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United Kingdom - Taro - Market Analysis, Forecast, Size, Trends and Insights

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United Kingdom: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in the UK

For the fourth year in a row, the UK taro (cocoyam) market recorded growth in sales value, which increased by 17% to $X in 2022. Over the period under review, consumption, however, recorded a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Taro (Cocoyam) Exports

Exports from the UK

Taro (cocoyam) exports from the UK shrank rapidly to X tons in 2022, falling by -24.7% compared with 2021 figures. Overall, exports continue to indicate a sharp curtailment. The smallest decline of -10.3% was in 2018. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, taro (cocoyam) exports expanded slightly to $X in 2022. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 16%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Ireland (X tons) and France (X tons) were the main destinations of taro (cocoyam) exports from the UK.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +94.8%).

In value terms, Ireland ($X) emerged as the key foreign market for taro exports from the UK, comprising 79% of total exports. The second position in the ranking was taken by France ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ireland stood at +95.8%.

Export Prices by Country

The average taro (cocoyam) export price stood at $X per ton in 2022, jumping by 38% against the previous year. Overall, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2015 when the average export price increased by 64%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to France totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+0.8%).

Taro (Cocoyam) Imports

Imports into the UK

In 2022, supplies from abroad of taro decreased by -1.7% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 37%. Over the period under review, (cocoyam) imports hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, taro (cocoyam) imports soared to $X in 2022. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 60%. Over the period under review, (cocoyam) imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of taro (cocoyam) to the UK, accounting for a 50% share of total imports. Moreover, taro (cocoyam) imports from Costa Rica exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Bangladesh (X tons), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.3% per year) and Bangladesh (+90.7% per year).

In value terms, Costa Rica ($X) constituted the largest supplier of taro to the UK, comprising 47% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 12% share of total imports. It was followed by Vietnam, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from Costa Rica stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+88.7% per year) and Vietnam (+23.9% per year).

Import Prices by Country

The average taro (cocoyam) import price stood at $X per ton in 2022, surging by 24% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, taro (cocoyam) import price increased by +77.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of 40% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 Bangladesh ($X per ton), while the price for Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for taro in the world?

The countries with the highest volumes of taro cocoyam) consumption in 2020 were Nigeria, Cameroon and China, together comprising 56% of global consumption. Ethiopia, Ghana, Papua New Guinea, Burundi, Madagascar and Rwanda lagged somewhat behind, together accounting for a further 31%.

What are the largest producers of taro in the world?

The countries with the highest volumes of taro cocoyam) production in 2020 were Nigeria, China and Cameroon, with a combined 57% share of global production. These countries were followed by Ethiopia, Ghana, Papua New Guinea and Burundi, which together accounted for a further 27%.

What are the leading suppliers of taro to the UK?

In value terms, Costa Rica constituted the largest supplier of taro cocoyam) to the UK, comprising 66% of total imports. The second position in the ranking was occupied by Vietnam, with a 22% share of total imports. It was followed by Saint Vincent and the Grenadines, with a 16% share.

What are the leading importers of taro from the UK?

In value terms, France remains the key foreign market for taro cocoyam) exports from the UK, comprising 89% of total exports. The second position in the ranking was occupied by Italy, with a 5.8% share of total exports. It was followed by Spain, with a 3.5% share.

What is the average export price for taro in the UK?

In 2020, the average taro cocoyam) export price amounted to $4,810 per ton, jumping by 17% against the previous year.

What is the average import price for taro in the UK?

The average taro cocoyam) import price stood at $1,517 per ton in 2020, falling by -10.5% against the previous year.

This report provides an in-depth analysis of the taro (cocoyam) market in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 136 - Taro (Cocoyam)

Country coverage:

United Kingdom

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the UK
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
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How to outsource production to other countries
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023