U.S.: Cow Peas Market 2024

Cow Peas Market Size in the U.S.

In 2021, the U.S. cow peas market decreased by -12.5% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, posted a significant increase. Cow peas consumption peaked at $X in 2020, and then shrank in the following year.

Cow Peas Production in the U.S.

In value terms, cow peas production contracted to $X in 2021. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

In 2021, the average cow peas yield in the United States stood at X tons per ha, growing by 2.6% against 2020. The yield figure increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the yield increased by 26% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2021, the growth of the average cow peas 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 2021, the harvested area of cow peas (dry) in the United States shrank to X ha, with a decrease of -14.3% compared with 2020. In general, the harvested area recorded a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 40% against the previous year. Over the period under review, the harvested area dedicated to cow peas production reached the peak figure at X ha in 2013; however, from 2014 to 2021, the harvested area remained at a lower figure.

Cow Peas Exports

Exports from the U.S.

For the third year in a row, the United States recorded decline in shipments abroad of cow peas (dry), which decreased by -6% to X tons in 2021. Overall, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 48% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cow peas exports declined slightly to $X in 2021. In general, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2019 when exports increased by 44% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons), the UK (X tons) and Australia (X tons) were the main destinations of cow peas exports from the United States, with a combined 54% share of total exports.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +33.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cow peas exported from the United States were Canada ($X), the UK ($X) and Australia ($X), together comprising 51% of total exports.

Among the main countries of destination, Canada, with a CAGR of +45.1%, saw 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 2021, the average cow peas export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 80%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into the U.S.

In 2021, supplies from abroad of cow peas (dry) decreased by -6.6% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a slight reduction. The most prominent rate of growth was recorded in 2019 with an increase of 131%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, cow peas imports rose markedly to $X in 2021. Overall, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 139% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Peru (X tons) constituted the largest cow peas supplier to the United States, with a 59% share of total imports. Moreover, cow peas imports from Peru exceeded the figures recorded by the second-largest supplier, Madagascar (X tons), threefold. The third position in this ranking was taken by Belize (X tons), with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru totaled -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Madagascar (+50.1% per year) and Belize (+3.9% per year).

In value terms, Peru ($X) constituted the largest supplier of cow peas to the United States, comprising 63% of total imports. The second position in the ranking was taken by Madagascar ($X), with a 22% share of total imports. It was followed by Argentina, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Peru totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Madagascar (+62.9% per year) and Argentina (+171.9% per year).

Import Prices by Country

In 2021, the average cow peas import price amounted to $X per ton, jumping by 17% against the previous year. Over the period under review, the import price saw a strong expansion. The pace of growth appeared the most rapid in 2014 an increase of 146% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were Peru ($X per ton) and China ($X per ton), while the price for Belize ($X per ton) and Venezuela ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+80.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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