Colombia: Modified Starches Market 2024

Modified Starches Market Size in Colombia

The Colombian modified starches market stood at $X in 2022, approximately equating the previous year. Over the period under review, consumption continues to indicate a pronounced descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Modified Starches Production in Colombia

In value terms, modified starches production expanded slightly to $X in 2022 estimated in export price. In general, production saw a noticeable curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 21%. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports from Colombia

In 2022, shipments abroad of dextrins and other modified starches increased by 34% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2017 when exports increased by 112%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, modified starches exports rose markedly to $X in 2022. Overall, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 58%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Free Zones (X tons), Ecuador (X tons) and the United States (X tons) were the main destinations of modified starches exports from Colombia, with a combined 84% share of total exports. El Salvador, Chile, Bolivia and Peru lagged somewhat behind, together accounting for a further 9.5%.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +86.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Free Zones ($X) and Ecuador ($X) were the largest markets for modified starches exported from Colombia worldwide, with a combined 71% share of total exports. El Salvador, Chile, Bolivia and Peru lagged somewhat behind, together accounting for a further 12%.

In terms of the main countries of destination, El Salvador, with a CAGR of +52.1%, 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

In 2022, the average modified starches export price amounted to $X per ton, reducing by -14.2% against the previous year. In general, the export price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 an increase of 27%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+0.2%), while the prices for the other major destinations experienced a decline.

Modified Starches Imports

Imports into Colombia

In 2022, imports of dextrins and other modified starches into Colombia declined to X tons, which is down by -10.7% compared with 2021. In general, imports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, modified starches imports dropped to $X in 2022. Overall, imports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest modified starches supplier to Colombia, accounting for a 67% share of total imports. Moreover, modified starches imports from the United States exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-5.7% per year) and the Netherlands (+4.2% per year).

In value terms, the United States ($X) constituted the largest supplier of dextrins and other modified starches to Colombia, comprising 67% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9.7% share of total imports. It was followed by Brazil, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.0% per year) and Brazil (-3.7% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2020 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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