Spain: Wheat Starch Market 2024

Wheat Starch Market Size in Spain

The Spanish wheat starch market was estimated at $X in 2021, rising by 7.4% against the previous year. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Wheat Starch Production in Spain

In value terms, wheat starch production expanded markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 53% against the previous year. Wheat starch production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wheat Starch Exports

Exports from Spain

In 2021, approx. X tons of wheat starch were exported from Spain; which is down by -44.3% against 2020 figures. In general, exports recorded a dramatic slump. The most prominent rate of growth was recorded in 2018 when exports increased by 42%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, wheat starch exports contracted rapidly to $X in 2021. Over the period under review, exports recorded a sharp contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 57%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Portugal (X tons) was the main destination for wheat starch exports from Spain, accounting for a 78% share of total exports. Moreover, wheat starch exports to Portugal exceeded the volume sent to the second major destination, Cuba (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Portugal totaled +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-18.4% per year) and France (-48.4% per year).

In value terms, Portugal ($X) emerged as the key foreign market for wheat starch exports from Spain, comprising 79% of total exports. The second position in the ranking was taken by Cuba ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Portugal amounted to +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (-20.5% per year) and France (-41.8% per year).

Export Prices by Country

In 2021, the average wheat starch export price amounted to $X per ton, with an increase of 28% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 an increase of 97% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Cuba ($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 France (+12.7%), while the prices for the other major destinations experienced a decline.

Wheat Starch Imports

Imports into Spain

In 2021, supplies from abroad of wheat starch increased by 5.3% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.2% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 59% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, wheat starch imports surged to $X in 2021. The total import value increased at an average annual rate of +5.3% 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 2014 when imports increased by 33% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Belgium (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of wheat starch imports to Spain, with a combined 63% share of total imports. These countries were followed by Austria, the Netherlands, France and Portugal, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +59.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch suppliers to Spain were Belgium ($X), Italy ($X) and France ($X), with a combined 59% share of total imports. Germany, the Netherlands, Austria and Portugal lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, Portugal, with a CAGR of +57.5%, recorded the highest growth rate of 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

In 2021, the average wheat starch import price amounted to $X per ton, picking up by 9.3% against the previous year. In general, the import price, however, saw a mild contraction. The most prominent rate of growth was recorded in 2018 an increase of 15%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :