Starches; Inulin Price in China - 2023
Contents:
- Starches; Inulin Price in China (CIF) - 2023
- Starches; Inulin Price in China (FOB) - 2023
- Starches; Inulin Imports in China
- Starches; Inulin Exports in China
Starches; Inulin Price in China (CIF) - 2023
The average starches; inulin import price stood at $548 per ton in September 2023, waning by -1.6% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 6.6% month-to-month. As a result, import price reached the peak level of $560 per ton. From July 2023 to September 2023, the average import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Thailand ($557 per ton), while the price for Indonesia ($525 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Thailand (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Starches; Inulin Price in China (FOB) - 2023
The average starches; inulin export price stood at $1,105 per ton in September 2023, declining by -2.9% against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 25% month-to-month. Over the period under review, the average export prices attained the maximum at $1,433 per ton in July 2023; however, from August 2023 to September 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($3,126 per ton), while the average price for exports to Thailand ($684 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.
Starches; Inulin Imports in China
For the fourth consecutive year, China recorded growth in supplies from abroad of starches; inulins, which increased by 21% to 4.4M tons in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +21.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.5% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 27% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, starches; inulin imports surged to $2.3B in 2022. In general, imports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 48%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Starches; Inulin in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 695 | 709 | 1,235 | 1,278 | 22.5% |
| Vietnam | 312 | 389 | 288 | 805 | 37.2% |
| Others | 77.1 | 101 | 249 | 181 | 32.9% |
| Total | 1,084 | 1,199 | 1,771 | 2,264 | 27.8% |
Top Suppliers of Starches; Inulin to China in 2022:
- Thailand (2.4M tons)
- Vietnam (1.6M tons)
Starches; Inulin Exports in China
In 2022, overseas shipments of starches; inulins increased by 46% to 292K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a dramatic slump.
In value terms, starches; inulin exports skyrocketed to $202M in 2022. Overall, exports, however, recorded a deep downturn.
| Export of Starches; Inulin in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 111 | 84.6 | 10.6 | 45.0 | -26.0% |
| South Korea | 32.4 | 28.5 | 31.3 | 33.0 | 0.6% |
| Philippines | 25.6 | 30.7 | 35.0 | 27.0 | 1.8% |
| Thailand | 18.7 | 15.5 | 8.5 | 17.5 | -2.2% |
| Malaysia | 53.8 | 42.8 | 5.5 | 10.7 | -41.6% |
| Myanmar | 1.3 | 3.2 | 3.5 | 6.5 | 71.0% |
| Nigeria | 5.1 | 3.4 | 3.2 | 4.6 | -3.4% |
| Vietnam | 14.0 | 11.9 | 2.1 | 2.6 | -42.9% |
| Taiwan (Chinese) | 15.3 | N/A | N/A | N/A | 0% |
| Others | 25.5 | 43.4 | 40.8 | 54.9 | 29.1% |
| Total | 302 | 264 | 140 | 202 | -12.5% |
Top Export Markets for Starches; Inulin from China in 2022:
- Indonesia (89.1K tons)
- Philippines (57.1K tons)
- South Korea (29.1K tons)
- Thailand (25.0K tons)
- Malaysia (19.4K tons)
- Nigeria (8.8K tons)
- Myanmar (8.5K tons)
- Vietnam (4.7K tons)
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