Portugal: Wheat Starch Market 2024

Wheat Starch Market Size in Portugal

In 2021, the Portuguese wheat starch market was finally on the rise to reach $X after two years of decline. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Wheat Starch Production in Portugal

In value terms, wheat starch production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 51% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Wheat Starch Exports

Exports from Portugal

In 2021, shipments abroad of wheat starch decreased by -3% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 122% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, wheat starch exports totaled $X in 2021. Over the period under review, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 174% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kenya (X tons), Spain (X tons) and France (X tons) were the main destinations of wheat starch exports from Portugal, together comprising 70% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of +77.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wheat starch exported from Portugal were Spain ($X), Kenya ($X) and Angola ($X), together accounting for 65% of total exports.

Kenya, with a CAGR of +96.9%, saw the highest rates of growth with regard to the value of exports, in terms of 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 wheat starch export price stood at $X per ton in 2021, picking up by 5.1% against the previous year. Over the period under review, the export price, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 23%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Kenya ($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 Mozambique (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wheat Starch Imports

Imports into Portugal

In 2021, purchases abroad of wheat starch increased by 9.7% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a slight decrease. The pace of growth was the most pronounced in 2014 when imports increased by 37% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, wheat starch imports rose significantly to $X in 2021. Over the period under review, imports, however, recorded a pronounced reduction. The growth pace was the most rapid in 2014 when imports increased by 25%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest wheat starch supplier to Portugal, with a 68% share of total imports. Moreover, wheat starch imports from Spain exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.7% per year) and the Netherlands (-20.8% per year).

In value terms, Spain ($X) constituted the largest supplier of wheat starch to Portugal, comprising 69% of total imports. The second position in the ranking was taken by Belgium ($X), with a 26% share of total imports. It was followed by the Netherlands, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.5% per year) and the Netherlands (-22.6% per year).

Import Prices by Country

In 2021, the average wheat starch import price amounted to $X per ton, increasing by 4.4% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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