Uruguay: Modified Starches Market 2024

Modified Starches Market Size in Uruguay

The Uruguayan modified starches market shrank slightly to $X in 2022, which is down by -3.2% against the previous year. Overall, consumption showed a perceptible setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Modified Starches Production in Uruguay

In value terms, modified starches production dropped to $X in 2022 estimated in export price. In general, production recorded a pronounced descent. The growth pace was the most rapid in 2016 when the production volume increased by 38%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports from Uruguay

In 2022, approx. X tons of dextrins and other modified starches were exported from Uruguay; with an increase of 123% against the previous year. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,556% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, modified starches exports rose notably to $X in 2022. Overall, exports saw strong growth. The pace of growth appeared the most rapid in 2016 when exports increased by 1,579%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Argentina (X tons), Peru (X tons) and Bolivia (X tons) were the main destinations of modified starches exports from Uruguay, together comprising 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +64.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X) remains the key foreign market for dextrins and other modified starches exports from Uruguay, comprising 77% of total exports. The second position in the ranking was taken by Argentina ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bolivia stood at +67.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+34.4% per year) and Peru (0.0% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, falling by -50.9% against the previous year. Overall, the export price, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 an increase of 191% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Uruguay

In 2022, approx. X tons of dextrins and other modified starches were imported into Uruguay; growing by 38% compared with the year before. Over the period under review, imports, however, continue to indicate a abrupt descent. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, modified starches imports surged to $X in 2022. Overall, imports, however, recorded a abrupt slump. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of modified starches to Uruguay, with a 69% share of total imports. Moreover, modified starches imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by Argentina (X tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.7% per year) and Argentina (-26.2% per year).

In value terms, Brazil ($X), the United States ($X) and Argentina ($X) constituted the largest modified starches suppliers to Uruguay, with a combined 81% share of total imports. Germany, Denmark and the Netherlands lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, the Netherlands, with a CAGR of +12.9%, saw 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 2022, the average modified starches import price amounted to $X per ton, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2017 when the average import price increased by 46%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+34.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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