Vietnam: Wheat Starch Market 2024

Wheat Starch Market Size in Vietnam

The Vietnamese wheat starch market amounted to $X in 2021, approximately reflecting the previous year. Overall, consumption recorded a noticeable contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Wheat Starch Production in Vietnam

In value terms, wheat starch production fell slightly to $X in 2021 estimated in export price. Overall, production saw a abrupt curtailment. The growth pace was the most rapid in 2013 when the production volume increased by 30% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Wheat Starch Exports

Exports from Vietnam

In 2021, approx. X tons of wheat starch were exported from Vietnam; with an increase of 6.2% against 2020 figures. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 757%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, wheat starch exports surged to $X in 2021. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 when exports increased by 354% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X tons) was the main destination for wheat starch exports from Vietnam, accounting for a 93% share of total exports. Moreover, wheat starch exports to Cambodia exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia stood at +114.4%.

In value terms, Cambodia ($X) remains the key foreign market for wheat starch exports from Vietnam, comprising 93% of total exports. The second position in the ranking was held by the United States ($X), with a 5.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Cambodia stood at +92.2%.

Export Prices by Country

The average wheat starch export price stood at $X per ton in 2021, rising by 13% against the previous year. In general, the export price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 40% 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 failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cambodia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.7%), while the prices for the other major destinations experienced a decline.

Wheat Starch Imports

Imports into Vietnam

In 2021, imports of wheat starch into Vietnam soared to X tons, jumping by 50% against the previous year's figure. Overall, imports continue to indicate resilient growth. The growth pace was the most rapid in 2014 when imports increased by 139% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, wheat starch imports skyrocketed to $X in 2021. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 143% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, France (X tons) constituted the largest wheat starch supplier to Vietnam, with a 57% share of total imports. Moreover, wheat starch imports from France exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume from France amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+30.7% per year) and Belgium (+57.7% per year).

In value terms, France ($X) constituted the largest supplier of wheat starch to Vietnam, comprising 57% of total imports. The second position in the ranking was held by Australia ($X), with a 29% share of total imports. It was followed by Belgium, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+27.1% per year) and Belgium (+52.7% per year).

Import Prices by Country

In 2021, the average wheat starch import price amounted to $X per ton, rising by 6.7% against the previous year. Overall, the import price, however, saw a noticeable slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Australia ($X per ton) and Belgium ($X per ton), while the price for China ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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