HS Code:
Peas, classified under HS Code 071310 for dried peas and 071021 for frozen peas, are a significant category in global agricultural trade. This category includes various types of peas such as green peas, yellow peas, and split peas, which are used for human consumption, animal feed, and industrial purposes. Peas are a staple in many diets worldwide due to their high nutritional value, including protein, fiber, and essential vitamins. The trade of peas is influenced by seasonal production, climatic conditions, and demand for plant-based protein alternatives.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database & International Trade Centre (ITC)
USD 1.2 billion
48% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 200 million
8% of total trade of total trade
Decreasing
USD 150 million
6% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
35% (applied by certain South Asian countries to protect domestic farmers)
Lowest Rate
0% (under free trade agreements like EU-Canada CETA)
Rising demand for plant-based proteins
Increased export opportunities for pea-producing countries as peas are used in protein isolates and meat alternatives
2021-2022
Climate change affecting production
Unpredictable weather patterns in key regions like Canada and Russia have led to supply volatility
2020-2022
Shift towards sustainable farming
Growing preference for organically grown peas, impacting trade dynamics and pricing
2019-2022
Canada, a leading exporter of peas, is negotiating tariff reductions with India, a major importer, to boost trade.
March 2023
Potential increase in Canadian pea exports to India, affecting global supply chains.
New EU regulations under the Green Deal are promoting sustainable pea cultivation, influencing import standards.
January 2023
Exporters to the EU must comply with stricter environmental standards, potentially increasing costs.
Geopolitical tensions have disrupted pea exports from Ukraine, shifting demand to other suppliers like Canada and Australia.
February 2022 onwards
Price increases and supply chain disruptions in Eastern European markets.