Brazil: Wheat Starch Market 2024

Wheat Starch Market Size in Brazil

In 2021, the Brazilian wheat starch market decreased by -4.7% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, saw a prominent increase. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

Wheat Starch Production in Brazil

In value terms, wheat starch production shrank to $X in 2021 estimated in export price. Overall, production, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 37%. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Wheat Starch Exports

Exports from Brazil

In 2021, shipments abroad of wheat starch decreased by -80.3% to X kg, falling for the second consecutive year after two years of growth. Overall, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 760% against the previous year. As a result, the exports attained the peak of X kg. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, wheat starch exports reduced markedly to $X in 2021. Over the period under review, exports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 667% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

Liberia (X kg) was the main destination for wheat starch exports from Brazil, with a 71% share of total exports. Moreover, wheat starch exports to Liberia exceeded the volume sent to the second major destination, Panama (X kg), threefold.

From 2018 to 2021, the average annual growth rate of volume to Liberia totaled +25.0%.

In value terms, Liberia ($X) and Panama ($X) constituted the largest markets for wheat starch exported from Brazil worldwide.

Liberia, with a CAGR of -5.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, falling by -23.3% against the previous year. Over the period under review, export price indicated a notable increase from 2018 to 2021: its price increased at an average annual rate of +2.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wheat starch export price increased by +20.5% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 57% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped rapidly in the following year.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Liberia totaled $X per ton.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+39.3%), while the prices for the other major destinations experienced mixed trend patterns.

Wheat Starch Imports

Imports into Brazil

In 2021, supplies from abroad of wheat starch increased by 34% to X tons, rising for the third consecutive year after two years of decline. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 102%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, wheat starch imports soared to $X in 2021. Over the period under review, imports posted a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 110%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Argentina (X tons) constituted the largest wheat starch supplier to Brazil, with a 88% share of total imports. Moreover, wheat starch imports from Argentina exceeded the figures recorded by the second-largest supplier, Italy (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina totaled +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.7% per year) and the United States (+58.6% per year).

In value terms, Argentina ($X) constituted the largest supplier of wheat starch to Brazil, comprising 81% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Argentina stood at +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.1% per year) and the United States (+93.8% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, rising by 6.9% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 32%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+22.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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