Peru: Wheat Starch Market 2024

Wheat Starch Market Size in Peru

In 2021, the Peruvian wheat starch market decreased by -7.2% to $X for the first time since 2014, thus ending a six-year rising trend. Overall, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.7% against 2014 indices. Wheat starch consumption peaked at $X in 2020, and then fell in the following year.

Wheat Starch Production in Peru

In value terms, wheat starch production contracted to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Wheat Starch Exports

Exports from Peru

In 2021, shipments abroad of wheat starch decreased by 0% to X kg, falling for the second consecutive year after two years of decline. In general, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2014 when exports increased by 644% against the previous year. As a result, the exports reached the peak of X kg. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, wheat starch exports stood at $X in 2021. Overall, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 2.1%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X kg) was the main destination for wheat starch exports from Peru, accounting for a 85% share of total exports. Moreover, wheat starch exports to Kuwait exceeded the volume sent to the second major destination, Switzerland (X kg), sixfold.

From 2013 to 2021, the average annual growth rate of volume to Kuwait was relatively modest.

From 2013 to 2021, the average annual growth rate of value to Kuwait was relatively modest.

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 1,192% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Switzerland totaled $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+1,133.3%).

Wheat Starch Imports

Imports into Peru

In 2021, overseas purchases of wheat starch decreased by -49.9% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 121% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, wheat starch imports contracted markedly to $X in 2021. In general, imports continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 127%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest supplier of wheat starch to Peru, accounting for a 71% share of total imports. Moreover, wheat starch imports from Argentina exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by France (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Argentina stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.0% per year) and France (+3.9% per year).

In value terms, Argentina ($X) constituted the largest supplier of wheat starch to Peru, comprising 71% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by France, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Argentina stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.2% per year) and France (-0.9% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2013 when the average import price increased by 11%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Germany ($X per ton) and Belgium ($X per ton), while the price for France ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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