Significant Changes in Qatar’s Cow Peas Imports for 2024

Qatar’s cow peas imports increased to 468 tons in 2024, a 34% rise from the previous year; however, the trend indicates a long-term decline since 2015. The value of imports also surged to $569K, with Argentina becoming a key supplier. Despite increased import volumes, average prices showed a slight overall decline in recent years, highlighting market fluctuations.

In 2024, Qatar’s imports of dry shelled beans, commonly known as cow peas, showed a notable increase, rising to 468 tons, a 34% growth compared to the previous year. Despite this rise in volume, the overall trend reveals a significant decline since 2015. Peak imports were recorded in 2014 at 1.1K tons, marking a sharp drop in subsequent years which continues to impact import figures.

Regarding monetary value, cow peas imports surged to $569K in 2024 but still reflect an overall decline since 2015. The highest growth period occurred in 2017, with imports soaring by 1,113%. Previously, imports had reached a record high of $1.3M in 2014, illustrating a long-term reduction since then.

The primary suppliers of shelled beans to Qatar in 2024 included Myanmar, Argentina, and Kenya, collectively representing 62% of total imports. Argentina demonstrated the most significant growth rate among suppliers, achieving a compounded annual growth rate (CAGR) of +32.7% from 2014 to 2023. In the same value context, Argentina, Myanmar, and the United Arab Emirates represented 63% of the monetary value of imports.

In terms of pricing, the average cost per ton of cow peas stood at $1,064 in 2023, reflecting a 3% increase from the previous year. However, the overall import price trend indicates a gradual decline, with notable price increases observed in 2020. The United Arab Emirates had the highest average import price, while Myanmar’s prices were comparatively lower.

The report offers an in-depth analysis of Qatar’s shelled bean market, including current trends, consumption, and pricing data, as well as forecasts through 2030. It targets various stakeholders, including manufacturers and wholesalers, and provides insights for strategic business decisions. Furthermore, it supports data-driven decisions and enhances the understanding of market dynamics for better growth opportunities.

In conclusion, Qatar’s cow peas imports show an increase in volume in 2024, despite a continuing decline in both total import volume and value since 2015. Argentina emerged as a key supplier with significant growth rates, while the average price per ton varied significantly among different suppliers. The report serves as a valuable resource for stakeholders looking to navigate the shifting market landscape effectively and leverage new opportunities for growth.

Original Source: www.indexbox.io