Eastern Asia: Sweet Potato Market 2024

Sweet Potato Market Size in Eastern Asia

The East Asian sweet potato market reduced modestly to $X in 2023, dropping by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Sweet Potato Production in Eastern Asia

In value terms, sweet potato production declined modestly to $X in 2023 estimated in export price. Overall, production continues to indicate mild growth. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production attained the maximum 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 Eastern Asia, comprising approx. X% of total volume.

From 2012 to 2023, the average annual growth rate of volume in China stood at X%.

In 2023, the average sweet potato yield in Eastern Asia reduced modestly to X tons per ha, leveling off at the previous year's figure. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of yield peaked at X tons per ha in 2018; however, from 2019 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, approx. X ha of sweet potatoes were harvested in Eastern Asia; stabilizing at the previous year. Overall, the harvested area, however, continues to indicate a pronounced contraction. The growth pace was the most rapid 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 remained at a lower figure.

Sweet Potato Exports

Exports in Eastern Asia

In 2023, the amount of sweet potatoes exported in Eastern Asia surged to X tons, increasing by X% on 2022. In general, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, sweet potato exports skyrocketed to $X in 2023. Over the period under review, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

China was the major exporter of sweet potatoes in Eastern Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Japan (X tons), generating a X% share of total exports. The following exporters - South Korea (X tons) and Taiwan (Chinese) (X tons) - each finished at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to sweet potato exports from China stood at X%. At the same time, Japan (X%), South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. While the share of Japan (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sweet potato supplying countries in Eastern Asia were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together comprising X% of total exports.

Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. Export price indicated a prominent expansion 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 export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat 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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Sweet Potato Imports

Imports in Eastern Asia

In 2023, overseas purchases of sweet potatoes decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a lower figure.

In value terms, sweet potato imports shrank to $X in 2023. Total imports indicated a pronounced increase from 2012 to 2023: its value 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. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then declined in the following year.

Imports by Country

Japan was the key importer of sweet potatoes in Eastern Asia, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. China (X tons) held the second position in the ranking, followed by Hong Kong SAR (X tons), Macao SAR (X tons) and Taiwan (Chinese) (X tons). All these countries together held near X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to sweet potato imports into Japan stood at X%. At the same time, China (X%), Hong Kong SAR (X%), Macao SAR (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. China (X p.p.), Hong Kong SAR (X p.p.), Macao SAR (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Japan ($X), Hong Kong SAR ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 Eastern Asia amounted to $X per ton, with a decrease of 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. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then dropped in the following year.

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 Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform