Dry Peas Market Overview in Italy

In 2019, the Italian dry peas market increased by % to $, rising for the third year in a row after two years of decline. Over the period under review, consumption posted a resilient increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % y-o-y. Over the period under review, the market hit record highs in 2019 and is likely to continue growth in years to come.

In value terms, dry peas production surged to $ in 2019 estimated in export prices. Overall, production recorded a strong expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

In 2019, the average yield of peas (dry) in Italy shrank notably to tonnes per ha, dropping by -% on the year before. Over the period under review, the yield recorded a pronounced decline. The pace of growth was the most pronounced in 2016 with an increase of % year-to-year. Over the period under review, the average dry peas yield hit record highs at tonnes per ha in 2007; however, from 2008 to 2019, 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.

The dry peas harvested area in Italy soared to ha in 2019, with an increase of % against 2018 figures. Overall, the harvested area posted strong growth. The pace of growth was the most pronounced in 2012 with an increase of % against the previous year. Over the period under review, the harvested area dedicated to dry peas production attained the maximum in 2019 and is likely to see gradual growth in years to come.

In 2019, consumption of peas (dry) increased by % to tonnes, rising for the third year in a row after two years of decline. In general, consumption enjoyed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of % year-to-year. Over the period under review, consumption attained the peak volume in 2019 and is likely to continue growth in the immediate term.

The revenue of the dry peas market in Italy expanded notably to $ in 2019, with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when the market value increased by % year-to-year. Dry peas consumption peaked in 2019 and is expected to retain growth in the immediate term.

Driven by increasing demand for dry peas in Italy, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .

Dry peas market in Italy consists almost entirely of imported products.

Italy remains a net importer of dry peas; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.