Asia: Sweet Potato Market 2024

Sweet Potato Market Size in Asia

The Asian sweet potato market declined modestly to $X in 2023, approximately equating the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Sweet Potato Production in Asia

In value terms, sweet potato production reduced slightly to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

China (X tons) remains the largest sweet potato producing country in Asia, comprising approx. X% of total volume. It was followed by India (X tons), with a X% share of total production. The third position in this ranking was taken by Indonesia (X tons), with a X% share.

In China, sweet potato production decreased by an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: India (X% per year) and Indonesia (X% per year).

In 2023, the average sweet potato yield in Asia was estimated at X tons per ha, remaining stable against 2022 figures. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by X%. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2023, the yield failed to regain momentum. 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 Asia expanded modestly to X ha, surging by X% compared with 2022. Over the period under review, the harvested area, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2023, the harvested area stood at a somewhat lower figure.

Sweet Potato Exports

Exports in Asia

In 2023, shipments abroad of sweet potatoes was finally on the rise to reach X tons after two years of decline. Over the period under review, exports posted a resilient expansion. 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 reached the maximum at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, sweet potato exports reached $X in 2023. In general, exports enjoyed a strong increase. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, China (X tons) and Vietnam (X tons) represented the largest exporters of sweet potatoes in Asia, together finishing at near X% of total exports. Indonesia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Lao People's Democratic Republic (X%) and Japan (X%). The following exporters - Thailand (X tons) and Malaysia (X tons) - each finished at a X% share of total exports.

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 ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Indonesia, Lao People's Democratic Republic, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Lao People's Democratic Republic ($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 mixed trends in the export price figures.

Sweet Potato Imports

Imports in Asia

In 2023, approx. X tons of sweet potatoes were imported in Asia; approximately equating the year before. Total imports indicated pronounced growth 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 most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, sweet potato imports contracted to $X in 2023. In general, imports showed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of sweet potato imports in 2023 were Malaysia (X tons), Thailand (X tons), Saudi Arabia (X tons), Japan (X tons), the United Arab Emirates (X tons) and Singapore (X tons), together recording X% of total import. China (X tons), Hong Kong SAR (X tons), Kuwait (X tons) and Qatar (X tons) took a little share of total imports.

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

In value terms, the largest sweet potato importing markets in Asia were Thailand ($X), Japan ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. Malaysia, Singapore, the United Arab Emirates, Saudi Arabia, Kuwait, China and Qatar lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, reducing by 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 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Saudi Arabia ($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 more modest paces of growth.

Source: IndexBox Platform