Sweet potatoe market in Vietnam

Earlier Report Observations

Sweet potato production in Vietnam increased to 1 432 thousand tons in 2019, with the market value rising to $2.0 billion. However, volumes and value fell over the next two years, reaching 1 231 thousand tons and $1.5 billion by 2021.

The decline continued through 2022 and 2023, with production dropping to 976 thousand tons and then 915 thousand tons. During this period, Vietnam signed a phytosanitary protocol in November 2022 allowing fresh sweet potato exports to China, creating a new export channel. Concurrently, several regions reported reduced planting areas due to export market constraints and unstable prices, leading farmers to switch to other crops.

By 2024, a sharp price decrease was driven by expanded cultivation and simultaneous harvests. The government announced plans to boost cold storage infrastructure to support agricultural preservation, while new entrants like Nam Tinh Vegetable launched premium packaged products meeting VietGAP and ISO standards for the export market.

Production sweet potatoe in Vietnam

In kind, 2017-2020, K t

Vietnam ranked 10th globally in sweet potato production from 2017 to 2020.

Top producers of sweet potatoe, 2017-2020

World map of production of sweet potatoe, 2017-2020

After two years of growth, sweet potato production in Vietnam declined. In 2019, production reached its peak at 1 432 K t, with the largest annual increase of 4.2%. However, by 2020, production fell to 1 378 K t, marking a moderate decrease of 3.8% compared to the previous year.

Annual dynamics of production in Vietnam in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following a two-year rise, Vietnam's sweet potato production value declined. In 2019, it peaked at 2 084 M $ US, with the largest annual increase of 33.0%. By 2020, the value dropped to 1 692 M $ US, a significant decrease of 18.8% year-over-year. Overall, from 2017 to 2020, production value increased by 14.8%, equivalent to an annualized growth rate of 4.7%.

Annual dynamics of production in Vietnam in value, 2017-2020, M $ US

Exports sweet potatoe from Vietnam

Exports in kind, t

The market showed volatility during this period. In 2019, sweet potato exports from Vietnam hit a low of 28 890 t, with the largest annual decline of 47.2%. By 2020, exports rebounded to 50 160 t, a substantial increase of 73.6% year-over-year. From the high in 2017 to the low in 2019, export volumes varied by 2.7 times.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, t

From 2017 to 2020, the main destinations for Vietnam's sweet potato exports in kind were China, accounting for 48.2% of exports, Japan with 15.8%, and Thailand at 12.8%. Together, these three countries represented 76.7% of total export flows.

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

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, K $ US

After a two-year decline, Vietnam's sweet potato export value increased. In 2019, it reached a low of 42 039 K $ US, with the largest annual decrease of 32.6%. By 2020, exports rose to 61 586 K $ US, up 46.5% compared to the previous year. Over the 2017-2020 period, export value decreased by 28.1%, with a compound annual growth rate of -10.4%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, the largest buyers of Vietnam's sweet potato in value terms were China, with 45.9% of exports, Japan at 16.3%, and Thailand with 13.3%. Combined, these three countries accounted for 75.6% of total export value.

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

World map of product's exports from Vietnam in value, 2017-2020

Imports sweet potatoe to Vietnam

Imports in kind, t

Market performance exhibited noticeable fluctuations during this period. In 2018, sweet potato imports into Vietnam peaked at 600 t, with the largest annual increase of 423.3%. By 2020, imports fell to a low of 27 t, a sharp drop of 81.7% compared to 2019. From the peak in 2018 to the trough in 2020, imports changed by 23 times.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, t

Throughout 2017 to 2020, Laos and China were the primary sources for sweet potato imports into Vietnam in kind, with other markets playing a less significant role individually.

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

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, K $ US

Market performance showed noticeable fluctuations during this period. In 2018, sweet potato imports into Vietnam reached a high of 687 K $ US, with the largest annual increase of 452.9%. By 2020, imports declined to 31 K $ US, a contraction of 83.6% from the previous year. From the peak in 2018 to the trough in 2020, imports changed by 22 times.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, Laos, with 45.3% of total imports, and China, at 43.7%, together accounted for 89.0% of Vietnam's sweet potato import value, while other partners made up the remainder.

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

World map of product's imports to Vietnam in value, 2017-2020