U.S.: Potato Market 2024

Potato Market Size in the U.S.

The U.S. potato market reduced modestly to $X in 2023, waning by X% against the previous year. In general, consumption continues to indicate a slight slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.

Potato Production in the U.S.

In value terms, potato production declined to $X in 2023. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2023, production growth remained at a somewhat lower figure.

The average yield of potatoes in the United States amounted to X tons per ha in 2023, standing approx. at the previous year. Overall, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the average potato yield attained the maximum level at X tons per ha in 2020; however, from 2021 to 2023, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. X ha of potatoes were harvested in the United States; rising by X% compared with the year before. In general, the harvested area, however, continues to indicate a noticeable contraction. Over the period under review, the harvested area dedicated to potato production reached the peak figure at X ha in 2012; however, from 2013 to 2023, the harvested area failed to regain momentum.

Potato Exports

Exports from the U.S.

In 2023, the amount of potatoes exported from the United States stood at X tons, surging by X% on the year before. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, potato exports rose rapidly to $X in 2023. In general, total exports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in years to come.

Exports by Country

Canada (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of potato exports from the United States, together accounting for X% of total exports. Taiwan (Chinese), South Korea, Honduras, the Philippines and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Honduras (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and South Korea ($X) appeared to be the largest markets for potato exported from the United States worldwide, with a combined X% share of total exports. Japan, Honduras, Taiwan (Chinese), the Philippines and Malaysia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Honduras, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potato export price stood at $X per ton in 2023, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Imports

Imports into the U.S.

In 2023, the amount of potatoes imported into the United States declined remarkably to X tons, reducing by X% compared with 2022 figures. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, potato imports dropped dramatically to $X in 2023. Over the period under review, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then reduced markedly in the following year.

Imports by Country

In 2023, Canada (X tons) was the main potato supplier to the United States, with a approx. X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of volume from Canada totaled X%.

In value terms, Canada ($X) constituted the largest supplier of potatoes to the United States.

From 2012 to 2023, the average annual rate of growth in terms of value from Canada stood at X%.

Import Prices by Country

In 2023, the average potato import price amounted to $X per ton, falling by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2022, and then fell in the following year.

As there is only one major supplying country, the average price level is determined by prices for Canada.

From 2012 to 2023, the rate of growth in terms of prices for Canada amounted to X% per year.

Source: IndexBox Platform