Root and Tuber Prices in the United States

U.S. Root and Tuber Export Price per Ton in June 2022

In June 2022, the root and tuber price per ton amounted to $584.1 (FOB, US), growing by 3.2% against the previous month. In general, the export price, however, saw a mild downturn. The most prominent rate of growth was recorded in April 2022 when the average export price increased by 6.6% month-to-month. The export price peaked at $620.8 per ton in January 2022; however, from February 2022 to June 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In June 2022, the countries with the highest prices were Mexico ($666.0 per ton) and Belgium ($663.0 per ton), while the average price for exports to Canada ($488.0 per ton) and Taiwan (Chinese) ($501.0 per ton) were amongst the lowest.

From January 2022 to June 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

U.S. Root and Tuber Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In August 2022, the product with the highest price was cassava ($1.7K per ton), while the average price for exports of potatoes ($607.1 per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for the following types: cassava (+3.3%), while the prices for the other products experienced more modest paces of growth.

U.S. Root and Tuber Exports

In August 2022, exports of roots and tubers from the United States dropped slightly to 72K tons, with a decrease of -3.6% against the previous month. The total export volume increased at an average monthly rate of +2.6% from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth appeared the most rapid in March 2022 when exports increased by 27% m-o-m.

In value terms, root and tuber exports reached $46M (IndexBox estimates) in August 2022. The total export value increased at an average monthly rate of +2.9% from January 2022 to August 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in April 2022 with an increase of 17% against the previous month. As a result, the exports reached the peak of $49M. From May 2022 to August 2022, the growth of the exports remained at a lower figure.

U.S. Root and Tuber Exports by Type

Potatoes (56K tons) was the largest type of root and tuber exported from the United States, accounting for a 78% share of total exports. Moreover, potatoes exceeded the volume of the second product type, sweet potatoes (14K tons), fourfold. Roots and tubers, nes (1.7K tons) ranked third in terms of total exports with a 2.4% share.

From January 2022 to August 2022, the average monthly growth rate of the volume of export of potatoes amounted to +7.2%. With regard to the other exported products, the following average monthly rates of growth were recorded: sweet potatoes (-7.2% per month) and roots and tubers, nes (+0.9% per month).

In value terms, potatoes ($34M) remains the largest type of root and tuber exported from the United States, comprising 74% of total exports. The second position in the ranking was taken by sweet potatoes ($9.3M), with a 20% share of total exports. It was followed by roots and tubers, nes, with a 5.3% share.

From January 2022 to August 2022, the average monthly growth rate of the export volume of potatoes stood at +8.5%. With regard to the other exported products, the following average monthly rates of growth were recorded: sweet potatoes (-7.3% per month) and roots and tubers, nes (+1.0% per month).

U.S. Root and Tuber Exports by Country

Canada (35K tons) was the main destination for root and tuber exports from the United States, with a 45% share of total exports. Moreover, root and tuber exports to Canada exceeded the volume sent to the second major destination, Mexico (10K tons), threefold. The third position in this ranking was taken by the Netherlands (8.3K tons), with an 11% share.

From January 2022 to June 2022, the average monthly growth rate of volume to Canada totaled +16.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (-0.3% per month) and the Netherlands (+2.3% per month).

In value terms, Canada ($17M) remains the key foreign market for root and tuber exports from the United States, comprising 38% of total exports. The second position in the ranking was held by Mexico ($6.8M), with a 15% share of total exports. It was followed by the Netherlands, with an 11% share.

From January 2022 to June 2022, the average monthly growth rate of value to Canada stood at +14.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (+2.0% per month) and the Netherlands (+2.5% per month).

Source: IndexBox Market Intelligence Platform