Asia: Cow Peas Market 2023

Cow Peas Market Size in Asia

The Asian cow peas market skyrocketed to $X in 2022, with an increase of 25% against the previous year. Overall, consumption, however, saw a perceptible slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Cow Peas Production in Asia

In value terms, cow peas production totaled $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Myanmar (X tons), Uzbekistan (X tons) and Yemen (X tons), with a combined 83% share of total production.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +12.9%), while production for the other leaders experienced more modest paces of growth.

The average cow peas yield was estimated at X tons per ha in 2022, growing by 1.8% compared with 2021 figures. The yield figure increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, the cow peas yield reached the peak level in 2022 and is expected to retain growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cow peas harvested area reached X ha in 2022, flattening at 2021. Overall, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 1%. 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 Asia

In 2022, exports of cow peas (dry) in Asia declined to X tons, reducing by -11.1% compared with the year before. Over the period under review, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 223% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, cow peas exports soared to $X in 2022. Overall, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 150%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Uzbekistan was the major exporting country with an export of about X tons, which amounted to 65% of total exports. It was distantly followed by Myanmar (X tons), achieving a 19% share of total exports. The following exporters - Thailand (X tons), Afghanistan (X tons), India (X tons) and the United Arab Emirates (X tons) - together made up 11% of total exports.

From 2012 to 2022, average annual rates of growth with regard to cow peas exports from Uzbekistan stood at +14.3%. At the same time, Myanmar (+113.5%), India (+17.6%) and the United Arab Emirates (+3.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia, with a CAGR of +113.5% from 2012-2022. By contrast, Thailand (-6.9%) and Afghanistan (-11.8%) illustrated a downward trend over the same period. While the share of Uzbekistan (+65 p.p.) and Myanmar (+19 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-2.6 p.p.), Thailand (-22.5 p.p.) and Afghanistan (-26.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) remains the largest cow peas supplier in Asia, comprising 76% of total exports. The second position in the ranking was held by Myanmar ($X), with a 10% share of total exports. It was followed by Thailand, with a 3% share.

From 2012 to 2022, the average annual growth rate of value in Uzbekistan totaled +30.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Myanmar (+102.4% per year) and Thailand (-7.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, with an increase of 35% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the export price increased by 41%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+14.0%), while the other leaders experienced more modest paces of growth.

Cow Peas Imports

Imports in Asia

Cow peas imports soared to X tons in 2022, growing by 30% on 2021. Over the period under review, imports, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cow peas imports surged to $X in 2022. In general, imports, however, showed a noticeable slump. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), Pakistan (X tons), Afghanistan (X tons), China (X tons), India (X tons) and Vietnam (X tons) represented roughly 78% of total imports in 2022. The United Arab Emirates (X tons), Georgia (X tons), Taiwan (Chinese) (X tons), Iran (X tons) and Nepal (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +155.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Afghanistan ($X), Japan ($X) and India ($X) were the countries with the highest levels of imports in 2022, together comprising 47% of total imports. China, Pakistan, Vietnam, the United Arab Emirates, Iran, Nepal, Georgia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 38%.

Among the main importing countries, China, with a CAGR of +139.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with a decrease of -10.6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 20% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Afghanistan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :