Ghana: Cow Peas Market 2023

Cow Peas Market Size in Ghana

The Ghanian cow peas market reduced to $X in 2021, falling by -11.5% against the previous year. Overall, consumption recorded a noticeable setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Cow Peas Production in Ghana

In value terms, cow peas production contracted sharply to $X in 2021 estimated in export price. Overall, production saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 168%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

The average yield of cow peas (dry) in Ghana shrank modestly to X tons per ha in 2021, approximately reflecting the previous year. In general, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by 13%. As a result, the yield attained the peak level of X tons per ha; afterwards, it flattened through to 2021. 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 Ghana fell modestly to X ha in 2021, stabilizing at the previous year. Over the period under review, the harvested area showed a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 4.9%. Over the period under review, the harvested area dedicated to cow peas production attained the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area stood at a somewhat lower figure.

Cow Peas Exports

Exports from Ghana

In 2021, shipments abroad of cow peas (dry) increased by 268% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 33,857% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, cow peas exports soared to $X in 2021. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 23,680%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for cow peas exports from Ghana, with a 87% share of total exports. Moreover, cow peas exports to the UK exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was held by Belgium (X tons), with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to the UK stood at +75.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+29.4% per year) and Belgium (+48.5% per year).

In value terms, the UK ($X) emerged as the key foreign market for cow peas exports from Ghana, comprising 71% of total exports. The second position in the ranking was taken by the United States ($X), with a 24% share of total exports. It was followed by Belgium, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +82.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+43.0% per year) and Belgium (+60.1% per year).

Export Prices by Country

The average cow peas export price stood at $X per ton in 2021, increasing by 17% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 147%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 the United States (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cow Peas Imports

Imports into Ghana

In 2021, overseas purchases of cow peas (dry) decreased by -53.4% to X tons, falling for the second year in a row after two years of growth. In general, imports continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2019 when imports increased by 132%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cow peas imports reduced sharply to $X in 2021. Over the period under review, imports showed a precipitous setback. The growth pace was the most rapid in 2019 with an increase of 103% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X tons) constituted the largest supplier of cow peas to Ghana, accounting for a 64% share of total imports. Moreover, cow peas imports from Nigeria exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Lebanon (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from Nigeria was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+25.6% per year) and Lebanon (-8.3% per year).

In value terms, Nigeria ($X), India ($X) and Lebanon ($X) were the largest cow peas suppliers to Ghana, together accounting for 89% of total imports.

Among the main suppliers, India, with a CAGR of +21.4%, saw 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

In 2021, the average cow peas import price amounted to $X per ton, dropping by -45.4% against the previous year. In general, the import price showed a pronounced descent. The pace of growth was the most pronounced in 2017 when the average import price increased by 74%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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