Canada: Yams Market 2024

Yams Market Size in Canada

In 2022, the Canadian yams market decreased by -2.8% to $X, falling for the second consecutive year after two years of growth. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -9.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Yams Exports

Exports from Canada

In 2022, yams exports from Canada skyrocketed to X tons, picking up by 680% compared with the previous year. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 12,565% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, yams exports skyrocketed to $X in 2022. Overall, exports saw notable growth. The pace of growth was the most pronounced in 2018 when exports increased by 102,879%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons), the United States (X tons) and Togo (X tons) were the main destinations of yams exports from Canada.

From 2014 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +38.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for yams exported from Canada were China ($X), the United States ($X) and Togo ($X).

Among the main countries of destination, Togo, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average yams export price amounted to $X per ton, falling by -43.8% against the previous year. Over the period under review, the export price recorded a sharp setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 713%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-31.8%).

Yams Imports

Imports into Canada

In 2022, overseas purchases of yams decreased by -7.3% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 24%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, yams imports dropped to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.1% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 39%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest yams supplier to Canada, accounting for a 70% share of total imports. Moreover, yams imports from the United States exceeded the figures recorded by the second-largest supplier, Ghana (X tons), fivefold. Jamaica (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+15.7% per year) and Jamaica (+2.9% per year).

In value terms, the United States ($X) constituted the largest supplier of yams to Canada, comprising 62% of total imports. The second position in the ranking was taken by Jamaica ($X), with an 18% share of total imports. It was followed by Ghana, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Jamaica (+6.3% per year) and Ghana (+18.7% per year).

Import Prices by Country

In 2022, the average yams import price amounted to $X per ton, surging by 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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