MERCOSUR: Potato Starch Market 2024

Potato Starch Market Size in MERCOSUR

The MERCOSUR potato starch market rose modestly to $X in 2021, surging by 3.6% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the market value increased by 8.4%. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Potato Starch Production in MERCOSUR

In value terms, potato starch production expanded slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period 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 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Potato Starch Exports

Exports in MERCOSUR

In 2021, after five years of growth, there was significant decline in overseas shipments of potato starch, when their volume decreased by -39.2% to X tons. In general, exports continue to indicate a pronounced slump. The growth pace was the most rapid in 2020 with an increase of 165% against the previous year. As a result, the exports attained the peak of X tons, and then shrank notably in the following year.

In value terms, potato starch exports fell sharply to $X in 2021. Overall, exports saw a pronounced contraction. The growth pace was the most rapid in 2020 with an increase of 80% against the previous year. As a result, the exports reached the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Brazil represented the major exporting country with an export of around X tons, which recorded 58% of total exports. Peru (X tons) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Ecuador (15%) and Argentina (8%).

From 2012 to 2021, average annual rates of growth with regard to potato starch exports from Brazil stood at -8.6%. At the same time, Ecuador (+36.5%), Peru (+14.5%) and Argentina (+3.3%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +36.5% from 2012-2021. From 2012 to 2021, the share of Peru, Ecuador and Argentina increased by +15, +14 and +3.8 percentage points, respectively.

In value terms, Brazil ($X), Peru ($X) and Ecuador ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 90% of total exports.

Ecuador, with a CAGR of +38.9%, saw the highest growth rate of the value of exports, in terms of 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 MERCOSUR stood at $X per ton in 2021, increasing by 12% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 85% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 mixed trends in the export price figures.

Potato Starch Imports

Imports in MERCOSUR

Potato starch imports surged to X tons in 2021, picking up by 16% compared with 2020 figures. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 20%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, potato starch imports declined slightly to $X in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 40%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Peru was the major importing country with an import of around X tons, which recorded 52% of total imports. It was distantly followed by Argentina (X tons), Colombia (X tons), Chile (X tons), Brazil (X tons) and Uruguay (X tons), together achieving a 40% share of total imports. Ecuador (X tons) followed a long way behind the leaders.

Imports into Peru increased at an average annual rate of +1.0% from 2012 to 2021. At the same time, Ecuador (+13.5%), Chile (+7.0%), Colombia (+6.7%), Uruguay (+5.1%), Argentina (+4.8%) and Brazil (+2.7%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +13.5% from 2012-2021. While the share of Colombia (+3.2 p.p.), Ecuador (+2.4 p.p.), Argentina (+2.3 p.p.) and Chile (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Peru (-8.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) constitutes the largest market for imported potato starch in MERCOSUR, comprising 50% of total imports. The second position in the ranking was taken by Argentina ($X), with a 14% share of total imports. It was followed by Colombia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Peru amounted to -1.8%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+3.4% per year) and Colombia (+5.2% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, declining by -15% against the previous year. In general, the import price continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2019 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Chile ($X per ton) and Brazil ($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 Chile (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform