MERCOSUR: Cow Peas Market 2024

Cow Peas Market Size in MERCOSUR

The MERCOSUR cow peas market surged to $X in 2022, picking up by X% against the previous year. In general, consumption, however, saw a deep contraction. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Cow Peas Production in MERCOSUR

In value terms, cow peas production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The country with the largest volume of cow peas production was Brazil (X tons), comprising approx. X% of total volume. Moreover, cow peas production in Brazil exceeded the figures recorded by the second-largest producer, Peru (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume in Brazil was relatively modest.

In 2022, the average yield of cow peas (dry) in MERCOSUR expanded markedly to X tons per ha, picking up by X% on the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the cow peas yield attained the peak level at X tons per ha in 2020; however, from 2021 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.

In 2022, the total area harvested in terms of cow peas (dry) production in MERCOSUR contracted to X ha, declining by X% compared with the previous year. Overall, the harvested area saw a noticeable slump. 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 stood at a somewhat lower figure.

Cow Peas Exports

Exports in MERCOSUR

In 2022, cow peas exports in MERCOSUR shrank notably to X tons, dropping by X% compared with 2021. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped significantly in the following year.

In value terms, cow peas exports declined sharply to $X in 2022. Over the period under review, exports, however, enjoyed noticeable growth. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Brazil represented the largest exporter of cow peas (dry) in MERCOSUR, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Peru (X tons), creating 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. While the share of Brazil (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Peru (X p.p.) displayed negative dynamics.

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

In Brazil, cow peas exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price saw a noticeable decrease. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 MERCOSUR

After two years of decline, purchases abroad of cow peas (dry) increased by X% to X tons in 2022. Over the period under review, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cow peas imports totaled $X in 2022. Overall, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the one major importers of cow peas (dry), namely Colombia, represented more than two-thirds of total import.

Colombia was also the fastest-growing in terms of the cow peas (dry) imports, with a CAGR of X% from 2012 to 2022. While the share of Colombia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Colombia ($X) constitutes the largest market for imported cow peas (dry) in MERCOSUR.

From 2012 to 2022, the average annual rate of growth in terms of value in Colombia stood at X%.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to X% per year.

Source: IndexBox Platform

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