South-Eastern Asia: Wheat Starch Market 2024

Wheat Starch Market Size in South-Eastern Asia

The Southeast Asian wheat starch market reduced to $X in 2021, shrinking by -2.3% against the previous year. Over the period under review, consumption, however, recorded a buoyant expansion. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Wheat Starch Production in South-Eastern Asia

In value terms, wheat starch production dropped modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate prominent growth. The pace of growth was the most pronounced in 2016 with an increase of 33%. The level of production peaked at $X in 2020, and then declined in the following year.

Wheat Starch Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of wheat starch decreased by -21.2% to X tons, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2018 with an increase of 159%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, wheat starch exports contracted to $X in 2021. Over the period under review, exports continue to indicate a slight slump. The pace of growth appeared the most rapid in 2018 with an increase of 219% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Singapore prevails in exports structure, accounting for X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Vietnam (X tons), committing an 8.2% share of total exports.

Exports from Singapore decreased at an average annual rate of -2.4% from 2012 to 2021. At the same time, Vietnam (+30.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +30.2% from 2012-2021. From 2012 to 2021, the share of Vietnam and Singapore increased by +7.6 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest wheat starch supplier in South-Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Singapore was relatively modest.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, picking up by 9.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 23%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Singapore totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.9%).

Wheat Starch Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of wheat starch decreased by -20.6% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2018 when imports increased by 94% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wheat starch imports fell remarkably to $X in 2021. In general, imports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 122%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of wheat starch, namely Singapore, Indonesia, Thailand and Malaysia, represented more than two-thirds of total import. The Philippines (X tons) held an 8.4% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (5.4%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +11.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Thailand ($X), together comprising 69% of total imports. Malaysia, the Philippines and Vietnam lagged somewhat behind, together accounting for a further 29%.

In terms of the main importing countries, the Philippines, with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, rising by 6.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and the Philippines ($X per ton), while Indonesia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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