For the Quarter Ending December 2025
APAC
• In China, the Wheat Starch Price Index rose by 1.1% quarter-over-quarter, reflecting tighter exports and higher demand.
• The average Wheat Starch price for the quarter was USD 562.33/MT, supported by constrained supply and demand.
• Wheat Starch Spot Price firmed as mill allocations tightened and wheat feedstock costs increased, limiting exportable volumes.
• Wheat Starch Price Forecast indicates slight month-to-month corrections followed by modest recovery driven by seasonal restocking.
• Wheat Starch Production Cost Trend rose due to elevated wheat and energy prices, pressuring processor margins and offers.
• Wheat Starch Demand Outlook remains supportive from food-processing and industrial applications heading into peak seasonal production.
• Wheat Starch Price Index showed a marginal quarterly increase, reflecting balanced upward pressure from restocking and constrained shipments.
• Export demand from Southeast Asia remained steady while year-end maintenance and new Henan capacity affected cargo availability.
Why did the price of Wheat Starch change in December 2025 in APAC?
• Tight mill allocations and increased wheat input costs reduced exportable supply, supporting marginal upward price pressure.
• Start-up of Henan wet-milling added volumes, while domestic inventory liquidation and buyer postponements softened immediate demand.
• Logistics normalised at Shanghai ports, but higher freight and energy costs sustained FOB pricing and margin pressures.
Europe
• In Germany, the Wheat Starch Price Index fell by 3.7% quarter-over-quarter, reflecting ample supply, subdued demand.
• The average Wheat Starch price for the quarter was approximately USD 633.33/MT, reflecting subdued procurement.
• Wheat Starch Spot Price eased as cheaper feed-wheat passed through, reducing offers at Hamburg terminals.
• Wheat Starch Price Forecast suggests modest recovery as restocking starts, contingent on spring demand strength.
• Wheat Starch Production Cost Trend benefited from lower feed-wheat prices, easing mill operating cost pressures.
• Wheat Starch Demand Outlook remains muted as paper, food processors delay purchases, reducing spot activity.
• Wheat Starch Price Index reflects persistent seller discounts amid ample imports, limiting upward price momentum.
• Terminal inventories remained comfortable, export arbitrage limited, and mills operated near capacity, sustaining supply pressure.
Why did the price of Wheat Starch change in December 2025 in Europe?
• Ample intra-EU shipments and comfortable inventories reduced seller leverage, pressuring CFR Hamburg delivered prices downward.
• Lower feed-wheat quotations trimmed production costs, enabling suppliers to offer smaller premiums versus earlier quarters.
• Weak industrial demand and postponed procurement by converters sustained destocking, limiting immediate spot buying pressure.
North America
• In USA, the Wheat Starch Price Index fell by 2.48% quarter-over-quarter, reflecting import pressure overall.
• The average Wheat Starch price for the quarter was approximately USD 669.67/MT, reflecting subdued end-user buying.
• Wheat Starch Spot Price weakness echoed the regional Price Index, reflecting regular shipments and inventories.
• Wheat Starch Price Forecast points to gradual adjustment as buyers delay purchases and restocking cautious.
• Wheat Starch Production Cost Trend subdued as flat wheat futures and lower freight eased upstream costs.
• Wheat Starch Demand Outlook remains muted with bakers and snack manufacturers drawing on existing inventories.
• Inventory accumulation and eased logistics pressured the Price Index, while export demand failed to offset surplus.
• Distributors likely to discount December cargoes, exerting downward pressure on the Wheat Starch Price Index short-term.
Why did the price of Wheat Starch change in December 2025 in North America?
• Elevated imports from Europe and Canada increased supply, reducing spot buying urgency and pricing support.
• Thin seasonal demand and processors drawing on stocks constrained spot offtake, weakening regional Price Index.
• Lower freight and stable wheat futures narrowed landed costs, enabling sellers to offer discounted cargoes.
For the Quarter Ending September 2025
APAC
• In India, the Wheat Starch Price Index fell by 1.26% quarter-over-quarter, reflecting abundant wheat stocks and weak demand.
• The average Wheat Starch price for the quarter was approximately USD 820.38/MT, reflecting subdued buying and high inventories.
• Wheat Starch Spot Price exhibited limited upside as large trader inventories capped urgent buying and spot premiums.
• Wheat Starch Price Forecast indicates modest volatility with slight recovery expected if demand pickup materializes during festivals.
• Wheat Starch Production Cost Trend softened due to cheaper wheat feedstock, but monsoon logistics raised local handling expenses.
• Wheat Starch Demand Outlook remains muted as food, textile, and paper sectors delay procurement amid inventory overhang.
• Wheat Starch Price Index showed minor QoQ decline while export inquiries fluctuated, limiting producers' pricing power domestically.
• Elevated inventories and mixed export demand pressured margins; major mills ran operations but offered spot discounts.
Why did the price of Wheat Starch change in September 2025 in APAC?
• Excess domestic wheat stocks increased feedstock availability, reducing raw material costs and downward pricing pressure.
• Weaker industrial demand and cautious procurement across food, textile and paper sectors suppressed buying slightly.
• Monsoon-related transport disruptions and localized warehousing cost increases elevated logistical expenses, tempering producer margins downward.
Europe
• In Germany, the Wheat Starch Price Index fell by 2.86% quarter-over-quarter, reflecting oversupply and weak demand.
• The average Wheat Starch price for the quarter was approximately USD 657.67/MT as CFR Hamburg.
• Wheat Starch Spot Price weakened as inventories pressured the Price Index despite logistical congestion impacts.
• Wheat Starch Price Forecast shows modest recovery as restocking offsets prior oversupply and port delays.
• Wheat Starch Production Cost Trend remained subdued with lower wheat and energy costs supporting offers.
• Wheat Starch Demand Outlook stayed muted as food processors drew inventories down and delayed replenishment.
• Regional export interest tightened supply streams, putting upward pressure on the Wheat Starch Price Index.
• Producers maintained utilization but faced destocking; limited corn starch substitution influenced Wheat Starch Spot Price.
Why did the price of Wheat Starch change in September 2025 in Europe?
• Global harvest variability and tighter export volumes reduced inbound availability to Germany, tightening effective supply and lifting landed costs.
• Higher freight rates, port congestion, and euro depreciation increased landed costs, supporting upward movement in Price Index.
• Seasonal restocking and sustained pharmaceutical and food demand countered earlier destocking, creating balanced upward pressure on prices.
North America
• In the USA, the Wheat Starch Price Index fell by 1.72% quarter-over-quarter, reflecting persistent oversupply and muted end-user demand.
• The average Wheat Starch price for the quarter was approximately USD 686.67/MT, reflecting subdued buying and elevated inventory levels.
• Wheat Starch Spot Price showed limited upside due to ample imports and competitive exporter pricing pressure.
• Wheat Starch Price Forecast indicates modest volatility with gradual normalization as seasonal demand resumes soon.
• Wheat Starch Production Cost Trend declined as global wheat prices eased, lowering input and processing expenses for mills.
• Wheat Starch Demand Outlook remains soft across food, pharmaceutical, and packaging sectors, keeping purchasing cautious.
• Wheat Starch Price Index movement was influenced by port logistics normalization and competitive export flows into the United States.
• Export demand and inventories constrained domestic pricing dynamics, with buyers prioritizing destocking over aggressive procurement.
Why did the price of Wheat Starch change in September 2025 in North America?
• Persistent oversupply from global exporters pressured domestic availability and suppressed price realization throughout the month.
• Reduced industrial procurement and high end-user inventories weakened immediate consumption and buying urgency across sectors.
• Improved port operations and lower freight rates eased logistics costs but failed to offset oversupply effects.
