Latin America and the Caribbean: Potato Starch Market 2024

Potato Starch Market Size in Latin America and the Caribbean

The Latin American potato starch market totaled $X in 2021, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Potato Starch Production in Latin America and the Caribbean

In value terms, potato starch production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 13% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Potato Starch Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of potato starch decreased by -9.7% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 when exports increased by 532%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, potato starch exports stood at $X in 2021. Overall, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 369% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Brazil (X tons), distantly followed by Guatemala (X tons), Peru (X tons), Honduras (X tons), Ecuador (X tons) and Argentina (X tons) represented the major exporters of potato starch, together generating 94% of total exports. The Dominican Republic (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +70.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch supplying countries in Latin America and the Caribbean were Guatemala ($X), Brazil ($X) and Peru ($X), with a combined 69% share of total exports. Honduras, Ecuador, Argentina and the Dominican Republic lagged somewhat behind, together comprising a further 26%.

The Dominican Republic, with a CAGR of +71.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 12% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by 19%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Peru ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+1.8%), while the other leaders experienced more modest paces of growth.

Potato Starch Imports

Imports in Latin America and the Caribbean

In 2021, after two years of growth, there was significant decline in supplies from abroad of potato starch, when their volume decreased by -8.8% to X tons. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2020, and then shrank in the following year.

In value terms, potato starch imports reduced markedly to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 22% against the previous year. The level of import peaked at $X in 2020, and then contracted notably in the following year.

Imports by Country

Mexico (X tons) and Peru (X tons) represented the largest importers of potato starch in 2021, finishing at approx. 30% and 29% of total imports, respectively. Argentina (X tons) ranks next in terms of the total imports with a 7.9% share, followed by Colombia (6.2%). Costa Rica (X tons), Chile (X tons), the Dominican Republic (X tons), Brazil (X tons), Uruguay (X tons), Honduras (X tons), Ecuador (X tons) and Venezuela (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Dominican Republic (with a CAGR of +18.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch importing markets in Latin America and the Caribbean were Mexico ($X), Peru ($X) and Argentina ($X), with a combined 65% share of total imports. These countries were followed by Colombia, Costa Rica, Chile, the Dominican Republic, Honduras, Brazil, Uruguay, Ecuador and Venezuela, which together accounted for a further 28%.

In terms of the main importing countries, the Dominican Republic, with a CAGR of +19.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, reducing by -7.2% against the previous year. Over the period under review, the import price saw a mild decrease. The growth pace was the most rapid in 2019 when the import price increased by 15%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Chile ($X per ton) and the Dominican Republic ($X per ton), while Peru ($X per ton) and Uruguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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