Hungary: Wheat Starch Market 2024

Wheat Starch Market Size in Hungary

In 2021, after five years of growth, there was significant decline in the Hungarian wheat starch market, when its value decreased by -55.4% to $X. Overall, consumption saw a slight downturn. Over the period under review, the market attained the peak level at $X in 2020, and then declined significantly in the following year.

Wheat Starch Production in Hungary

In value terms, wheat starch production dropped significantly to $X in 2021 estimated in export price. In general, production, however, posted a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 64%. As a result, production attained the peak level of $X, and then reduced rapidly in the following year.

Wheat Starch Exports

Exports from Hungary

In 2021, shipments abroad of wheat starch increased by 108% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 57,471%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, wheat starch exports surged to $X in 2021. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 36,030%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Poland (X tons), the Netherlands (X tons) and South Korea (X tons) were the main destinations of wheat starch exports from Hungary, together accounting for 38% of total exports. Finland, Austria, Germany, Serbia, Greece, the Philippines, Bulgaria, Italy, Malaysia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +14,852.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheat starch exported from Hungary were Serbia ($X), Poland ($X) and Finland ($X), together accounting for 45% of total exports. Germany, Austria, South Korea, the Netherlands, Greece, the Philippines, Italy, Bulgaria, Malaysia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 45%.

Among the main countries of destination, Taiwan (Chinese), with a CAGR of +11,164.5%, saw the highest growth rate of 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 2021, the average wheat starch export price amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2013 an increase of 145% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+16.2%), while the prices for the other major destinations experienced a decline.

Wheat Starch Imports

Imports into Hungary

In 2021, purchases abroad of wheat starch increased by 0.8% to X tons, rising for the third year in a row after two years of decline. Overall, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 29% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, wheat starch imports expanded slightly to $X in 2021. Over the period under review, imports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2013 when imports increased by 30% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of wheat starch to Hungary, accounting for a 49% share of total imports. Moreover, wheat starch imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to -14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+58.5% per year) and the Czech Republic (+79.5% per year).

In value terms, Germany ($X) constituted the largest supplier of wheat starch to Hungary, comprising 56% of total imports. The second position in the ranking was taken by Austria ($X), with a 15% share of total imports. It was followed by the Czech Republic, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+34.8% per year) and the Czech Republic (+71.8% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, showed a mild decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 9.7%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, 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 France ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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