Starches; Inulin Price in Vietnam - 2022

Starches; Inulin Price in Vietnam (FOB) - 2022

In December 2022, the average starches; inulin export price amounted to $427 per ton, declining by -3.2% against the previous month. Over the period under review, the export price recorded a slight setback. The most prominent rate of growth was recorded in March 2022 when the average export price increased by 1.8% against the previous month. Over the period under review, the average export prices reached the peak figure at $510 per ton in April 2022; however, from May 2022 to December 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In December 2022, the country with the highest price was Taiwan (Chinese) ($459 per ton), while the average price for exports to China amounted to $424 per ton.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-0.8%).

Starches; Inulin Price in Vietnam (CIF) - 2022

The average starches; inulin import price stood at $1,002 per ton in December 2022, approximately mirroring the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.5%. The most prominent rate of growth was recorded in January 2022 an increase of 41% m-o-m. The import price peaked at $1,073 per ton in March 2022; however, from April 2022 to December 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Poland ($1,352 per ton), while the price for Australia ($741 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Starches; Inulin Exports in Vietnam

In 2022, approx. 2.1M tons of starches; inulins were exported from Vietnam; increasing by 3.2% against 2021. Over the period under review, exports, however, saw a relatively flat trend pattern.

In value terms, starches; inulin exports declined modestly to $908M in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 9.3%. As a result, the exports attained the peak of $948M, and then contracted slightly in the following year.

Export of Starches; Inulin in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	813	819	903	854	1.7%
Taiwan (Chinese)	14.4	16.5	14.7	14.0	-0.9%
Others	44.8	32.2	30.1	39.5	-4.1%
Total	872	868	948	908	1.4%

Top Export Markets for Starches; Inulin from Vietnam in 2022:

China (1956.1K tons)
Taiwan (Chinese) (33.8K tons)

Starches; Inulin Imports in Vietnam

In 2022, purchases abroad of starches; inulins decreased by -13.1% to 121K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +9.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.5% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, imports reached the peak of 139K tons, and then declined in the following year.

In value terms, starches; inulin imports declined sharply to $86M in 2022. In general, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +11.2% 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 +37.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 43% against the previous year. As a result, imports reached the peak of $102M, and then shrank dramatically in the following year.

Import of Starches; Inulin in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lao People's Democratic Republic	16.7	22.9	30.3	23.7	12.4%
India	1.9	5.5	25.5	19.9	118.8%
Indonesia	1.2	3.7	12.8	10.0	102.7%
Thailand	9.9	1.1	10.1	7.9	-7.2%
China	13.3	13.5	2.0	7.4	-17.8%
Germany	3.1	5.6	3.9	3.2	1.1%
France	2.9	3.5	2.9	2.4	-6.1%
Italy	1.2	1.4	1.5	1.2	0.0%
Others	12.5	13.9	12.6	10.7	-5.1%
Total	62.6	70.9	102	86.2	11.3%