Northern America: Cow Peas Market 2023

Cow Peas Market Size in Northern America

The North American cow peas market rose markedly to $X in 2022, surging by 12% against the previous year. Over the period under review, consumption posted a resilient increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Cow Peas Production in Northern America

In value terms, cow peas production reached $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 43%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

The country with the largest volume of cow peas production was the United States (X tons), accounting for 99.9% of total volume.

In the United States, cow peas production contracted by an average annual rate of -6.0% over the period from 2012-2022.

The average cow peas yield expanded modestly to X tons per ha in 2022, with an increase of 3.2% compared with 2021. The yield figure increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the yield increased by 16%. Over the period under review, the cow peas yield attained the maximum level at X tons per ha in 2019; however, from 2020 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.

In 2022, the cow peas harvested area in Northern America soared to X ha, increasing by 23% on the year before. Over the period under review, the harvested area, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 41%. Over the period under review, the harvested area dedicated to cow peas production reached the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports in Northern America

In 2022, cow peas exports in Northern America dropped remarkably to X tons, shrinking by -25.6% compared with 2021 figures. Over the period under review, exports showed a sharp shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 52% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cow peas exports fell sharply to $X in 2022. In general, exports faced a precipitous shrinkage. The growth pace was the most rapid in 2016 when exports increased by 51%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States represented the main exporting country with an export of about X tons, which amounted to 80% of total exports. It was distantly followed by Canada (X tons), committing a 20% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cow peas exports from the United States stood at -30.4%. At the same time, Canada (+17.6%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +17.6% from 2012-2022. While the share of Canada (+20 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-19.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest cow peas supplier in Northern America, comprising 84% of total exports. The second position in the ranking was held by Canada ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to -23.4%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, growing by 3.5% against the previous year. Over the period under review, the export price enjoyed a resilient increase. The growth pace was the most rapid in 2019 when the export price increased by 68%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.2%).

Cow Peas Imports

Imports in Northern America

In 2022, overseas purchases of cow peas (dry) increased by 9.7% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 121%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cow peas imports rose sharply to $X in 2022. In general, imports posted buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by 112% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) represented the largest importer of cow peas (dry), making up 83% of total imports. It was distantly followed by Canada (X tons), committing a 17% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of cow peas (dry). At the same time, Canada (+15.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +15.2% from 2012-2022. While the share of Canada (+13 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-12.5 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported cow peas (dry) in Northern America, comprising 83% of total imports. The second position in the ranking was held by Canada ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +10.7%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when the import price increased by 135%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.6%).

Source: IndexBox Platform

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