MERCOSUR: Cow Peas Market 2024

Cow Peas Market Size in MERCOSUR

The MERCOSUR cow peas market rose notably to $X in 2022, increasing by X% against the previous year. In general, consumption, however, recorded a pronounced 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 MERCOSUR

In value terms, cow peas production rose to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible curtailment. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Brazil (X tons) constituted the country with the largest volume of cow peas production, accounting for X% of total volume. Moreover, cow peas production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), threefold. Argentina (X tons) ranked third in terms of total production with a X% share.

In Brazil, cow peas production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Peru (X% per year) and Argentina (X% per year).

In 2022, the average cow peas yield in MERCOSUR expanded markedly to X tons per ha, surging by X% compared with 2021. The yield indicated temperate growth from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cow peas yield decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the cow peas yield attained the maximum level at X tons per ha in 2020; however, from 2021 to 2022, 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 fell sharply to X ha in 2022, waning by X% on the year before. Over the period under review, the harvested area continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. 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 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports in MERCOSUR

In 2022, overseas shipments of cow peas (dry) decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, exports showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, cow peas exports shrank remarkably to $X in 2022. In general, exports showed a perceptible downturn. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru dominates exports structure, resulting at X tons, which was near X% of total exports in 2022. Brazil (X tons) took the second position in the ranking, followed by Argentina (X tons). All these countries together took near X% share of total exports. Colombia (X tons) and Venezuela (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cow peas exports from Peru stood at X%. At the same time, Venezuela (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Venezuela emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2022. By contrast, Argentina (X%) and Brazil (X%) illustrated a downward trend over the same period. Peru (X p.p.), Colombia (X p.p.) and Venezuela (X p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Brazil saw its share reduced by X% and X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Peru amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (X% per year) and Brazil (X% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cow peas export price increased by X% against 2018 indices. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in years to come.

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 Colombia ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the export price figures.

Cow Peas Imports

Imports in MERCOSUR

In 2022, the amount of cow peas (dry) imported in MERCOSUR shrank rapidly to X tons, which is down by X% against the year before. Overall, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, cow peas imports shrank markedly to $X in 2022. Over the period under review, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Venezuela was the major importing country with an import of around X tons, which accounted for X% of total imports. Guyana (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Peru (X%), Chile (X%) and Colombia (X%). Argentina (X tons) and Brazil (X tons) took a little share of total imports.

Venezuela experienced a relatively flat trend pattern with regard to volume of imports of cow peas (dry). At the same time, Guyana (X%), Brazil (X%), Peru (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2022. By contrast, Chile (X%) and Colombia (X%) illustrated a downward trend over the same period. Guyana (X p.p.), Venezuela (X p.p.), Peru (X p.p.), Brazil (X p.p.) and Argentina (X p.p.) significantly strengthened its position in terms of the total imports, while Chile and Colombia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Venezuela ($X), Guyana ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, Guyana, with a CAGR of X%, 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 2022, the import price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, recorded a noticeable decrease. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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