ASEAN: Sweet Potato Market 2024

Sweet Potato Market Size in ASEAN

In 2023, after seven years of decline, there was growth in the ASEAN sweet potato market, when its value increased by X% to $X. Over the period under review, consumption, however, showed a perceptible decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Sweet Potato Production in ASEAN

In value terms, sweet potato production stood at $X in 2023 estimated in export price. Overall, production, however, recorded a mild setback. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

The countries with the highest volumes of production in 2023 were Indonesia (X tons), Vietnam (X tons) and the Philippines (X tons), together accounting for X% of total production. Lao People's Democratic Republic, Myanmar and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2023, the average yield of sweet potatoes in ASEAN was estimated at X tons per ha, picking up by X% against 2022 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of yield peaked at X tons per ha in 2020; however, from 2021 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 total area harvested in terms of sweet potatoes production in ASEAN stood at X ha, with an increase of X% compared with the previous year. In general, the harvested area, however, showed a abrupt setback. Over the period under review, the harvested area dedicated to sweet potato production attained the maximum at X ha in 2012; however, from 2013 to 2023, the harvested area failed to regain momentum.

Sweet Potato Exports

Exports in ASEAN

Sweet potato exports amounted to X tons in 2023, standing approx. at 2022 figures. In general, exports showed a tangible increase. The pace of growth was the most pronounced in 2016 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, sweet potato exports expanded notably to $X in 2023. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Vietnam (X tons) was the key exporter of sweet potatoes, constituting X% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a X% share, followed by Lao People's Democratic Republic (X%). Thailand (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest sweet potato supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Lao People's Democratic Republic, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Vietnam stood at X%. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Sweet Potato Imports

Imports in ASEAN

In 2023, supplies from abroad of sweet potatoes decreased by X% to X tons, falling for the second year in a row after five years of growth. Total imports indicated a perceptible expansion from 2012 to 2023: its volume 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, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, sweet potato imports fell remarkably to $X in 2023. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Malaysia (X tons) and Thailand (X tons) represented the key importers of sweet potatoes in ASEAN, together mixing up X% of total imports. It was distantly followed by Singapore (X tons), generating a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest sweet potato importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Singapore ($X), together comprising X% of total imports.

Among the main importing countries, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, waning by X% against the previous year. Import price indicated a noticeable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, sweet potato import price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the import prices failed to regain momentum.

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 Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform