MENA: Wheat Starch Market 2024

Wheat Starch Market Size in MENA

After three years of growth, the MENA's wheat starch market decreased by -7.9% to $X in 2021. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.2% against 2012 indices. As a result, consumption reached the peak level of $X, and then declined in the following year.

Wheat Starch Production in MENA

In value terms, wheat starch production shrank to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 increased by +65.0% against 2012 indices. The pace of growth was the most pronounced in 2015 with an increase of 18% against the previous year. The level of production peaked at $X in 2020, and then declined in the following year.

Wheat Starch Exports

Exports in MENA

In 2021, the amount of wheat starch exported in MENA skyrocketed to X tons, growing by 25% against the previous year's figure. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 160%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, wheat starch exports rose significantly to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 58%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Iran dominates exports structure, amounting to X tons, which was approx. 90% of total exports in 2021. The following exporters - Turkey (X tons) and the United Arab Emirates (X tons) - each resulted at a 6% share of total exports.

Iran was also the fastest-growing in terms of the wheat starch exports, with a CAGR of +39.2% from 2012 to 2021. At the same time, Turkey (+8.3%) displayed positive paces of growth. By contrast, the United Arab Emirates (-1.6%) illustrated a downward trend over the same period. While the share of Iran (+82 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) remains the largest wheat starch supplier in MENA, comprising 62% of total exports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Iran stood at +31.6%. In the other countries, the average annual rates were as follows: Turkey (+6.2% per year) and the United Arab Emirates (+1.1% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, with a decrease of -8.6% against the previous year. In general, the export price showed a deep setback. The pace of growth appeared the most rapid in 2014 an increase of 19% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.8%), while the other leaders experienced a decline in the export price figures.

Wheat Starch Imports

Imports in MENA

In 2021, wheat starch imports in MENA shrank to X tons, which is down by -10.7% compared with the year before. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 25% against the previous year. The volume of import peaked at X tons in 2020, and then contracted in the following year.

In value terms, wheat starch imports dropped sharply to $X in 2021. Overall, imports showed a slight decrease. The pace of growth was the most pronounced in 2017 when imports increased by 25% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey prevails in imports structure, resulting at X tons, which was near 82% of total imports in 2021. It was distantly followed by Lebanon (X tons), achieving a 4.9% share of total imports. Egypt (X tons), the United Arab Emirates (X tons), Israel (X tons) and Oman (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Oman (+39.2%), Lebanon (+6.9%), Egypt (+1.7%) and Israel (+1.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in MENA, with a CAGR of +39.2% from 2012-2021. By contrast, the United Arab Emirates (-10.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +22 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported wheat starch in MENA, comprising 70% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.1% share of total imports. It was followed by Lebanon, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value in Turkey was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-3.3% per year) and Lebanon (+2.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, dropping by -7.8% against the previous year. Overall, the import price recorded a noticeable curtailment. The pace of growth was the most pronounced in 2016 an increase of 1.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform