Europe: Egyptian sweet potatoes are running out, prices are rising

Published 2024년 4월 16일

Tridge summary

In the European Union, Spain and Portugal are the primary sweet potato producers, accounting for 60% and 20-25% of the EU's production, respectively. However, Egypt has become a formidable competitor, producing over 500,000 tons and exporting 73,000 tons, matching the combined output of Spain and Portugal. The recent oversupply led to a temporary halt in picking, though this eventually led to depleted stocks and improved prices. The Netherlands, the UK, and France are the top importers of Egyptian sweet potatoes, favoring the Bellevue and Beauregard varieties. Spain's production is challenged by water scarcity, and French producers face competition from more affordable Egyptian imports. In Italy, sweet potatoes are available both in bulk and packaged, with Egyptian varieties being more competitively priced. Dutch traders have observed a market pickup, anticipating tight supplies until Egypt's next harvest.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the European Union, approximately 100,000 tons of sweet potatoes are grown each year, and 60 percent of this is produced in Spain. Portugal produces 20-25 thousand tons, so these two countries dominate the EU market. Egypt alone can export as much sweet potato as these two countries produce together. In Egypt, the sweet potato production area increased to a record size last year. Since 2022, more than 500,000 tons of this tuberous plant have been produced, of which 73,000 tons were exported most recently. After the 2023 harvest, there was an oversupply on the market, which is why many producers suspended the picking of sweet potatoes. Then in January stocks ran out and prices started to improve. The biggest buyers of Egyptian sweet potatoes were the Netherlands, the United Kingdom and France. The most popular varieties are still Bellevue and Beauregard, according to FreshPlaza's global market report. THE Egypt has only one serious competitor in the European region, Spain, but ...

Source: MezoHir