Indonesia: Wheat Starch Market 2024

Wheat Starch Market Size in Indonesia

In 2021, the Indonesian wheat starch market decreased by -3% to $X, falling for the third consecutive year after four years of growth. In general, consumption, however, showed a resilient increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Wheat Starch Production in Indonesia

In value terms, wheat starch production reached $X in 2021 estimated in export price. In general, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 69% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Wheat Starch Exports

Exports from Indonesia

In 2021, overseas shipments of wheat starch decreased by -70.7% to X tons, falling for the third year in a row after four years of growth. Over the period under review, exports showed a dramatic decline. The growth pace was the most rapid in 2018 with an increase of 67%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, wheat starch exports fell sharply to $X in 2021. In general, exports saw a sharp shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 134% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), South Korea (X kg) and Hong Kong SAR (X kg) were the main destinations of wheat starch exports from Indonesia, together accounting for 96% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +37.1%), while the other leaders experienced a decline.

In value terms, the largest markets for wheat starch exported from Indonesia were Malaysia ($X), Hong Kong SAR ($X) and South Korea ($X), together comprising 95% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +23.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, increasing by 33% against the previous year. In general, the export price showed a strong expansion. The growth pace was the most rapid in 2018 an increase of 40% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Singapore ($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 Malaysia (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.

Wheat Starch Imports

Imports into Indonesia

In 2021, supplies from abroad of wheat starch decreased by -46.8% to X tons, falling for the third year in a row after four years of growth. In general, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by 151%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, wheat starch imports fell remarkably to $X in 2021. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 212%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) constituted the largest supplier of wheat starch to Indonesia, with a 62% share of total imports. Moreover, wheat starch imports from Australia exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold. The third position in this ranking was taken by Japan (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia stood at +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+30.9% per year) and Japan (+13.3% per year).

In value terms, Australia ($X) constituted the largest supplier of wheat starch to Indonesia, comprising 63% of total imports. The second position in the ranking was taken by Argentina ($X), with a 9.4% share of total imports. It was followed by Japan, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+33.1% per year) and Japan (+17.1% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, picking up by 4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2013 an increase of 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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