Southern Asia: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Southern Asia

The South Asian taro (cocoyam) market surged to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption recorded a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2023, consumption remained at a lower figure.

Taro (Cocoyam) Production in Southern Asia

In value terms, taro (cocoyam) production reduced markedly to $X in 2023 estimated in export price. In general, production showed a abrupt slump. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, (cocoyam) production growth remained at a somewhat lower figure.

Bhutan (X tons) constituted the country with the largest volume of taro (cocoyam) production, accounting for X% of total volume. It was followed by Bangladesh (X tons), with a X% share of total production.

From 2012 to 2023, the average annual rate of growth in terms of volume in Bhutan amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (X% per year) and Sri Lanka (X% per year).

The average taro (cocoyam) yield stood at X tons per ha in 2023, standing approx. at the previous year's figure. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 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 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.

In 2023, the harvested area of taro in Southern Asia contracted slightly to X ha, waning by X% on the previous year. The total harvested area indicated a notable expansion from 2012 to 2023: its figure 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) harvested area decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2023, the growth of the taro (cocoyam) harvested area failed to regain momentum.

Taro (Cocoyam) Exports

Exports in Southern Asia

Taro (cocoyam) exports was estimated at X tons in 2023, growing by X% compared with 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, taro (cocoyam) exports expanded markedly to $X in 2023. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the (cocoyam) exports reached the peak figure at $X in 2021; afterwards, it flattened through to 2023.

Exports by Country

Bangladesh was the key exporter of taro in Southern Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by India (X tons), constituting a X% share of total exports. The following exporters - Sri Lanka (X tons) and Afghanistan (X tons) - each resulted at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to taro (cocoyam) exports from Bangladesh stood at X%. At the same time, India (X%), Afghanistan (X%) and Sri Lanka (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of India and Bangladesh increased by X and X percentage points, respectively.

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 a X% share of total exports. It was followed by Sri Lanka, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Bangladesh stood at X%. In the other countries, the average annual rates were as follows: India (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, picking up by X% against the previous year. In general, the export price recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

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

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

Taro (Cocoyam) Imports

Imports in Southern Asia

In 2023, supplies from abroad of taro decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of import peaked at X tons in 2022, and then dropped rapidly in the following year.

In value terms, taro (cocoyam) imports contracted notably to $X in 2023. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2022, and then contracted remarkably in the following year.

Imports by Country

Bangladesh dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Maldives (X tons), committing a X% share of total imports.

Bangladesh was also the fastest-growing in terms of the taro imports, with a CAGR of X% from 2012 to 2023. At the same time, Maldives (X%) displayed positive paces of growth. From 2012 to 2023, the share of Bangladesh increased by X percentage points.

In value terms, Bangladesh ($X) constitutes the largest market for imported taro in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Maldives ($X), with a X% share of total imports.

In Bangladesh, taro (cocoyam) imports expanded at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

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 Maldives ($X per ton), while Bangladesh stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Maldives (X%).

Source: IndexBox Platform