Japan: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Japan

The Japanese taro (cocoyam) market contracted to $X in 2022, remaining stable against the previous year. In general, consumption, however, showed a perceptible contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Taro (Cocoyam) Production in Japan

In value terms, taro (cocoyam) production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced reduction. The growth pace was the most rapid in 2016 when the production volume increased by 27% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, (cocoyam) production growth remained at a somewhat lower figure.

In 2022, the average yield of taro in Japan reached X tons per ha, stabilizing at 2021 figures. Overall, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the yield increased by 3.3% against the previous year. Over the period under review, the average taro (cocoyam) yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the 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.

In 2022, the total area harvested in terms of taro production in Japan totaled X ha, remaining relatively unchanged against 2021. Over the period under review, the harvested area, however, continues to indicate a pronounced descent. The taro (cocoyam) harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Taro (Cocoyam) Exports

Exports from Japan

In 2022, overseas shipments of taro increased by 255% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 424%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, taro (cocoyam) exports surged to $X in 2022. Over the period under review, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by 559% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for taro (cocoyam) exports from Japan, accounting for a 55% share of total exports. Moreover, taro (cocoyam) exports to Thailand exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), threefold. Djibouti (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-12.5% per year) and Djibouti (-16.2% per year).

In value terms, Thailand ($X) emerged as the key foreign market for taro exports from Japan, comprising 59% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by Singapore, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Thailand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-6.4% per year) and Singapore (-6.0% per year).

Export Prices by Country

In 2022, the average taro (cocoyam) export price amounted to $X per ton, picking up by 74% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, taro (cocoyam) export price increased by +81.5% against 2019 indices. The export price peaked at $X per ton in 2016; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Djibouti ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports into Japan

In 2022, approx. X tons of taro were imported into Japan; reducing by -3.3% on the previous year. In general, imports recorded a pronounced setback. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. Over the period under review, (cocoyam) imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, taro (cocoyam) imports rose significantly to $X in 2022. Over the period under review, imports recorded a mild reduction. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of taro (cocoyam) to Japan, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -3.2%.

In value terms, China ($X) constituted the largest supplier of taro to Japan.

From 2012 to 2022, the average annual growth rate of value from China totaled -1.8%.

Import Prices by Country

The average taro (cocoyam) import price stood at $X per ton in 2022, with an increase of 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 35%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :