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Roots and tubers - Q1 2020

Published on 9/04/2020 - Published by GERBAUD Pierre
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Quarterly Market Review

Informations

Product(s) : Eddoe , Ginger , Yam , Cassava , Sweet Potato , Roots & tubers
Rubrique / Thématique : Review and Forecasts
Country : Brazil , China , Costa rica , Egypt , Spain , United States , France , Ghana , Guatemala , Honduras , Israel , Peru , Portugal , Thailand
Keywords : Export , Import , Price , Production

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Sweet potato

The sweet potato market, after going through a prosperous period from May to September 2019, declined thereafter until the end of the year. Q1 2020 was fairly similar to the previous quarter. Steady shipments of white-fleshed sweet potatoes came from Egypt, Brazil and Honduras. The former two origins are traditional exporters of white-fleshed sweet potatoes. Conversely, Honduras was hitherto best known for its orange-fleshed sweet potatoes. Egypt, despite its apparently smaller presence this year, provided the basis of the supply, with prices for the origin remaining consistent (0.80 to 1.00 euro/kg) until late February. The reduction in the supply helped rates strengthen in March. Brazilian sweet potatoes underwent the reverse trend, with rates slumping in March, though they were higher than those of Egyptian produce. Honduras obtained the best prices, with a slight dip in late January.

Spain dominated the supply of orange-fleshed sweet potatoes, although production was leaner than in 2019. They sold steadily at between 1.20 and 1.30 euro/kg. In March, this origin began to wind down its campaign, and was replaced by the USA and Honduras, whose tubers sold at higher prices. Finally, Guatemala accompanied the Spanish campaign until late February, with slightly higher prices. This supply was topped up by Portugal and Israel, which obtained rates of 0.80-1.20 euro/kg and 1.20-1.40 euro/kg respectively, depending on the size and quality.

Yam

In Q1 2020 the yam was supplied by two main sources: France and Ghana, the traditional market supplier. French yams sold steadily at around 3.50 euros/kg, up slightly to 3.60 euros/kg in March because of decreasing volumes. The French campaign had a difficult start to the year, given the variable tuber quality and in particular limited shelf life. The produce came in two distinct forms: whole tubers and pieces. The second form sold at lower prices. Rates for Ghanaian yams dipped from late January, before stabilising at around 1.20 euro/kg. This downward trend should be compared with demand for the product, which declined as time went on.

Cassava

Costa Rican cassava saw a rise in its sale prices in February and until mid-March, going from 1.30 to 1.50 euro/kg. Rates then returned to their initial level. The price increase is attributable to a temporary reduction in volumes available. The subsequent price downturn can be explained by the fall in demand in the second half of March.

Eddoe

The market for Costa Rican eddoes was balanced throughout Q1 2020, with stable and steady prices. However, we can report a slight drop in prices from the previous quarter, of around 0.10 euro/kg.

Ginger

Already buoyant since November, the ginger market literally exploded in Q1 2020. The withdrawal of the Chinese supply, because of falling production and exports due to the COVID-19 pandemic, caused a big increase in prices, which reached levels rarely seen. Brazil, which was unable to supply large volumes, shipped products by air-freight from late February, which also contributed to the price increases. At the end of the period, the supply was topped up by some batches from Thailand and Peru, with roots selling on the same price footing as competing produce. The fall in volumes was definitely not the only explanation for this surge in prices. The invigorating virtues attributed to this condiment, by reports in the media, probably brought about renewed demand.