| Make foodmate.com your Homepage | Wap | Archiver
Advanced Top
Search Promotion
Search Promotion
Post New Products
Post New Products
Business Center
Business Center
 
Current Position:Home » News » Agri & Animal Products » Topic

Overview of Global Sweet Potato Market

Zoom in font  Zoom out font Published: 2016-09-18  Views: 18
Core Tip: Sweet potatoes are grown and consumed worldwide. The share of the production that is traded on the world market is relatively small.
Sweet potatoes are grown and consumed worldwide. The share of the production that is traded on the world market is relatively small. Many countries mainly grow it for the domestic market. Europe is a large importer of sweet potatoes, especially from the United States. Sweet potatoes have been recording growth since 2012 and trade is on the rise. China stands head and shoulders above the rest of the world with a production of more than seventy million tonnes in 2014.

The European market for sweet potatoes is still relatively small, but it is growing rapidly. In 2014, Europe imported 124,000 tonnes of sweet potatoes, of which 7 tonnes were intended for consumption. Imports of this exotic species have doubled in five years. Supermarkets cater to the increasing demand for sweet potatoes. In Europe, the United Kingdom and the Netherlands are large importers. The Netherlands acts as a transit port to the rest of Europe. The US is the largest supplier, with a market share of seventy percent. Within Europe, sweet potatoes are produced in Spain, Portugal, Italy and Greece.

US: Harvest started in North Carolina

The sweet potato harvest in North Carolina, which accounts for half of the North American sweet potato production, kicked off last week. The harvest is still in its early stages, so growers are reluctant to give their forecasts, but the early signs point to a good production after reasonably favourable conditions during the growing season. The biggest challenge is to carry out the harvest with traditional methods before cooler weather arrives. Growers must harvest before the soil becomes too cold and, furthermore, during the hurricane season there is always the threat of torrential rains.

The production of sweet potatoes is concentrated mainly in the south east, but there are also crops in California. Louisiana had to deal with a lot of rainfall last month, but its impact on the sweet potato production was limited. Prices currently stand at an average level, but may drop if North Carolina hits the market with large volumes. All in all, growers are not too afraid, because sweet potatoes are recording increasing demand worldwide. Health-conscious consumers in particular, consume a lot of sweet potatoes and restaurants and the processing industry are taking good advantage of this in the US.

The export value of sweet potatoes last year amounted to 139 million dollars, an increase of 110% compared to 2010; however, the export accounts just for a small part of the total sales of sweet potatoes in the country. A whopping 90% of American sweet potatoes are consumed domestically. The state of North Carolina accounts for 71% of the production intended for export, followed by Mississippi (7%), California (6%), Louisiana (2%), Virginia (2%) and Arkansas (1%).

In 2015, North America exported a record volume of 181,000 tonnes of sweet potatoes, 33% more than a year earlier and twice as much as in 2010. As far as exports are concerned, the United Kingdom received the largest volume (82,000 tonnes/ 45%), followed by Canada (55 109 tonnes / 30%) and other European countries (42,500 tonnes / 23%).

UK: 50% sales growth per year
The United Kingdom is achieving the most noteworthy figures as regards sweet potato imports. According to traders, these have recorded a yearly growth of 50%. Most sweet potatoes are imported from the United States, but because of the increasing demand, they are also increasingly looking to other producing countries to cover both domestic consumption and exports. Among these are Spain, which is recording a considerable increase in its production; Portugal, which is a relative newcomer, and Egypt, which has some good varieties for export. In Honduras there are also good producers, but here the certifications are still sometimes a problem.

The American Covington and the Spanish Beauregrad varieties, together, have a share of about 95% of the market. The rights for the Covington are owned by the University of North Carolina and it cannot be grown outside the US. The Evangeline variety is emerging. Meanwhile, there is also some domestic production, but not on a large scale. The price of sweet potatoes in the UK is relatively stable, and according to traders, the product is not very price sensitive.

China: Largest producer worldwide, but mainly for animal feed
In China, the cultivation of sweet potatoes takes place mainly in the north western regions of the Shandong province and in the south of the country, including the Hainan province. China is the world's largest producer of sweet potatoes, but the bulk of the production is used for animal feed. Unlike other producing countries, the cultivation of sweet potatoes in China has shown a downward trend in recent years, as the lands have been converted to rice, but in recent years there has been a growing demand for the product. The plantings in southern Hainan have increased this year due to the rising demand in recent seasons. The acreage is also expected to expand in Shandong.

The most common variety in China is the Ganshu. The crops in the north are harvested in the autumn and summer, while those in the south are harvested in the autumn, winter and spring. This year's domestic production has been 10-20% lower due to the extreme winter weather. This has led to prices remaining stable, with an average of $ 2.50 for the premium product. The growth is partly explained by the product's known health benefits, but also by the popularity of ready-to-eat sweet potatoes imported from South Korea and Japan.

