Cuba: Potato Market 2024

Potato Market Size in Cuba

After three years of decline, the Cuban potato market increased by 4.7% to $X in 2021. Overall, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.6% against 2017 indices. Potato consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Potato Production in Cuba

In value terms, potato production rose modestly to $X in 2021 estimated in export price. Over the period under review, production posted a noticeable expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 142% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of potatoes in Cuba shrank modestly to X tons per ha, standing approx. at 2020. In general, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by 9.4%. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2021, the growth of the average potato yield remained at a somewhat 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 Cuba rose significantly to X ha in 2021, picking up by 6.7% against the year before. In general, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 112%. The potato harvested area peaked at X ha in 2017; however, from 2018 to 2021, the harvested area remained at a lower figure.

Potato Exports

Exports from Cuba

In 2021, exports of potatoes from Cuba contracted modestly to X tons, with a decrease of -2.1% against the previous year. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2020 when exports increased by 15%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, potato exports soared to $X in 2021. In general, exports saw a abrupt decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Jamaica (X tons) was the main destination for potato exports from Cuba, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Jamaica totaled -18.2%.

In value terms, Jamaica ($X) also remains the key foreign market for potato exports from Cuba.

From 2012 to 2021, the average annual growth rate of value to Jamaica amounted to -12.6%.

Export Prices by Country

The average potato export price stood at $X per ton in 2021, rising by 35% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, potato export price increased by +82.3% against 2012 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Jamaica.

From 2012 to 2021, the rate of growth in terms of prices for Jamaica amounted to +6.9% per year.

Potato Imports

Imports into Cuba

In 2021, approx. X tons of potatoes were imported into Cuba; growing by 37% against the previous year's figure. In general, imports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2014 when imports increased by 167%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, potato imports soared to $X in 2021. Over the period under review, imports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 158%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest potato supplier to Cuba, accounting for a 83% share of total imports. Moreover, potato imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Canada (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands totaled -2.2%.

In value terms, the Netherlands ($X) constituted the largest supplier of potato to Cuba, comprising 88% of total imports. The second position in the ranking was held by Canada ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands stood at -1.6%.

Import Prices by Country

In 2021, the average potato import price amounted to $X per ton, growing by 4.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 6.8% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.6%).

Source: IndexBox Platform

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