Sweet potatoe market in Latin America and the Caribbean

Earlier Report Observations

Between 2018 and 2019, the sweet potato market volume in Latin America and the Caribbean remained stable at around 2.18 million tons, despite a 7.1% reduction in planted area in Brazil due to drought conditions and a truckers' strike that affected distribution. Market stability was supported by positive profitability in the fresh segment and the early growth of the frozen pre-fried sweet potato industry, which offered an alternative outlet for production.

Market volume fell to 2.01 million tons in 2020, coinciding with a stronger US dollar that limited imports of frozen sweet potato products and broader economic disruptions, though demand began recovering from mid-year. A rebound to 2.09 million tons followed in 2021, even as producers faced persistent challenges from pests, diseases, and high labor costs. Volume dipped again to 1.99 million tons in 2022, yet the frozen pre-fried sweet potato segment expanded rapidly at a 10% annual rate, driven by investments from major players McCain and Bem Brasil. This expansion contributed to market recovery in 2023, with volume reaching 2.1 million tons after McCain inaugurated a new $150 million processing plant in Araxá, increasing year-round production capacity.

Into 2024, the market continued its shift towards processed products, highlighted by the opening of a sustainable frozen sweet potato factory in Araxá. Consumer preferences moved further from fresh to frozen convenience foods, supported by urbanization, lifestyle changes, and advancements in cold chain technology across the region.

Production sweet potatoe in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of sweet potatoe, 2017-2020

World map of production of sweet potatoe, 2017-2020

Sweet potato production in Latin America and the Caribbean saw a decline after two years of growth. In 2019, production reached its peak at 2,217 thousand tonnes, but then fell by 7.8% in 2020 to 2,044 thousand tonnes. Over the period from 2017 to 2020, production decreased by 6.6%, which translates to an average annual decline of 2.3%. The largest year-on-year increase occurred in 2018, when production rose by 0.9%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The value of sweet potato production in Latin America and the Caribbean increased for the second consecutive year. In 2020, output was valued at 1,735 million US dollars, marking a moderate 4.0% rise compared to 2019. From 2017 to 2020, production value grew by 6.5%, with an average annual growth rate of 2.1%. The lowest value was recorded in 2018 at 1,608 million US dollars, which also saw the largest decline of 1.3% during this period.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports sweet potatoe from Latin America and the Caribbean

Exports in kind, t

Sweet potato exports from Latin America and the Caribbean rebounded after a two-year decline. In 2020, exports totaled 37,291 tonnes, showing a slight increase of 1.8% compared to the previous year. Over the 2017-2020 period, exports decreased by 3.2%, with an average annual decline of 1.1%. The lowest export volume was in 2019 at 36,632 tonnes, while the largest drop occurred in 2018 with a 3.6% decrease.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, the Netherlands, and the United Kingdom consistently led as the top destinations for sweet potato exports from Latin America and the Caribbean in volume terms. The United States accounted for 31.0% of exports, followed by the Netherlands at 15.2%, and the United Kingdom at 10.7%. Together, these three countries represented 56.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

Cross-border shipments of sweet potatoes from Latin America and the Caribbean increased for the second year in a row. In 2020, export value reached 31,663 thousand US dollars, reflecting a strong 14.9% gain over 2019. Between 2017 and 2020, export value rose by 10.5%, with an average annual growth rate of 3.4%. The lowest value was recorded in 2018 at 27,008 thousand US dollars, which also experienced the largest decline of 5.8% during this timeframe.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

In the 2017-2020 period, the United States, the Netherlands, and the United Kingdom were the primary destinations for sweet potato exports from Latin America and the Caribbean in value terms. The United States held 33.4% of export value, the Netherlands accounted for 18.2%, and the United Kingdom made up 16.8%. Collectively, these three markets represented 68.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports sweet potatoe to Latin America and the Caribbean

Imports in kind, t

Sweet potato imports into Latin America and the Caribbean surged in 2020, reaching 5,123 tonnes—a dramatic 64.5% increase compared to the previous year. From 2017 to 2020, imports grew by 82.9%, with an average annual rise of 22.3%. The largest decline occurred in 2019, when imports fell by 26.0%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

Between 2017 and 2020, the United States consistently accounted for the largest share of sweet potato imports into Latin America and the Caribbean in volume terms, representing 3.3% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

In 2020, Latin America and the Caribbean imported sweet potatoes worth 6,524 thousand US dollars, marking an abrupt 48.9% increase from the prior year. Over the 2017-2020 period, import value rose by 68.6%, with an average annual growth rate of 19.0%. The largest decline was recorded in 2019, when imports dropped by 22.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the United States formed the largest share of sweet potato imports into Latin America and the Caribbean in value terms, accounting for 26.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020