan amounted to -2.6% per year.

Source: IndexBox Platform

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