Turkey: Potato Starch Market 2024

Potato Starch Market Size in Turkey

The Turkish potato starch market skyrocketed to $X in 2021, picking up by 41% against the previous year. Overall, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.3% 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 -21.6% against 2019 indices. Potato starch consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Potato Starch Production in Turkey

In value terms, potato starch production soared to $X in 2021 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.7% 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 -25.7% against 2019 indices. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Potato Starch Exports

Exports from Turkey

In 2021, overseas shipments of potato starch increased by 20% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2020 when exports increased by 814% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, potato starch exports skyrocketed to $X in 2021. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 360%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for potato starch exports from Turkey, accounting for a 93% share of total exports. It was followed by Cyprus (X tons), with a 2.4% share of total exports. Iraq (X tons) ranked third in terms of total exports with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+7.6% per year) and Iraq (-0.6% per year).

In value terms, China ($X) remains the key foreign market for potato starch exports from Turkey, comprising 84% of total exports. The second position in the ranking was held by Cyprus ($X), with a 4.5% share of total exports. It was followed by Iraq, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+7.4% per year) and Iraq (+6.4% per year).

Export Prices by Country

In 2021, the average potato starch export price amounted to $X per ton, with an increase of 7.1% against the previous year. In general, the export price, however, continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2013 when the average export price increased by 65% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to China ($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 Iran (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Starch Imports

Imports into Turkey

Potato starch imports into Turkey rose rapidly to X tons in 2021, growing by 5.8% compared with the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 16% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, potato starch imports contracted to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 28% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), France (X tons) and Denmark (X tons) were the main suppliers of potato starch imports to Turkey, with a combined 83% share of total imports. Germany, Austria, Poland and Iran lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +23.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Denmark ($X) were the largest potato starch suppliers to Turkey, together comprising 82% of total imports. Germany, Austria, Poland and Iran lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Austria, with a CAGR of +20.9%, 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

In 2021, the average potato starch import price amounted to $X per ton, falling by -13.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 51% against the previous year. 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.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and the Netherlands ($X per ton), while the price for Austria ($X per ton) and Iran ($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 Netherlands (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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