Global Cow Peas Market 2024

Cow Peas Market Size

The global cow peas market amounted to $X in 2022, growing by 1.9% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the global market remained at a lower figure.

Cow Peas Production

In value terms, cow peas production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 35% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, global production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Nigeria (X tons), Niger (X tons) and Burkina Faso (X tons), together accounting for 77% of global production. Mali, Kenya, Senegal, Ghana, Cameroon, Sudan and Tanzania lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Sudan (with a CAGR of +17.2%), while production for the other global leaders experienced more modest paces of growth.

The global average cow peas yield amounted to X kg per ha in 2022, approximately mirroring the previous year's figure. Overall, the yield, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2016 when the yield increased by 15%. Over the period under review, the average cow peas yield hit record highs at X kg 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.

The global cow peas harvested area dropped slightly to X ha in 2022, approximately mirroring the year before. The harvested area increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 13%. The global harvested area peaked at X ha in 2021, and then fell slightly in the following year.

Cow Peas Exports

Exports

In 2022, the amount of cow peas (dry) exported worldwide declined to X tons, waning by -7.6% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 72% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, cow peas exports dropped significantly to $X in 2022. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2021 when exports increased by 101% against the previous year. As a result, the exports attained the peak of $X, and then reduced sharply in the following year.

Exports by Country

In 2022, Brazil (X tons), distantly followed by Myanmar (X tons), Madagascar (X tons), India (X tons) and Peru (X tons) were the key exporters of cow peas (dry), together committing 82% of total exports. Turkey (X tons) and Kenya (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Myanmar (with a CAGR of +130.3%), while the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Madagascar ($X) and Myanmar ($X) were the countries with the highest levels of exports in 2022, with a combined 60% share of global exports.

In terms of the main exporting countries, Myanmar, with a CAGR of +137.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cow peas export price amounted to $X per ton, reducing by -14.6% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16%. As a result, the export price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+6.5%), while the other global leaders experienced more modest paces of growth.

Cow Peas Imports

Imports

Global cow peas imports shrank markedly to X tons in 2022, which is down by -19.9% compared with the previous year's figure. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 88% against the previous year. Over the period under review, global imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cow peas imports declined remarkably to $X in 2022. In general, imports, however, posted a strong increase. The growth pace was the most rapid in 2014 with an increase of 88% against the previous year. Global imports peaked at $X in 2021, and then dropped sharply in the following year.

Imports by Country

India represented the main importing country with an import of around X tons, which amounted to 32% of total imports. Egypt (X tons) ranks second in terms of the total imports with an 8.6% share, followed by Turkey (5.7%), the United States (5.6%), Pakistan (5.1%), Portugal (5%) and Zimbabwe (4.8%). The following importers - Iraq (X tons), the United Arab Emirates (X tons), South Korea (X tons), Italy (X tons), South Sudan (X tons) and the UK (X tons) - together made up 16% of total imports.

Imports into India increased at an average annual rate of +18.2% from 2012 to 2022. At the same time, Portugal (+61.5%), South Sudan (+34.4%), Zimbabwe (+22.1%), Egypt (+21.7%), the United Arab Emirates (+18.7%), Turkey (+17.0%), Pakistan (+16.3%), Italy (+12.2%) and the UK (+10.5%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the world, with a CAGR of +61.5% from 2012-2022. South Korea, Iraq and the United States experienced a relatively flat trend pattern. From 2012 to 2022, the share of India, Egypt, Portugal, Zimbabwe, Turkey, Pakistan and the United Arab Emirates increased by +32, +5.4, +4.9, +3.1, +2.6, +2.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported cow peas (dry) worldwide, comprising 27% of global imports. The second position in the ranking was held by the United States ($X), with an 8.2% share of global imports. It was followed by Egypt, with a 7.3% share.

In India, cow peas imports expanded at an average annual rate of +19.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+10.7% per year) and Egypt (+23.9% per year).

Import Prices by Country

The average cow peas import price stood at $X per ton in 2022, reducing by -4.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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 the United States ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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