Philippines: Potato Starch Market 2024

Potato Starch Market Size in the Philippines

The Philippine potato starch market declined slightly to $X in 2023, approximately reflecting the previous year. Overall, consumption showed a temperate increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Potato Starch Production in the Philippines

In value terms, potato starch production fell to $X in 2023 estimated in export price. Over the period under review, production, however, posted mild growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a lower figure.

Potato Starch Exports

Exports from the Philippines

In 2023, shipments abroad of potato starch increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, potato starch exports soared to $X in 2023. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for potato starch exports from the Philippines, with a X% share of total exports. Moreover, potato starch exports to Vietnam exceeded the volume sent to the second major destination, Denmark (X tons), sixfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Vietnam totaled X%.

In value terms, Vietnam ($X) remains the key foreign market for potato starch exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Denmark ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Vietnam amounted to X%.

Export Prices by Country

The average potato starch export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2023, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Denmark amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced a decline.

Potato Starch Imports

Imports into the Philippines

In 2023, overseas purchases of potato starch increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see steady growth in the immediate term.

In value terms, potato starch imports skyrocketed to $X in 2023. Over the period under review, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, Denmark (X tons) constituted the largest potato starch supplier to the Philippines, with a X% share of total imports. Moreover, potato starch imports from Denmark exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Denmark stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Germany (X% per year).

In value terms, Denmark ($X) constituted the largest supplier of potato starch to the Philippines, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Denmark stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average potato starch import price amounted to $X per ton, picking up by X% against the previous year. In general, import price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, potato starch import price increased by X% against 2021 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Denmark ($X per ton) and Poland ($X per ton), while the price for France ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform