Sri Lanka: Cow Peas Market 2024

Cow Peas Market Size in Sri Lanka

The Sri Lankan cow peas market expanded markedly to $X in 2022, growing by X% against the previous year. Overall, consumption, however, saw a deep downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Cow Peas Production in Sri Lanka

In value terms, cow peas production stood at $X in 2022 estimated in export price. In general, production, however, showed a deep contraction. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Cow peas production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The average yield of cow peas (dry) in Sri Lanka reached X tons per ha in 2022, remaining stable against 2021. Overall, the yield, however, recorded a mild reduction. The pace of growth appeared the most rapid in 2016 when the yield increased by X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2017 to 2022, the growth of the average cow peas yield remained 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 total area harvested in terms of cow peas (dry) production in Sri Lanka rose notably to X ha, growing by X% against the previous year. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The cow peas harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Cow Peas Exports

Exports from Sri Lanka

In 2022, overseas shipments of cow peas (dry) decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, cow peas exports fell dramatically to $X in 2022. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Maldives (X kg) and Italy (X kg) were the main destinations of cow peas exports from Sri Lanka, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Maldives ($X) emerged as the key foreign market for cow peas (dry) exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Italy (X% per year).

Export Prices by Country

The average cow peas export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price saw pronounced growth. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (X%), while the prices for the other major destinations experienced a decline.

Cow Peas Imports

Imports into Sri Lanka

In 2022, supplies from abroad of cow peas (dry) decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a dramatic downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, cow peas imports dropped to $X in 2022. Overall, imports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of cow peas to Sri Lanka, accounting for a X% share of total imports. Moreover, cow peas imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X kg), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam amounted to X%.

In value terms, Vietnam ($X) constituted the largest supplier of cow peas (dry) to Sri Lanka, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Vietnam totaled X%.

Import Prices by Country

The average cow peas import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price enjoyed a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Vietnam totaled $X per ton.

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

Source: IndexBox Platform

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