Peru: Potato Starch Market 2024

Potato Starch Market Size in Peru

In 2021, the Peruvian potato starch market decreased by -12.3% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Potato starch consumption peaked at $X in 2020, and then reduced in the following year.

Potato Starch Production in Peru

In value terms, potato starch production fell to $X in 2021 estimated in export price. Overall, production, however, posted a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 85% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Potato Starch Exports

Exports from Peru

In 2021, after two years of decline, there was significant growth in overseas shipments of potato starch, when their volume increased by 66% to X tons. Over the period under review, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 196% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, potato starch exports soared to $X in 2021. In general, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 with an increase of 128% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Chile (X tons) and Spain (X tons) were the main destinations of potato starch exports from Peru, together accounting for 94% of total exports. The Netherlands and Belgium lagged somewhat behind, together accounting for a further 4.3%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +58.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for potato starch exported from Peru were the United States ($X), Spain ($X) and Chile ($X), together comprising 89% of total exports. The Netherlands and Belgium lagged somewhat behind, together accounting for a further 7.3%.

The Netherlands, with a CAGR of +31.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average potato starch export price stood at $X per ton in 2021, waning by -26.1% against the previous year. In general, the export price saw a perceptible decline. The growth pace was the most rapid in 2014 an increase of 19%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.2%), while the prices for the other major destinations experienced a decline.

Potato Starch Imports

Imports into Peru

After two years of growth, supplies from abroad of potato starch decreased by -1.2% to X tons in 2021. Overall, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 85%. Imports peaked at X tons in 2020, and then fell modestly in the following year.

In value terms, potato starch imports declined sharply to $X in 2021. In general, imports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2019 with an increase of 138%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), Denmark (X tons) and the Netherlands (X tons) were the main suppliers of potato starch imports to Peru, together comprising 85% of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +43.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Denmark ($X) and the Netherlands ($X) constituted the largest potato starch suppliers to Peru, with a combined 84% share of total imports.

In terms of the main suppliers, Denmark, with a CAGR of +41.3%, recorded the highest growth rate of 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

In 2021, the average potato starch import price amounted to $X per ton, which is down by -15.2% against the previous year. In general, the import price showed a perceptible decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 28%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Poland ($X per ton), while the price for Denmark ($X per ton) and Austria ($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 Netherlands (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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