South Africa: Wheat Starch Market 2024

Wheat Starch Market Size in South Africa

After three years of growth, the South African wheat starch market decreased by -7.1% to $X in 2021. Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 +58.4% against 2012 indices. Wheat starch consumption peaked at $X in 2020, and then shrank in the following year.

Wheat Starch Production in South Africa

In value terms, wheat starch production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 18%. Wheat starch production peaked at $X in 2020, and then reduced in the following year.

Wheat Starch Exports

Exports from South Africa

In 2021, overseas shipments of wheat starch were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a abrupt slump. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, wheat starch exports expanded significantly to $X in 2021. Over the period under review, exports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of 22% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Namibia (X tons), Zimbabwe (X tons) and Lesotho (X tons) were the main destinations of wheat starch exports from South Africa, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Zimbabwe (with a CAGR of +84.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Zimbabwe ($X), Namibia ($X) and Lesotho ($X) appeared to be the largest markets for wheat starch exported from South Africa worldwide, with a combined 77% share of total exports. These countries were followed by Swaziland, Malawi, Botswana and Zambia, which together accounted for a further 23%.

Malawi, with a CAGR of +77.4%, saw 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 mixed trend patterns.

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, dropping by -16.4% against the previous year. Over the period under review, the export price showed a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 40% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Botswana ($X per ton), while the average price for exports to Namibia ($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 Swaziland (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Wheat Starch Imports

Imports into South Africa

After two years of growth, purchases abroad of wheat starch decreased by -0.9% to X tons in 2021. Over the period under review, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 297% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then fell slightly in the following year.

In value terms, wheat starch imports stood at $X in 2021. In general, imports, however, recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 256% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Australia (X tons) was the main supplier of wheat starch to South Africa, accounting for a 94% share of total imports. It was followed by Argentina (X tons), with a 2.8% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Australia amounted to +48.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-7.7% per year) and Belgium (+99.1% per year).

In value terms, Australia ($X) constituted the largest supplier of wheat starch to South Africa, comprising 91% of total imports. The second position in the ranking was taken by Argentina ($X), with a 3.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia totaled +43.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-2.4% per year) and Belgium (+81.4% per year).

Import Prices by Country

The average wheat starch import price stood at $X per ton in 2021, rising by 2.3% against the previous year. Overall, the import price, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2014 when the average import price increased by 29%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Argentina ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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