China: Potato Market 2024

Potato Market Size in China

The Chinese potato market rose significantly to $X in 2021, increasing by 6% against the previous year. The market value increased at an average annual rate of +4.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Potato consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Potato Production in China

In value terms, potato production rose remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.1% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 49%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

The average yield of potatoes in China reached X tons per ha in 2021, approximately mirroring the previous year's figure. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the yield increased by 4.2%. As a result, the yield attained the peak level of X tons per ha. From 2019 to 2021, the growth of the average potato yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The potato harvested area in China reduced slightly to X ha in 2021, with a decrease of -2.1% on the year before. Over the period under review, the harvested area saw a perceptible descent. The pace of growth was the most pronounced in 2020 with an increase of 4.4%. The potato harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Potato Exports

Exports from China

In 2021, potato exports from China fell to X tons, which is down by -12.1% against 2020 figures. In general, total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -40.0% against 2014 indices. The pace of growth appeared the most rapid in 2014 with an increase of 128%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, potato exports fell rapidly to $X in 2021. Over the period under review, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 113%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of potato exports from China, with a combined 76% share of total exports. These countries were followed by Singapore, Russia, Hong Kong SAR, Sri Lanka and the United Arab Emirates, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +15.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for potato exports from China, comprising 57% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports. It was followed by Hong Kong SAR, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-2.5% per year) and Hong Kong SAR (+31.6% per year).

Export Prices by Country

The average potato export price stood at $X per ton in 2021, shrinking by -16.7% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, potato export price decreased by -30.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 35% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Sri Lanka ($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 Hong Kong SAR (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Imports

Imports into China

In 2021, overseas purchases of potatoes decreased by -16.4% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 546% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, potato imports contracted slightly to $X in 2021. In general, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 575% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest potato supplier to China, with a 48% share of total imports. Moreover, potato imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. Nigeria (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+50.3% per year) and Nigeria (0.0% per year).

In value terms, the United States ($X), Nigeria ($X) and Canada ($X) appeared to be the largest potato suppliers to China, with a combined 67% share of total imports.

Among the main suppliers, Canada, with a CAGR of +54.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potato import price stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, the import price saw a prominent expansion. The growth pace was the most rapid in 2018 an increase of 126%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Vietnam ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+238.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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