Starches; Inulin Price in New Zealand - 2023

Starches; Inulin Price in New Zealand (CIF) - 2023

The average starches; inulin import price stood at $879 per ton in September 2023, dropping by -30.3% against the previous month. Overall, the import price saw a mild reduction. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 57% against the previous month. The import price peaked at $1,419 per ton in May 2023; however, from June 2023 to September 2023, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($3,140 per ton), while the price for India ($466 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 Denmark (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Starches; Inulin Price in New Zealand (FOB) - 2023

The average starches; inulin export price stood at $1,095 per ton in September 2023, surging by 2.7% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The growth pace was the most rapid in March 2023 when the average export price increased by 16% against the previous month. As a result, the export price reached the peak level of $1,258 per ton. From April 2023 to September 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In September 2023, the country with the highest price was Thailand ($1,336 per ton), while the average price for exports to Canada ($702 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 Thailand (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Starches; Inulin Imports in New Zealand

In 2022, after three years of growth, there was significant decline in purchases abroad of starches; inulins, when their volume decreased by -8.2% to 13K tons. The total import volume increased at an average annual rate of +2.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 11%. As a result, imports attained the peak of 14K tons, and then reduced in the following year.

In value terms, starches; inulin imports expanded significantly to $15M in 2022. The total import value increased at an average annual rate of +9.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Import of Starches; Inulin in New Zealand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belgium	2.2	2.7	2.6	3.2	13.3%
Australia	2.4	2.5	2.6	3.0	7.7%
Thailand	2.2	2.0	2.8	2.6	5.7%
Germany	1.1	1.3	1.2	1.3	5.7%
Netherlands	1.0	1.0	1.2	0.9	-3.5%
France	0.2	0.3	0.6	0.6	44.2%
United States	0.4	0.3	0.7	0.6	14.5%
China	0.3	0.5	0.6	0.6	26.0%
Poland	0.1	0.3	1.1	0.5	71.0%
Denmark	0.3	0.3	0.3	0.3	0.0%
India	N/A	N/A	N/A	0.2	0%
Tonga	N/A	N/A	0.1	0.1	0.0%
Others	1.2	0.6	0.5	1.1	-2.9%
Total	11.4	11.8	14.2	14.9	9.3%

Top Suppliers of Starches; Inulin to New Zealand in 2022:

Australia (4.8K tons)
Thailand (2.6K tons)
Germany (1.0K tons)
Belgium (0.9K tons)
France (0.6K tons)
Netherlands (0.6K tons)
Tonga (0.5K tons)
China (0.5K tons)
Denmark (0.3K tons)
Poland (0.3K tons)
India (0.2K tons)
United States (0.2K tons)

Starches; Inulin Exports in New Zealand

In 2022, overseas shipments of starches; inulins were finally on the rise to reach 11K tons after two years of decline. Over the period under review, exports, however, recorded a pronounced contraction.

In value terms, starches; inulin exports skyrocketed to $10M in 2022. The total export value increased at an average annual rate of +8.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Starches; Inulin in New Zealand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	6.3	5.7	6.1	6.5	1.0%
Thailand	0.7	1.3	1.1	1.4	26.0%
Taiwan (Chinese)	0.2	0.2	0.3	0.6	44.2%
Japan	0.1	N/A	N/A	0.6	81.7%
South Korea	N/A	N/A	N/A	0.4	0%
Fiji	0.2	0.2	0.2	0.3	14.5%
Others	0.2	0.4	0.2	0.2	0.0%
Total	7.7	7.8	7.9	10.0	9.1%