South Africa's Cow Peas Export Price Declines by 20% to $1,007 per Ton in July 2023

South Africa

South Africa Cow Peas Export Price in July 2023

The price of cow peas in South Africa dropped to $1,007 per ton in July 2023, marking a 20% decrease compared to the previous month. This reduction resulted in a noticeable decline in export prices. The most significant growth rate in export price occurred in December 2022, with a 65% month-to-month increase, reaching a peak level of $1,630 per ton. However, from January to July 2023, the average export prices remained relatively lower.

The average prices for cow peas varied among different overseas markets. Lesotho had the highest price in July 2023, at $1,203 per ton, while exports to Swaziland had an average price of $970 per ton.

Between July 2022 and July 2023, the price for cow peas supplies to Lesotho experienced a notable growth rate of 5.1%, while prices for other major destinations showed mixed trend patterns.

South Africa Cow Peas Export Prices By Country (USD Per Ton)

South Africa Cow Peas Exports

In July 2023, the volume of cow peas (dry) shipped abroad from South Africa decreased by 28.3% to 377 tons, marking the second consecutive monthly decline after three months of growth. Overall, exports experienced a noticeable reduction. The highest growth rate occurred in September 2022, with a 243% increase compared to the previous month.

In terms of value, cow peas exports plummeted to $379K in July 2023, according to IndexBox estimates. Export values recorded a significant decline, with the most rapid growth rate observed in September 2022 at 254% compared to the previous month.

South Africa Cow Peas Exports by Country

Swaziland was the primary destination for cow peas exports from South Africa, accounting for 88% of total exports, with a volume of 331 tons. In comparison, Lesotho received 40 tons, making it the second major destination, eight times less than Swaziland.

Regarding value, Swaziland remained the main foreign market for South Africa's cow peas exports, representing 85% of total exports, with a value of $322K. Lesotho held the second position with a 13% share, equivalent to $48K.

Between July 2022 and July 2023, the average monthly growth rate of volume and value to Swaziland stood at -4.2% and -6.5%, respectively.



Source: IndexBox Market Intelligence Platform

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