Philippines: Potato Starch Market 2024

Potato Starch Market Size in the Philippines

The Philippine potato starch market contracted slightly to $X in 2021, which is down by -2.4% against the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 +7.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Potato Starch Production in the Philippines

In value terms, potato starch production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period 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 2016 with an increase of 21%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Potato Starch Exports

Exports from the Philippines

After two years of growth, shipments abroad of potato starch decreased by -94.3% to X tons in 2021. In general, exports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 2,020% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, potato starch exports contracted sharply to $X in 2021. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,949% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for potato starch exports from the Philippines, with a 82% share of total exports. Moreover, potato starch exports to Myanmar exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Myanmar stood at +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+3.6% per year) and Hong Kong SAR (-5.8% per year).

In value terms, Myanmar ($X) remains the key foreign market for potato starch exports from the Philippines, comprising 72% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 14% share of total exports. It was followed by Vietnam, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value to Myanmar totaled +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+16.4% per year) and Vietnam (-0.5% per year).

Export Prices by Country

In 2021, the average potato starch export price amounted to $X per ton, shrinking by -4.9% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 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 Hong Kong SAR ($X per ton), while the average price for exports to Cambodia ($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 Hong Kong SAR (+23.6%), while the prices for the other major destinations experienced mixed trend patterns.

Potato Starch Imports

Imports into the Philippines

In 2021, after two years of decline, there was significant growth in overseas purchases of potato starch, when their volume increased by 6.1% to X tons. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, potato starch imports shrank slightly to $X in 2021. Overall, imports posted a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 28% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Denmark (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of potato starch imports to the Philippines, together comprising 64% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +36.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch suppliers to the Philippines were Denmark ($X), the Netherlands ($X) and Germany ($X), together accounting for 65% of total imports. These countries were followed by France and Poland, which together accounted for a further 2.9%.

Poland, with a CAGR of +31.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, dropping by -7.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 21%. 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 Denmark ($X per ton) and Poland ($X per ton), while the price for France ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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