Latin America and the Caribbean: Cow Peas Market 2024

Cow Peas Market Size in Latin America and the Caribbean

The Latin American cow peas market soared to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption, however, showed a noticeable slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cow Peas Production in Latin America and the Caribbean

In value terms, cow peas production amounted 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 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The country with the largest volume of cow peas production was Brazil (X tons), accounting for X% of total volume. Moreover, cow peas production in Brazil exceeded the figures recorded by the second-largest producer, Haiti (X tons), twofold.

In Brazil, cow peas production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Haiti (X% per year) and Peru (X% per year).

The average cow peas yield reached X tons per ha in 2022, leveling off at 2021 figures. Overall, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the yield increased by X%. Over the period under review, the cow peas yield reached the peak level at X tons 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 cow peas harvested area dropped slightly to X ha in 2022, shrinking by X% against the previous year's figure. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the harvested area increased by X% against the previous year. The level of harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area failed to regain momentum.

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Cow Peas Exports

Exports in Latin America and the Caribbean

Cow peas exports fell dramatically to X tons in 2022, reducing by X% on the year before. Over the period under review, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, cow peas exports contracted sharply to $X in 2022. In general, exports, however, showed a noticeable increase. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Brazil represented the main exporter of cow peas (dry) in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Peru (X tons), constituting an X% share of total exports.

Brazil was also the fastest-growing in terms of the cow peas (dry) exports, with a CAGR of X% from 2012 to 2022. Peru (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by X percentage points.

In value terms, Brazil ($X) remains the largest cow peas supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Peru ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled X%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price showed a pronounced decrease. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%).

Cow Peas Imports

Imports in Latin America and the Caribbean

After two years of decline, supplies from abroad of cow peas (dry) increased by X% to X tons in 2022. Overall, imports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cow peas imports expanded markedly to $X in 2022. In general, imports, however, showed a perceptible curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Colombia was the major importing country with an import of around X tons, which recorded X% of total imports. Panama (X tons) took the second position in the ranking, distantly followed by the Dominican Republic (X tons) and Curacao (X tons). All these countries together held near X% share of total imports. Cuba (X tons), Jamaica (X tons) and Saint Lucia (X tons) took a relatively small share of total imports.

Imports into Colombia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Jamaica (X%), Cuba (X%), Saint Lucia (X%), the Dominican Republic (X%) and Panama (X%) displayed positive paces of growth. Moreover, Jamaica emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Curacao experienced a relatively flat trend pattern. While the share of Panama (X p.p.), the Dominican Republic (X p.p.), Jamaica (X p.p.), Cuba (X p.p.), Curacao (X p.p.) and Saint Lucia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Colombia (X p.p.) displayed negative dynamics.

In value terms, Colombia ($X) constitutes the largest market for imported cow peas (dry) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Panama ($X), with a X% share of total imports. It was followed by the Dominican Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Colombia amounted to X%. In the other countries, the average annual rates were as follows: Panama (X% per year) and the Dominican Republic (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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