Southern Asia: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Southern Asia

The South Asian taro (cocoyam) market surged to $X in 2022, growing by X% against the previous year. In general, consumption, however, showed a mild reduction. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Taro (Cocoyam) Production in Southern Asia

In value terms, taro (cocoyam) production expanded to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value 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, (cocoyam) production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, (cocoyam) production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Bangladesh (X tons), Sri Lanka (X tons) and India (X tons), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by India (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average taro (cocoyam) yield rose modestly to X tons per ha in 2022, increasing by X% against the year before. Over the period under review, the yield showed resilient growth. The pace of growth appeared the most rapid in 2017 when the yield increased by X% against the previous year. Over the period under review, the taro (cocoyam) yield attained the peak level at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The taro (cocoyam) harvested area amounted to X ha in 2022, remaining relatively unchanged against the year before. In general, the harvested area faced a abrupt decline. The most prominent rate of growth was recorded in 2013 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to taro (cocoyam) production attained the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area stood at a somewhat lower figure.

Taro (Cocoyam) Exports

Exports in Southern Asia

In 2022, taro (cocoyam) exports in Southern Asia reduced rapidly to X tons, dropping by X% on the year before. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, taro (cocoyam) exports dropped remarkably to $X in 2022. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the (cocoyam) exports reached the maximum at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

Bangladesh was the major exporter of taro in Southern Asia, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by India (X tons), mixing up an X% share of total exports. Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to taro (cocoyam) exports from Bangladesh stood at X%. At the same time, India (X%) and Afghanistan (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of Bangladesh (X p.p.) and India (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Afghanistan (X p.p.) displayed negative dynamics.

In value terms, Bangladesh ($X) remains the largest taro (cocoyam) supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by India ($X), with an X% share of total exports.

In Bangladesh, taro (cocoyam) exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and Afghanistan (X% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, approximately equating the previous year. Over the period under review, the export price saw a noticeable expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while India ($X per ton) was amongst the lowest.

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

Taro (Cocoyam) Imports

Imports in Southern Asia

In 2022, purchases abroad of taro increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw significant growth. The pace of growth was the most pronounced in 2018 when imports increased by X,300%. Over the period under review, (cocoyam) imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, taro (cocoyam) imports soared to $X in 2022. In general, imports posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

The purchases of the one major importers of taro, namely Maldives, represented more than two-thirds of total import.

Maldives was also the fastest-growing in terms of the taro imports, with a CAGR of X% from 2013 to 2022. Maldives (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Maldives ($X) constitutes the largest market for imported taro in Southern Asia.

In Maldives, taro (cocoyam) imports increased at an average annual rate of X% over the period from 2013-2022.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price posted strong growth. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2013 to 2022, the rate of growth in terms of prices for Maldives amounted to X% per year.

Source: IndexBox Platform

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