Eastern Asia: Sweet Potato Market 2024

Sweet Potato Market Size in Eastern Asia

The East Asian sweet potato market declined modestly to $X in 2023, reducing by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs 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 dropped modestly to $X in 2023 estimated in export price. Overall, production posted a modest expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

China (X tons) remains the largest sweet potato producing country in Eastern Asia, accounting for X% of total volume.

In China, sweet potato production decreased by an average annual rate of X% over the period from 2012-2023.

In 2023, the average yield of sweet potatoes in Eastern Asia fell modestly to X tons per ha, approximately mirroring the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by X%. Over the period under review, the sweet potato yield attained the peak level at X tons per ha in 2018; however, from 2019 to 2023, 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.

In 2023, the sweet potato harvested area in Eastern Asia reached X ha, therefore, remained relatively stable against 2022 figures. Over the period under review, the harvested area, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. 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 remained at a lower figure.

Sweet Potato Exports

Exports in Eastern Asia

Sweet potato exports soared to X tons in 2023, picking up by X% compared with the previous year. In general, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, sweet potato exports soared to $X in 2023. Over the period under review, exports posted a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

China represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Japan (X tons), achieving a X% share of total exports. The following exporters - South Korea (X tons) and Taiwan (Chinese) (X tons) - each recorded 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 China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Japan, 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

The export price in Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Export price indicated a tangible 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 most prominent rate of growth was recorded in 2016 when the export price increased by 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 remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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, supplies from abroad of sweet potatoes decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, sweet potato imports dropped to $X in 2023. Total imports indicated tangible growth from 2012 to 2023: its value 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 pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2022, and then contracted in the following year.

Imports by Country

Japan represented the major importer of sweet potatoes in Eastern Asia, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. China (X tons) ranks second in terms of the total imports with a X% share, followed by Hong Kong SAR (X%), Macao SAR (X%) and Taiwan (Chinese) (X%).

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) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in Eastern Asia stood at $X per ton in 2023, which is down 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. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($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