ASEAN: Wheat Starch Market 2024

Wheat Starch Market Size in ASEAN

The ASEAN wheat starch market contracted to $X in 2021, which is down by -2.3% against the previous year. Over the period under review, consumption, however, showed a resilient increase. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Wheat Starch Production in ASEAN

In value terms, wheat starch production contracted to $X in 2021 estimated in export price. Overall, production, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 33%. The level of production peaked at $X in 2020, and then reduced modestly in the following year.

Wheat Starch Exports

Exports in ASEAN

In 2021, overseas shipments of wheat starch decreased by -21.2% to X tons, falling for the third year in a row after two years of growth. Overall, exports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 159% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, wheat starch exports fell to $X in 2021. In general, exports saw a slight descent. The growth pace was the most rapid in 2018 when exports increased by 219% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Singapore dominates exports structure, amounting to X tons, which was near 90% of total exports in 2021. It was distantly followed by Vietnam (X tons), generating an 8.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wheat starch exports from Singapore stood at -2.4%. At the same time, Vietnam (+30.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +30.2% from 2012-2021. From 2012 to 2021, the share of Vietnam and Singapore increased by +7.6 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest wheat starch supplier in ASEAN, comprising 86% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore was relatively modest.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, surging by 9.6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 23%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Singapore amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.9%).

Wheat Starch Imports

Imports in ASEAN

In 2021, overseas purchases of wheat starch decreased by -20.6% to X tons, falling for the third consecutive year after four years of growth. Overall, imports, however, saw mild growth. The most prominent rate of growth was recorded in 2018 when imports increased by 94%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, wheat starch imports shrank remarkably to $X in 2021. In general, imports, however, recorded notable growth. The most prominent rate of growth was recorded in 2018 with an increase of 122%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of wheat starch, namely Singapore, Indonesia, Thailand and Malaysia, represented more than two-thirds of total import. It was distantly followed by the Philippines (X tons) and Vietnam (X tons), together committing a 14% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +11.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch importing markets in ASEAN were Singapore ($X), Indonesia ($X) and Thailand ($X), together comprising 69% of total imports. These countries were followed by Malaysia, the Philippines and Vietnam, which together accounted for a further 29%.

The Philippines, with a CAGR of +14.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, picking up by 6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 when the import price increased by 14%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and the Philippines ($X per ton), while Indonesia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform