Ecuador: Potato Starch Market 2024

Potato Starch Market Size in Ecuador

The Ecuadorian potato starch market surged to $X in 2021, jumping by 30% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.0% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Potato Starch Production in Ecuador

In value terms, potato starch production skyrocketed to $X in 2021 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Potato Starch Exports

Exports from Ecuador

Potato starch exports from Ecuador totaled X tons in 2021, approximately reflecting 2020 figures. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 187% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, potato starch exports reached $X in 2021. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 292% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for potato starch exports from Ecuador, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +36.5%.

In value terms, the United States ($X) also remains the key foreign market for potato starch exports from Ecuador.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +38.9%.

Export Prices by Country

In 2021, the average potato starch export price amounted to $X per ton, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2017 when the average export price increased by 37%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +1.8% per year.

Potato Starch Imports

Imports into Ecuador

In 2021, supplies from abroad of potato starch increased by 45% to X tons, rising for the second consecutive year after four years of decline. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +13.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 107% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, potato starch imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +10.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 87%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

Germany (X tons), Denmark (X tons) and the Netherlands (X tons) were the main suppliers of potato starch imports to Ecuador, with a combined 52% share of total imports. These countries were followed by Poland, Mexico, France and Belgium, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +65.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Denmark ($X) and the Netherlands ($X) were the largest potato starch suppliers to Ecuador, together comprising 54% of total imports. These countries were followed by Poland, Mexico, France and Belgium, which together accounted for a further 18%.

Mexico, with a CAGR of +56.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potato starch import price stood at $X per ton in 2021, reducing by -9% against the previous year. Overall, the import price showed a noticeable slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 21% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were France ($X per ton) and Denmark ($X per ton), while the price for Belgium ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :