South-Eastern Asia: Sweet Potato Market 2024

Sweet Potato Market Size in South-Eastern Asia

After seven years of decline, the Southeast Asian sweet potato market increased by X% to $X in 2023. Over the period under review, consumption, however, showed a perceptible curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Sweet Potato Production in South-Eastern Asia

In value terms, sweet potato production expanded modestly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a slight reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked 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 most notable rate of growth in terms of production, amongst the key producing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average sweet potato yield reached X tons per ha in 2023, increasing by X% against the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The level of yield peaked at X tons per ha in 2020; however, from 2021 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 sweet potato harvested area in South-Eastern Asia rose significantly to X ha, surging by X% against 2022 figures. Overall, the harvested area, however, recorded a abrupt decrease. 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 South-Eastern Asia

In 2023, approx. X tons of sweet potatoes were exported in South-Eastern Asia; remaining relatively unchanged against the year before. Overall, exports continue to indicate a notable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs 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 buoyant increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Vietnam (X tons) represented the major exporter of sweet potatoes, making up 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%). 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 ($X) remains the largest sweet potato supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($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 amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 South-Eastern Asia

In 2023, overseas purchases of sweet potatoes decreased by X% to X tons, falling for the second consecutive year after five years of growth. Total imports indicated noticeable 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 pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, sweet potato imports fell notably to $X in 2023. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. 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 major importers of sweet potatoes in South-Eastern Asia, together generating X% of total imports. It was distantly followed by Singapore (X tons), mixing up 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, Thailand ($X), Malaysia ($X) and Singapore ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Malaysia, with a CAGR of X%, saw the highest growth rate of 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

In 2023, the import price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. Import price indicated a pronounced increase from 2012 to 2023: its price 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, sweet potato import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, import price reached 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 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