Turkey: Wheat Starch Market 2024

Wheat Starch Market Size in Turkey

The Turkish wheat starch market fell to $X in 2021, reducing by -13.3% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Wheat Starch Production in Turkey

In value terms, wheat starch production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 57% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then reduced slightly in the following year.

Wheat Starch Exports

Exports from Turkey

For the fifth year in a row, Turkey recorded growth in shipments abroad of wheat starch, which increased by 1.9% to X tons in 2021. In general, exports recorded resilient growth. The growth pace was the most rapid in 2015 with an increase of 58% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, wheat starch exports rose slightly to $X in 2021. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 63%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Iraq (X tons) and Azerbaijan (X tons) were the main destinations of wheat starch exports from Turkey, with a combined 58% share of total exports. These countries were followed by the UK, the United Arab Emirates, the United States, Jordan, Cyprus, Austria, Uzbekistan and France, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Jordan (with a CAGR of +104.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for wheat starch exports from Turkey, comprising 36% of total exports. The second position in the ranking was taken by Iraq ($X), with a 17% share of total exports. It was followed by Azerbaijan, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+16.7% per year) and Azerbaijan (-3.3% per year).

Export Prices by Country

The average wheat starch export price stood at $X per ton in 2021, with an increase of 3% against the previous year. Over the period under review, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 23% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 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 Germany ($X per ton), while the average price for exports to Uzbekistan ($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 Azerbaijan (+2.7%), while the prices for the other major destinations experienced a decline.

Wheat Starch Imports

Imports into Turkey

Wheat starch imports into Turkey declined to X tons in 2021, waning by -7.4% compared with 2020 figures. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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 +10.6% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 27%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, wheat starch imports dropped rapidly to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Iran (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of wheat starch imports to Turkey, with a combined 81% share of total imports. Lithuania, Germany, Hungary, Kazakhstan, Italy, Argentina, France and Canada lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +236.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch suppliers to Turkey were Belgium ($X), Iran ($X) and the Netherlands ($X), together accounting for 72% of total imports. These countries were followed by Lithuania, Germany, Hungary, Kazakhstan, Argentina, Italy, France and Canada, which together accounted for a further 26%.

Hungary, with a CAGR of +233.1%, recorded the highest growth rate of the value of imports, among the main suppliers 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, which is down by -12.3% against the previous year. Overall, the import price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 7.3%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Iran ($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 (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :