China: Wheat Starch Market 2024

Wheat Starch Market Size in China

In 2021, the Chinese wheat starch market decreased by -4.4% to $X for the first time since 2016, thus ending a four-year rising trend. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.9% against 2012 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Wheat Starch Production in China

In value terms, wheat starch production declined slightly to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.2% against 2012 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 26%. Wheat starch production peaked at $X in 2020, and then dropped slightly in the following year.

Wheat Starch Exports

Exports from China

Wheat starch exports from China shrank dramatically to X tons in 2021, with a decrease of -19.5% compared with the previous year's figure. Over the period under review, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 45% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, wheat starch exports fell modestly to $X in 2021. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 35%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of wheat starch exports from China, with a combined 39% share of total exports. These countries were followed by the Philippines, Singapore, Indonesia, Canada, Cambodia, France and Vietnam, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of +253.6%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United States ($X) and Thailand ($X) appeared to be the largest markets for wheat starch exported from China worldwide, together accounting for 39% of total exports. These countries were followed by the Philippines, Singapore, Indonesia, Canada, Cambodia, France and Vietnam, which together accounted for a further 35%.

Among the main countries of destination, Cambodia, with a CAGR of +275.0%, recorded the highest rates of growth with regard to 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 wheat starch export price stood at $X per ton in 2021, surging by 22% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2017 when the average export price increased by 36% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were France ($X per ton) and Canada ($X per ton), while the average price for exports to Cambodia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Starch Imports

Imports into China

Wheat starch imports into China soared to X tons in 2021, jumping by 240% against 2020. Overall, imports continue to indicate significant growth. The growth pace was the most rapid in 2019 when imports increased by 257% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, wheat starch imports skyrocketed to $X in 2021. Over the period under review, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Australia (X tons) was the main wheat starch supplier to China, accounting for a 91% share of total imports. Moreover, wheat starch imports from Australia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was held by Hungary (X tons), with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from Australia amounted to +53.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+15.6% per year) and Hungary (0.0% per year).

In value terms, Australia ($X) constituted the largest supplier of wheat starch to China, comprising 90% of total imports. The second position in the ranking was taken by Belgium ($X), with a 6.1% share of total imports. It was followed by Hungary, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from Australia stood at +48.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+14.2% per year) and Hungary (0.0% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, growing by 2.7% against the previous year. Overall, the import price, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 22%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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