Latin America and the Caribbean: Wheat Starch Market 2024

Wheat Starch Market Size in Latin America and the Caribbean

The Latin American wheat starch market amounted to $X in 2023, with an increase of X% against the previous year. In general, consumption recorded resilient growth. Over the period under review, the market reached the peak level at $X in 2021; afterwards, it flattened through to 2023.

Wheat Starch Production in Latin America and the Caribbean

In value terms, wheat starch production amounted to $X in 2023 estimated in export price. Overall, production posted a prominent increase. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Wheat Starch Exports

Exports in Latin America and the Caribbean

Wheat starch exports fell remarkably to X tons in 2023, which is down by X% compared with 2022 figures. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, wheat starch exports shrank markedly to $X in 2023. Over the period under review, exports, however, recorded a notable expansion. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then declined markedly in the following year.

Exports by Country

In 2023, Argentina (X tons) was the largest exporter of wheat starch in Latin America and the Caribbean, making up X% of total export.

Argentina experienced a relatively flat trend pattern with regard to volume of exports of wheat starch. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) also remains the largest wheat starch supplier in Latin America and the Caribbean.

In Argentina, wheat starch exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, leveling off at the previous year. In general, the export price, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then reduced modestly in the following year.

As there is only one major export destination, the average price level is determined by prices for Argentina.

From 2012 to 2023, the rate of growth in terms of prices for Argentina amounted to X% per year.

Wheat Starch Imports

Imports in Latin America and the Caribbean

In 2023, purchases abroad of wheat starch was finally on the rise to reach X tons after three years of decline. In general, imports enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.

In value terms, wheat starch imports rose to $X in 2023. Over the period under review, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Colombia was the main importer of wheat starch in Latin America and the Caribbean, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. Brazil (X tons) held the second position in the ranking, distantly followed by Chile (X tons) and Guatemala (X tons). All these countries together took approx. X% share of total imports. The following importers - Peru (X tons), Ecuador (X tons) and Bolivia (X tons) - each amounted to a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to wheat starch imports into Colombia stood at X%. At the same time, Bolivia (X%), Guatemala (X%), Brazil (X%) and Peru (X%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Chile (X%) and Ecuador (X%) illustrated a downward trend over the same period. Colombia (X p.p.), Brazil (X p.p.), Guatemala (X p.p.) and Bolivia (X p.p.) significantly strengthened its position in terms of the total imports, while Chile and Ecuador saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wheat starch importing markets in Latin America and the Caribbean were Colombia ($X), Brazil ($X) and Guatemala ($X), together accounting for X% of total imports. Chile, Peru, Bolivia and Ecuador lagged somewhat behind, together comprising a further X%.

Bolivia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, flattening at the previous year. Import price indicated a modest increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, wheat starch import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Guatemala ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bolivia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform