Paraguay: Modified Starches Market 2024

Modified Starches Market Size in Paraguay

In 2022, the Paraguayan modified starches market increased by 24% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +114.7% against 2020 indices. Modified starches consumption peaked in 2022 and is expected to retain growth in years to come.

Modified Starches Production in Paraguay

In value terms, modified starches production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of 5.2%. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from Paraguay

Modified starches exports from Paraguay dropped dramatically to X tons in 2022, waning by -45% on the year before. Overall, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 472% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, modified starches exports reduced dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 486%. The exports peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Chile (X tons) was the main destination for modified starches exports from Paraguay, accounting for a 74% share of total exports. Moreover, modified starches exports to Chile exceeded the volume sent to the second major destination, Ecuador (X tons), sixfold. The third position in this ranking was taken by Argentina (X tons), with a 9.5% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Chile stood at +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+36.6% per year) and Argentina (+59.6% per year).

In value terms, Chile ($X) remains the key foreign market for dextrins and other modified starches exports from Paraguay, comprising 70% of total exports. The second position in the ranking was held by Ecuador ($X), with a 14% share of total exports. It was followed by Argentina, with an 11% share.

From 2013 to 2022, the average annual growth rate of value to Chile stood at +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+43.8% per year) and Argentina (+65.2% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, picking up by 46% against the previous year. In general, export price indicated a noticeable expansion from 2013 to 2022: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, modified starches export price increased by +78.0% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Argentina ($X per ton) and Spain ($X per ton), while the average price for exports to Chile ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Paraguay

In 2022, approx. X tons of dextrins and other modified starches were imported into Paraguay; growing by 44% on 2021. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 946% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, modified starches imports soared to $X in 2022. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 626%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) was the main modified starches supplier to Paraguay, with a 96% share of total imports. Moreover, modified starches imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +56.6%.

In value terms, Brazil ($X) constituted the largest supplier of dextrins and other modified starches to Paraguay, comprising 94% of total imports. The second position in the ranking was held by Argentina ($X), with a 3.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled +46.4%.

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, jumping by 19% against the previous year. Over the period under review, the import price, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 66% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Argentina stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-0.2%).

Source: IndexBox Platform