Singapore: Potato Starch Market 2024

Potato Starch Market Size in Singapore

The Singaporean potato starch market was estimated at $X in 2021, picking up by 8.2% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Potato Starch Production in Singapore

In value terms, potato starch production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.9% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 45%. Potato starch production peaked at $X in 2020, and then shrank in the following year.

Potato Starch Exports

Exports from Singapore

In 2021, shipments abroad of potato starch increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 79% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, potato starch exports expanded significantly to $X in 2021. Overall, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 75% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for potato starch exports from Singapore, with a 67% share of total exports. Moreover, potato starch exports to Malaysia exceeded the volume sent to the second major destination, Brunei Darussalam (X tons), sixfold. The Philippines (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+17.7% per year) and the Philippines (+28.7% per year).

In value terms, Malaysia ($X) remains the key foreign market for potato starch exports from Singapore, comprising 63% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 14% share of total exports. It was followed by Brunei Darussalam, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia totaled -10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+26.7% per year) and Brunei Darussalam (+18.0% per year).

Export Prices by Country

The average potato starch export price stood at $X per ton in 2021, leveling off at the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 11%. The export price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Canada ($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 Kuwait (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Starch Imports

Imports into Singapore

After three years of decline, overseas purchases of potato starch increased by 28% to X tons in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, potato starch imports surged to $X in 2021. Overall, imports, however, saw a noticeable downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of potato starch to Singapore, with a 45% share of total imports. Moreover, potato starch imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was held by France (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+27.1% per year) and France (+5.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of potato starch to Singapore, comprising 51% of total imports. The second position in the ranking was taken by France ($X), with a 12% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands stood at -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.1% per year) and Poland (+25.5% per year).

Import Prices by Country

The average potato starch import price stood at $X per ton in 2021, waning by -6.7% against the previous year. Over the period under review, the import price saw a mild decline. The pace of growth was the most pronounced in 2019 an increase of 14%. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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