Strong demand for livestock feed propels the Chinese dry peas market

Published 2021년 7월 4일

Tridge summary

The report by IndexBox provides an in-depth analysis of the dynamic market for dry peas in China, revealing significant growth in 2020 due to increased imports and domestic consumption. With a global market share of 35.9%, China is the largest consumer of dry peas, primarily using it for animal feed due to its affordability amidst rising grain prices. Despite being the second-largest producer, China remains the world's leading importer, with Canada and the U.S. being its main suppliers. The market is expected to see steady growth, reaching 7.7M tonnes by 2030, propelled by the expanding population and demand for food and feed. Notably, Ukraine and Russia are emerging as competitive suppliers, and the average import price for dry peas in 2020 saw a decrease of -2.9% from the previous year. This growth in the dry peas market underscores the important role of grain-based feed in supporting China's livestock industry and food production, highlighting a robust demand that is driving changes in the global agricultural trade landscape.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

IndexBox has just published a new report: ‘China – Peas (Dry) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings. The Chinese dry peas market is becoming an attractive export destination for overseas suppliers. In 2020, China increased the volume of imports of dry peas by 45%, as the country is actively recovering its livestock reserves after an outbreak of swine fever and is in dire need of crops for animal feed. Against the background of rising grain prices, peas are becoming a more affordable alternative component in animal feed. China remains the largest consumer of dry peas in the world with a 35.9% (IndexBox estimates) share of the global market. In 2020, the country’s consumption of dry peas jumped up by 20% due to increased use in animal feed. China continues to actively restore its livestock population after the swine fever epidemic, with the need for feed increasing significantly. Dry peas have become an excellent ...

Source: Globaltrademag