Southern Asia: Cow Peas Market 2024

Cow Peas Market Size in Southern Asia

The South Asian cow peas market reduced rapidly to $X in 2022, declining by -30.9% against the previous year. In general, consumption, however, continues to indicate pronounced growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Cow Peas Production in Southern Asia

In value terms, cow peas production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep slump. The growth pace was the most rapid in 2016 when the production volume increased by 63%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The country with the largest volume of cow peas production was Sri Lanka (X tons), accounting for 99% of total volume.

In Sri Lanka, cow peas production plunged by an average annual rate of -1.5% over the period from 2012-2022.

In 2022, the average cow peas yield in Southern Asia reached X tons per ha, approximately equating the year before. Overall, the yield, however, showed a abrupt setback. The pace of growth was the most pronounced in 2016 when the yield increased by 22% against the previous year. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. 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 Southern Asia; with an increase of 5.2% compared with the year before. In general, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 60% against the previous year. The level of harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports in Southern Asia

After five years of growth, shipments abroad of cow peas (dry) decreased by -43.4% to X tons in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 7,442% against the previous year. The volume of export peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, cow peas exports dropped dramatically to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 4,487%. Over the period under review, the exports reached the peak figure at $X in 2021, and then plummeted in the following year.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2022.

India was also the fastest-growing in terms of the cow peas (dry) exports, with a CAGR of +91.4% from 2012 to 2022. India (+99 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest cow peas supplier in Southern Asia.

In India, cow peas exports increased at an average annual rate of +81.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, dropping by -14.3% against the previous year. Overall, the export price saw a abrupt contraction. The growth pace was the most rapid in 2020 when the export price increased by 24%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -4.9% per year.

Cow Peas Imports

Imports in Southern Asia

Cow peas imports contracted remarkably to X tons in 2022, waning by -39.9% compared with 2021 figures. Over the period under review, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 409%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, cow peas imports declined dramatically to $X in 2022. Overall, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 375%. The level of import peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, India (X tons) was the key importer of cow peas (dry), generating 84% of total imports. It was distantly followed by Pakistan (X tons), making up a 13% share of total imports. Nepal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to cow peas imports into India stood at +18.2%. At the same time, Nepal (+32.1%) and Pakistan (+16.3%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +32.1% from 2012-2022. While the share of India (+84 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (-49.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cow peas (dry) in Southern Asia, comprising 83% of total imports. The second position in the ranking was held by Pakistan ($X), with a 14% share of total imports.

In India, cow peas imports expanded at an average annual rate of +19.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+18.3% per year) and Nepal (+34.0% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, which is down by -10.1% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 38%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nepal ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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