Ecuador: Modified Starches Market 2024

Modified Starches Market Size in Ecuador

In 2022, after two years of growth, there was decline in the Ecuadorian modified starches market, when its value decreased by -0.5% to $X. Over the period under review, consumption saw a mild downturn. Modified starches consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Modified Starches Production in Ecuador

In value terms, modified starches production reached $X in 2022 estimated in export price. Overall, production, however, saw a mild slump. The pace of growth appeared the most rapid in 2018 with an increase of 40%. Modified starches production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from Ecuador

In 2022, exports of dextrins and other modified starches from Ecuador rose slightly to X tons, surging by 4.7% on the previous year. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 2,109%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, modified starches exports declined slightly to $X in 2022. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 2,668%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell modestly in the following year.

Exports by Country

Venezuela (X tons) was the main destination for modified starches exports from Ecuador, with a 67% share of total exports. Moreover, modified starches exports to Venezuela exceeded the volume sent to the second major destination, Peru (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela stood at +45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+37.2% per year) and Colombia (+30.0% per year).

In value terms, Peru ($X) remains the key foreign market for dextrins and other modified starches exports from Ecuador, comprising 65% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Peru totaled +65.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+25.7% per year) and Colombia (+51.7% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, which is down by -5.2% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, modified starches export price increased by +5.2% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 58%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Venezuela ($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 Costa Rica (+36.6%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Ecuador

After two years of growth, supplies from abroad of dextrins and other modified starches decreased by -17.1% to X tons in 2022. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 52%. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, modified starches imports fell markedly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 74%. As a result, imports reached the peak of $X, and then plummeted in the following year.

Imports by Country

The United States (X tons), China (X tons) and Turkey (X tons) were the main suppliers of modified starches imports to Ecuador, with a combined 52% share of total imports. The Netherlands, Germany, Colombia and Peru lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +16.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of dextrins and other modified starches to Ecuador, comprising 32% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Turkey, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.0% per year) and Turkey (+11.0% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, waning by -5.1% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia ($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 (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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