EU: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in the EU

The EU taro (cocoyam) market was finally on the rise to reach $X in 2023, after eight years of decline. Overall, consumption continues to indicate a deep reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Taro (Cocoyam) Production in the EU

In value terms, taro (cocoyam) production soared to $X in 2023 estimated in export price. Overall, production saw a abrupt decline. Over the period under review, (cocoyam) production reached the maximum level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

The country with the largest volume of taro (cocoyam) production was Cyprus (X tons), accounting for X% of total volume.

In Cyprus, taro (cocoyam) production plunged by an average annual rate of X% over the period from 2012-2023.

In 2023, the average taro (cocoyam) yield in the European Union shrank slightly to X tons per ha, approximately equating 2022 figures. Overall, the yield showed a pronounced descent. The pace of growth was the most pronounced in 2016 when the yield increased by X%. The level of yield peaked at X tons per ha in 2012; however, from 2013 to 2023, 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 2023, the taro (cocoyam) harvested area in the European Union fell modestly to X ha, with a decrease of X% compared with the previous year. Over the period under review, the harvested area showed a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to taro (cocoyam) production reached the peak figure at X ha in 2012; however, from 2013 to 2023, the harvested area stood at a somewhat lower figure.

Taro (Cocoyam) Exports

Exports in the EU

In 2023, overseas shipments of taro decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, taro (cocoyam) exports expanded markedly to $X in 2023. Over the period under review, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

The Netherlands prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. Bulgaria (X tons), Spain (X tons), Italy (X tons), France (X tons) and Belgium (X tons) followed a long way behind the leaders.

Exports from the Netherlands increased at an average annual rate of X% from 2012 to 2023. At the same time, Italy (X%), Spain (X%), Bulgaria (X%) and France (X%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. By contrast, Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands, Bulgaria, Spain and Italy increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest taro (cocoyam) supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by France, with a X% share.

In the Netherlands, taro (cocoyam) exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Spain (X% per year) and France (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, jumping by X% against the previous year. Export price indicated a resilient expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, taro (cocoyam) export price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports in the EU

In 2023, taro (cocoyam) imports in the European Union rose sharply to X tons, with an increase of X% on 2022 figures. Overall, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, (cocoyam) imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, taro (cocoyam) imports skyrocketed to $X in 2023. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

Imports by Country

In 2023, the Netherlands (X tons) and France (X tons) represented the main importers of taro in the European Union, together mixing up X% of total imports. Spain (X tons) took the next position in the ranking, followed by Italy (X tons). All these countries together held approx. X% share of total imports. Germany (X tons) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constitutes the largest market for imported taro in the European Union, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the Netherlands stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: France (X% per year) and Spain (X% per year).

Import Prices by Country

In 2023, the import price in the European Union amounted to $X per ton, rising by X% against the previous year. Import price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, taro (cocoyam) import price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform