Southern Asia: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Southern Asia

The South Asian taro (cocoyam) market skyrocketed to $X in 2022, growing by 72% against the previous year. In general, consumption, however, continues to indicate a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Taro (Cocoyam) Production in Southern Asia

In value terms, taro (cocoyam) production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 23%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Bangladesh (X tons), Sri Lanka (X tons) and India (X tons), together comprising 89% of total production. Pakistan and Afghanistan lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Afghanistan (with a CAGR of +2.3%), while production for the other leaders experienced more modest paces of growth.

The average taro (cocoyam) yield was estimated at X tons per ha in 2022, remaining relatively unchanged against the year before. In general, the yield enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when the yield increased by 199%. Over the period under review, the taro (cocoyam) yield reached the maximum level at X tons per ha in 2020; afterwards, it flattened through to 2022. 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 was estimated at X ha in 2022, leveling off at the previous year's figure. Overall, the harvested area recorded a precipitous slump. The pace of growth was the most pronounced in 2016 with a decrease of -14.3% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Taro (Cocoyam) Exports

Exports in Southern Asia

In 2022, approx. X tons of taro were exported in Southern Asia; which is down by -24.9% compared with the previous year. Over the period under review, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 198%. The volume of export peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, taro (cocoyam) exports fell remarkably to $X in 2022. Overall, exports, however, recorded a significant increase. The growth pace was the most rapid in 2018 when exports increased by 111% against the previous year. The level of export peaked at $X in 2021, and then fell remarkably in the following year.

Exports by Country

In 2022, Bangladesh (X tons) represented the major exporter of taro, making up 73% of total exports. India (X tons) ranks second in terms of the total exports with a 16% share, followed by Pakistan (8.9%). Afghanistan (X tons) followed a long way behind the leaders.

Exports from Bangladesh increased at an average annual rate of +45.3% from 2012 to 2022. At the same time, India (+53.1%), Pakistan (+23.6%) and Afghanistan (+23.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +53.1% from 2012-2022. While the share of Bangladesh (+60 p.p.) and India (+16 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) remains the largest taro (cocoyam) supplier in Southern Asia, comprising 81% of total exports. The second position in the ranking was held by Pakistan ($X), with an 11% share of total exports. It was followed by India, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Bangladesh stood at +53.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+33.2% per year) and India (+54.8% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, increasing by 3% against the previous year. Overall, the export price showed a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 28% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India ($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 (+7.8%), while the other leaders experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports in Southern Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of taro, when their volume decreased by -25.9% to X tons. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. Over the period under review, (cocoyam) imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, taro (cocoyam) imports declined notably to $X in 2022. In general, imports saw a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of 17% against the previous year. Over the period under review, (cocoyam) imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Maldives (X tons) and Pakistan (X tons) prevails in imports structure, together making up 96% of total imports. India (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +23.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Maldives ($X) constitutes the largest market for imported taro in Southern Asia, comprising 74% of total imports. The second position in the ranking was held by Pakistan ($X), with a 22% share of total imports.

In Maldives, taro (cocoyam) imports contracted by an average annual rate of -11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+20.2% per year) and India (-37.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with an increase of 14% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 an increase of 55% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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