Philippines: Yams Market 2024

Yams Market Size in the Philippines

The Philippine yams market totaled $X in 2022, increasing by 7.7% against the previous year. Over the period under review, consumption, however, showed a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Yams Production in the Philippines

In value terms, yams production soared to $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 118%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of yams in the Philippines shrank to X tons per ha, with a decrease of -1.5% against the previous year's figure. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 3.4%. Over the period under review, the average yams yield reached the maximum level at X tons per ha in 2012; however, from 2013 to 2022, 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.

The yams harvested area in the Philippines amounted to X ha in 2022, remaining relatively unchanged against the year before. Over the period under review, the harvested area, however, recorded a mild decrease. The growth pace was the most rapid in 2016 with an increase of 1.8%. Over the period under review, the harvested area dedicated to yams production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Yams Exports

Exports from the Philippines

In 2022, shipments abroad of yams decreased by -25.5% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted noticeable growth. The growth pace was the most rapid in 2019 when exports increased by 57%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced remarkably in the following year.

In value terms, yams exports shrank dramatically to $X in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 133%. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

The United States (X tons) was the main destination for yams exports from the Philippines, accounting for a 48% share of total exports. Moreover, yams exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 15% share.

From 2017 to 2022, the average annual rate of growth in terms of volume to the United States totaled -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.6% per year) and the UK (+2,460.7% per year).

In value terms, the United States ($X) remains the key foreign market for yams exports from the Philippines, comprising 48% of total exports. The second position in the ranking was held by Canada ($X), with an 18% share of total exports. It was followed by the UK, with a 15% share.

From 2017 to 2022, the average annual growth rate of value to the United States stood at +14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+20.5% per year) and the UK (+2,932.9% per year).

Export Prices by Country

In 2022, the average yams export price amounted to $X per ton, falling by -2% against the previous year. Overall, the export price, however, showed buoyant growth. The pace of growth appeared the most rapid in 2021 when the average export price increased by 51%. As a result, the export price attained the peak level of $X per ton, and then contracted modestly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and the United States ($X per ton), while the average price for exports to Guam ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Yams Imports

Imports into the Philippines

In 2022, overseas purchases of yams decreased by -99.6% to X kg, falling for the third year in a row after three years of growth. In general, imports faced a deep reduction. The pace of growth was the most pronounced in 2018 when imports increased by 1,541%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, yams imports contracted markedly to $X in 2022. Over the period under review, imports saw a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 1,739%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X kg) constituted the largest yams supplier to the Philippines, accounting for a 69% share of total imports. Moreover, yams imports from Japan exceeded the figures recorded by the second-largest supplier, China (X kg), twofold.

From 2017 to 2022, the average annual growth rate of volume from Japan was relatively modest.

In value terms, Japan ($X) constituted the largest supplier of yams to the Philippines, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 31% share of total imports.

From 2017 to 2022, the average annual rate of growth in terms of value from Japan was relatively modest.

Import Prices by Country

In 2022, the average yams import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed strong growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 54% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably 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 Japan stood at $X per ton.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+35.2%).

Source: IndexBox Platform

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