Canada: Sweet Potato Market 2024

Sweet Potato Market Size in Canada

In 2021, the Canadian sweet potato market increased by 10% to $X, rising for the second consecutive year after five years of decline. In general, consumption, however, saw a mild setback. Sweet potato consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Sweet Potato Exports

Exports from Canada

In 2021, after seven years of growth, there was decline in overseas shipments of sweet potatoes, when their volume decreased by -4.7% to X tons. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 762%. The exports peaked at X tons in 2020, and then reduced in the following year.

In value terms, sweet potato exports totaled $X in 2021. In general, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 1,258%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for sweet potato exports from Canada, with a 79% share of total exports. Moreover, sweet potato exports to the Netherlands exceeded the volume sent to the second major destination, Israel (X tons), ninefold. Norway (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +129.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+27.4% per year) and Norway (+90.1% per year).

In value terms, the Netherlands ($X) remains the key foreign market for sweet potatoes exports from Canada, comprising 76% of total exports. The second position in the ranking was held by Israel ($X), with an 8.5% share of total exports. It was followed by the United States, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands stood at +69.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+39.6% per year) and the United States (+27.7% per year).

Export Prices by Country

In 2021, the average sweet potato export price amounted to $X per ton, rising by 7.2% against the previous year. Over the period under review, the export price, however, saw a mild setback. The growth pace was the most rapid in 2015 an increase of 58%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Potato Imports

Imports into Canada

In 2021, the amount of sweet potatoes imported into Canada expanded rapidly to X tons, increasing by 6.5% compared with the previous year's figure. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.3% against 2014 indices. The pace of growth appeared the most rapid in 2015 with an increase of 21%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, sweet potato imports dropped slightly to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.5% against 2012 indices. The pace of growth was the most pronounced in 2020 when imports increased by 14%. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

In 2021, the United States (X tons) was the main sweet potato supplier to Canada, with a 94% share of total imports. It was followed by Honduras (X tons), with a 2% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+5.8% per year) and Jamaica (-1.4% per year).

In value terms, the United States ($X) constituted the largest supplier of sweet potatoes to Canada, comprising 89% of total imports. The second position in the ranking was held by Jamaica ($X), with a 3.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Jamaica (+0.9% per year) and Honduras (+5.9% per year).

Import Prices by Country

The average sweet potato import price stood at $X per ton in 2021, which is down by -9.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Jamaica ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jamaica (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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