Ecuador: Sweet Potato Market 2024

Sweet Potato Market Size in Ecuador

The Ecuadorian sweet potato market amounted to $X in 2021, with an increase of 2.5% against the previous year. Overall, consumption showed a moderate increase. Sweet potato consumption peaked in 2021 and is expected to retain growth in the immediate term.

Sweet Potato Production in Ecuador

In value terms, sweet potato production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed modest growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

In 2021, the average sweet potato yield in Ecuador contracted modestly to X tons per ha, approximately mirroring the previous year. Overall, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 6.2%. The sweet potato yield peaked at X tons per ha in 2012; however, from 2013 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of sweet potatoes were harvested in Ecuador; picking up by 1.6% against the previous year's figure. The harvested area increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 8% against the previous year. Over the period under review, the harvested area dedicated to sweet potato production reached the peak figure at X ha in 2015; however, from 2016 to 2021, the harvested area remained at a lower figure.

Sweet Potato Exports

Exports from Ecuador

In 2021, sweet potato exports from Ecuador shrank dramatically to X tons, falling by -52% against the previous year. Overall, exports continue to indicate a mild setback. The pace of growth appeared the most rapid in 2013 when exports increased by 8,288%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, sweet potato exports dropped notably to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 6,719%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for sweet potato exports from Ecuador, with a 39% share of total exports. Moreover, sweet potato exports to the United States exceeded the volume sent to the second major destination, Spain (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+26.3% per year) and the Netherlands (+10.0% per year).

In value terms, the United States ($X), Spain ($X) and the Netherlands ($X) were the largest markets for sweet potato exported from Ecuador worldwide, with a combined 69% share of total exports. These countries were followed by Canada, Switzerland, Finland and France, which together accounted for a further 30%.

Switzerland, with a CAGR of +68.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sweet potato export price amounted to $X per ton, rising by 13% against the previous year. In general, the export price posted a noticeable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+34.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Potato Imports

Imports into Ecuador

In 2021, approx. X tons of sweet potatoes were imported into Ecuador; increasing by 7.6% against the previous year's figure. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 3,237% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, sweet potato imports dropped to $X in 2021. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 2,657%. Over the period under review, imports hit record highs at $X in 2020, and then reduced in the following year.

Imports by Country

In 2021, Peru (X tons) constituted the largest sweet potato supplier to Ecuador, accounting for a approx. 10% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Peru totaled +28.2%.

In value terms, Peru ($X) constituted the largest supplier of sweet potatoes to Ecuador.

From 2012 to 2021, the average annual growth rate of value from Peru amounted to +23.1%.

Import Prices by Country

In 2021, the average sweet potato import price amounted to $X per ton, reducing by -11.8% against the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2018 an increase of 36% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Peru.

From 2012 to 2021, the rate of growth in terms of prices for Peru amounted to -4.0% per year.

Source: IndexBox Platform

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