Honduras: More competition
Honduras has a year-round production of sweet potatoes, although the volume is smaller during the summer because of the impact of rainfall. The Netherlands and Canada are its major export markets. There will be more competition from other countries, such as the US, Egypt and Brazil, leading to more pressure on prices. This competition has increased dramatically in recent years. The abundant supply is putting pressure on both prices and quality standards. Part of the production is now no longer marketable, while in the past it was still acceptable in times of lower supply. Thanks to its year-round production, Honduras does not rely on the product's preservation and can therefore always offer a fresh product. For import customers, this is certainly considered an advantage.

Poland: Still a niche product

Unlike many other European countries, sweet potatoes in Poland are still perceived as a niche product. A supermarket buyer expects the product to achieve a greater sales potential as long as the quality improves.

Denmark: No big demand, but peak in late summer
In Denmark, according to importers, there is not much demand for sweet potatoes. They also do not buy containers, but often just pallets from The Netherlands. Since there are currently so many countries in the market, the price level is lower. The late summer is traditionally the peak period for sweet potato sales.

Spain: Cultivation growing by 25-30% annually
In Spain, the sweet potato production is now in full swing. The harvest kicked off in mid-August in San Lucar de Barrameda, the main growing region of Spain (and thus of Europe). Revenues this year are lower due to the impact of the weather during the spring. The sizes are smaller, but there is actually a good demand for small sizes, so that can be beneficial for the sector. The prices are at a similar level as last year, but sales are showing a good momentum.

In Spain, the acreage devoted to sweet potato cultivation is expanding by about 25-30% per year. The UK is the largest export market, followed by Germany, but shipments to Belgium and the Netherlands are also growing significantly. Spanish consumers have always preferred the California variety, while in the rest of Europe, the Beaurregard or Georgia Jets are more desirable. Most major supermarket chains want to keep sweet potatoes on their shelves all year round. Although the product is still often perceived as an exotic species, consumers are willing to learn more about it. Spain also benefits from the product's promotion from America.

At present, Spanish sweet potatoes compete mainly with their Egyptian and Israeli counterparts, whose prices are well below those of the Spanish.

Taiwan: Typhoon Meranti causes damage

In Taiwan, sweet potatoes are harvested until mid-December, but the campaign can be extended by storing the product at 15 degrees. This year, Typhoon Meranti caused significant damage to the production, creating some concerns amongst growers for the next season. The production of the Golden Sweet-variety is expected to fall by around 20%. Snowfall could also sharply affect the quality of the sweet potatoes, as was the case last year. Taiwan's exports go mostly to Singapore and Hong Kong.

Egypt: Good demand from Russia and Gulf States

Egyptian sweet potatoes are becoming increasingly popular, especially in the Gulf States and Russia, although a lot of Egyptian sweet potatoes are also going to the European market. Some producers report they are actually unable to meet the European demand. They prefer to supply the Gulf States, where sweet potatoes are used in many dishes. Russia remains a large market, but also a tricky market because of claims and payment issues. Exporters also see potential in a market like Dubai, due to the many expats who consume sweet potatoes.

Netherlands: Sweet potatoes now a conventional product
While ten years ago not a single publication talked about sweet potatoes in the Netherlands, now it has become a conventional product. Traders believe that a consumption growth of between 10 and 20% per year in the coming years is certainly possible. Meanwhile, other producing countries are trying to get a share of the market. This, according to importers, is because sweet potatoes are relatively easy to grow. Right now, there are ten countries of origin on the market, including Egypt, Israel, Spain and Portugal, but experiments are also being conducted in The Netherlands. In Africa, consumers are also coming to terms with the fact that the orange sweet potato is a tasty and nutritious product.

Importers expect the United States to remain as the largest supplier of sweet potatoes. This country has invested heavily in cooling and sweet potatoes are stored for four to six weeks until they get a hard shell. Furthermore, the United States has the advantage of being able to supply all year round. Price-wise, it has not been an easy season. The dollar fluctuated considerably and at one moment was worth 1.08 Euro and at another 1.14 Euro."

Belgium: Most sales in winter
A Belgian importer is currently focusing on Senegal and the United States, but is also getting some Egyptian and Spanish product. The price levels are stable. In summer, the demand is always low, even though some growth is recorded every year; however, sales in the winter months are still much greater. The Benelux countries and Scandinavia are the largest markets, but sales are also growing in France.

 
keywords: sweet potatoes
 
[ News search ]  [ ]  [ Notify friends ]  [ Print ]  [ Close ]

 
 
0 in all [view all]  Related Comments

 
Hot Graphics
Hot News
Hot Topics
 
 
Powered by Global FoodMate
Message Center(0)