Global Cow Peas Market 2023

Cow Peas Market Size

After two years of growth, the global cow peas market decreased by -0.5% to $X in 2021. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.3% against 2018 indices. Over the period under review, the global market reached the peak level at $X in 2020, and then shrank slightly in the following year.

Cow Peas Production

In value terms, cow peas production reached $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.1% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 60% against the previous year. Global production peaked at $X in 2019; afterwards, it flattened through to 2021.

The countries with the highest volumes of production in 2021 were Nigeria (X tons), Niger (X tons) and Burkina Faso (X tons), with a combined 72% share of global production. These countries were followed by Kenya, Canada, the United States, Mali, Ghana, Senegal, Cameroon and Sudan, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were in Sudan (with a CAGR of +19.1%), while production for the other global leaders experienced more modest paces of growth.

The global average cow peas yield fell modestly to X kg per ha in 2021, flattening at the previous year's figure. Over the period under review, the yield continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2016 with an increase of 13%. Over the period under review, the average cow peas yield attained the peak level at X kg per ha in 2012; however, from 2013 to 2021, 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.

The global cow peas harvested area fell modestly to X ha in 2021, remaining relatively unchanged against 2020. The harvested area increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 13%. Over the period under review, the harvested area dedicated to cow peas production reached the peak figure at X ha in 2020, and then dropped slightly in the following year.

Cow Peas Exports

Exports

In 2021, overseas shipments of cow peas (dry) increased by 1.8% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 8.4%. The global exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, cow peas exports shrank to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 15% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

In 2021, Canada (X tons) and the United States (X tons) represented the largest exporters of cow peas (dry)across the globe, together constituting 58% of total exports. Uzbekistan (X tons) held the next position in the ranking, distantly followed by Madagascar (X tons). All these countries together held near 19% share of total exports. Tanzania (X tons), Myanmar (X tons) and Latvia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Latvia (with a CAGR of +69.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Canada ($X), the United States ($X) and Uzbekistan ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 75% share of global exports. Madagascar, Myanmar, Tanzania and Latvia lagged somewhat behind, together accounting for a further 7.9%.

Latvia, with a CAGR of +43.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average cow peas export price amounted to $X per ton, reducing by -4.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Uzbekistan ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+4.9%), while the other global leaders experienced more modest paces of growth.

Cow Peas Imports

Imports

In 2021, approx. X tons of cow peas (dry) were imported worldwide; dropping by -9.7% compared with 2020. Overall, imports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2017 with an increase of 32%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of global imports failed to regain momentum.

In value terms, cow peas imports contracted to $X in 2021. In general, imports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 33% against the previous year. Over the period under review, global imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons) and Mexico (X tons) represented roughly 41% of total imports in 2021. Pakistan (X tons) took a 5.3% share (based on physical terms) of total imports, which put it in second place, followed by the Dominican Republic (5%). Afghanistan (X tons), Vietnam (X tons), China (X tons), Canada (X tons), Japan (X tons), Angola (X tons) and Haiti (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +173.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest cow peas importing markets worldwide were the United States ($X), Mexico ($X) and the Dominican Republic ($X), together comprising 48% of global imports. These countries were followed by Afghanistan, Pakistan, Canada, China, Japan, Vietnam, Angola and Haiti, which together accounted for a further 25%.

China, with a CAGR of +160.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average cow peas import price stood at $X per ton in 2021, surging by 5.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 an increase of 26% against the previous year. Global import price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Angola ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+6.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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