China: Cow Peas Market 2023

Cow Peas Market Size in China

The Chinese cow peas market surged to $X in 2021, jumping by 116% against the previous year. Overall, consumption continues to indicate a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cow Peas Production in China

In value terms, cow peas production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2017 with an increase of 73%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

The average yield of cow peas (dry) in China shrank to X tons per ha in 2021, remaining relatively unchanged against 2020 figures. In general, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by 49% against the previous year. The cow peas yield peaked at X tons per ha in 2013; however, from 2014 to 2021, the yield stood at a somewhat lower figure. 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 in China was estimated at X ha in 2021, approximately reflecting the previous year. The harvested area increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the harvested area increased by 12% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2021, the growth of the cow peas harvested area failed to regain momentum.

Cow Peas Exports

Exports from China

In 2021, shipments abroad of cow peas (dry) was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, saw a abrupt setback. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cow peas exports skyrocketed to $X in 2021. In general, exports, however, recorded a abrupt decrease. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Botswana (X tons) was the main destination for cow peas exports from China, with a 50% share of total exports. Moreover, cow peas exports to Botswana exceeded the volume sent to the second major destination, the United States (X tons), twofold. Singapore (X tons) ranked third in terms of total exports with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Botswana totaled -16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+53.8% per year) and Singapore (-8.0% per year).

In value terms, Botswana ($X) remains the key foreign market for cow peas exports from China, comprising 64% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.6% share of total exports. It was followed by Singapore, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to Botswana stood at -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+32.9% per year) and Singapore (-8.9% per year).

Export Prices by Country

The average cow peas export price stood at $X per ton in 2021, rising by 144% against the previous year. In general, the export price enjoyed moderate growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Vietnam ($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 Botswana (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into China

Cow peas imports into China skyrocketed to X tons in 2021, rising by 1,218% compared with the previous year. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 89,428%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, cow peas imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 41,141% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Myanmar (X tons), Vietnam (X tons) and Pakistan (X tons) were the main suppliers of cow peas imports to China, together comprising 74% of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +437.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cow peas suppliers to China were Myanmar ($X), Pakistan ($X) and Vietnam ($X), with a combined 76% share of total imports.

Vietnam, with a CAGR of +357.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cow peas import price stood at $X per ton in 2021, jumping by 26% against the previous year. Overall, the import price, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2016 when the average import price increased by 51%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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