Vietnam: Yams Market 2024

Yams Market Size in Vietnam

The Vietnamese yams market shrank significantly to $X in 2022, declining by -33.7% against the previous year. In general, consumption faced a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Yams Production in Vietnam

In value terms, yams production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a slight decrease. The pace of growth appeared the most rapid in 2015 with an increase of 19%. Yams production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

In 2022, the average yams yield in Vietnam was estimated at less than X kg per ha, remaining stable against the previous year's figure. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the yams harvested area in Vietnam stood at less than X ha, therefore, remained relatively stable against 2021. In general, the harvested area showed a relatively flat trend pattern.

Yams Exports

Exports from Vietnam

Yams exports from Vietnam rose significantly to X tons in 2022, with an increase of 5.6% on the previous year's figure. Over the period under review, exports posted a strong increase. The growth pace was the most rapid in 2019 with an increase of 46%. The exports peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, yams exports amounted to $X in 2022. In general, exports posted a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 38% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for yams exports from Vietnam, with a 61% share of total exports. Moreover, yams exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), sevenfold. The third position in this ranking was held by Australia (X tons), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+22.8% per year) and Australia (+55.6% per year).

In value terms, Japan ($X) emerged as the key foreign market for yams exports from Vietnam, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+53.3% per year) and Australia (+85.0% per year).

Export Prices by Country

In 2022, the average yams export price amounted to $X per ton, shrinking by -2.8% against the previous year. In general, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the average price for exports to Japan ($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 the United States (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Yams Imports

Imports into Vietnam

In 2022, purchases abroad of yams was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 329%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, yams imports reached $X in 2022. Overall, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 223% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main yams supplier to Vietnam, accounting for a 96% share of total imports. Moreover, yams imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -7.2%.

In value terms, China ($X) constituted the largest supplier of yams to Vietnam, comprising 94% of total imports. The second position in the ranking was held by Japan ($X), with a 5.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -4.7%.

Import Prices by Country

In 2022, the average yams import price amounted to $X per ton, rising by 5.4% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yams import price decreased by -41.6% against 2017 indices. The growth pace was the most rapid in 2017 an increase of 45% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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