Middle East: Wheat Starch Market 2024

Wheat Starch Market Size in the Middle East

In 2021, after three years of growth, there was significant decline in the Middle Eastern wheat starch market, when its value decreased by -7.4% to $X. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +83.0% against 2012 indices. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Wheat Starch Production in the Middle East

In value terms, wheat starch production shrank to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +91.7% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 26% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Wheat Starch Exports

Exports in the Middle East

In 2021, exports of wheat starch in the Middle East surged to X tons, growing by 46% against the previous year's figure. In general, exports recorded significant growth. The growth pace was the most rapid in 2018 with an increase of 593%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, wheat starch exports surged to $X in 2021. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 299% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Iran prevails in exports structure, recording X tons, which was approx. 91% of total exports in 2021. The following exporters - Turkey (X tons) and the United Arab Emirates (X tons) - each finished at a 6.1% 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. From 2012 to 2021, the share of Iran increased by +50 percentage points.

In value terms, Iran ($X) remains the largest wheat starch supplier in the Middle East, comprising 64% of total exports. The second position in the ranking was held by Turkey ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Iran totaled +31.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+6.2% per year) and the United Arab Emirates (+1.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, which is down by -5.4% against the previous year. Overall, the export price recorded a abrupt descent. The growth pace was the most rapid in 2015 an increase of 3.6%. The level of export peaked at $X per ton in 2012; however, from 2013 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 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 the Middle East

Wheat starch imports fell to X tons in 2021, which is down by -10.3% on the previous year's figure. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then dropped in the following year.

In value terms, wheat starch imports contracted markedly to $X in 2021. Overall, imports continue to indicate a slight setback. The pace of growth was the most pronounced in 2017 when imports increased by 23% 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 dominates imports structure, finishing at X tons, which was near 86% of total imports in 2021. It was distantly followed by Lebanon (X tons), creating a 5.2% share of total imports. The following importers - the United Arab Emirates (X tons), Israel (X tons) and Oman (X tons) - together made up 6.4% of total imports.

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%) and Israel (+1.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, 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. While the share of Turkey (+20 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-8.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported wheat starch in the Middle East, comprising 75% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.5% share of total imports. It was followed by Lebanon, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms 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 the Middle East stood at $X per ton in 2021, shrinking by -9.4% against the previous year. In general, the import price showed a perceptible setback. The pace of growth was the most pronounced in 2016 when the import price increased by 2.9%. 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

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