For the Quarter Ending June 2025
North America
• The Wheat Starch spot price in the U.S. showed a persistent downward trend through Q2 2025, driven by oversupply and weakened demand, with the average Quarter-over-Quarter price falling by 1.43%. By June 2025, prices moved marginally lower to USD 690 per metric ton, finalizing the quarter at its lowest point.
• Wheat Starch Production cost trends were consistently soft, as global wheat surpluses—particularly from Australia, Russia, and Canada—kept input prices low. Domestic production remained stable, and favorable energy costs contributed to reduced manufacturing expenses.
• Wheat Starch Demand outlook throughout the quarter stayed bearish, with industries such as food processing, paper, and pharmaceuticals reducing their offtake. Downstream sectors frequently turned to lower-cost alternatives like corn and tapioca starch, thereby limiting demand recovery.
• Weak downstream industrial demand and robust supplies in both local and international markets led to muted spot transactions and minimal price volatility during May and June.
• The Wheat Starch spot price was under continued pressure in June 2025 as high inventories and cautious procurement persisted, with slight logistics disruptions at the Port of New York and New Jersey resolved before month’s end—having no lasting market impact.
• Intense import competition from Asia and Eastern Europe persisted, with aggressive pricing strategies by global producers who benefited from lower labor and raw material costs.
• U.S. manufacturers-maintained production at near-capacity levels; however, ample inventories and thinning margins meant suppliers were often forced to make price concessions to clear stock.
• Export competitiveness deteriorated due to the strength of the U.S. dollar and persistent global oversupply, leading to further pressure on the Wheat Starch spot price.
• The Wheat Starch price forecast for the next quarter suggests continued softness, as destocking behavior and muted downstream activity provide little foundation for near-term recovery.
• Despite sporadic optimism from improved logistics and brief dips in freight rates, the market remains structurally oversupplied, with demand-side fundamentals expected to lag through Q3 2025.
APAC
• The Wheat Starch spot price in India followed a pronounced downward pattern throughout Q2 2025, with an average Quarter-over-Quarter drop of 11.83%—ending June at approximately USD 1058 per metric ton.
• The Wheat Starch production cost trend benefited from a record-breaking rabi wheat harvest, with favorable weather and enhanced government procurement driving supply surpluses and cheap feedstock for starch manufacturing.
• Wheat Starch Demand outlook was subdued, with sluggish offtake from industrial buyers and food processors due to high inventories and increased adoption of alternate starches such as corn and tapioca.
• Price behavior in June 2025 reflected relentless downward momentum, as wheat starch manufacturers faced record grain stockpiles and were compelled to offload surplus inventory at compressed margins, sharpening spot price competition.
• Expanded domestic capacity and technological adoption among manufacturers improved supply chain efficiencies but exacerbated local oversupply and limited any upward price movement.
• Export prospects for Indian wheat starch were dampened by currency volatility among traditional importers and by abundant competing supplies in Southeast Asia, restricting external demand.
• The robust government wheat procurement program provided stability but sustained excess stock at both state and private storage, weighing heavily on starch market sentiment.
• Operational cost advantages from energy price stability aided in maintaining manufacturing throughput, though did not offset the pressure of margin erosion from price-cutting.
• Buyer sentiment in both food and industrial segments was conservative, with processers accelerating destocking and only minimal replenishment in anticipation of further price softness.
• The Wheat Starch price forecast for the next quarter remains bearish, supported by reports of buffer stocks well above historical norms, stagnant downstream demand, and continued competition from alternative starch sources.
Europe (Germany as regional benchmark)
• The Wheat Starch spot price in Germany experienced a sharp downward movement during Q2 2025, averaging a 1.05% Quarter-over-Quarter decline and finishing June at USD 658 per metric ton, with the greatest monthly drop seen in April.
• The Wheat Starch production cost trend consistently moved downward, thanks to a bumper wheat harvest across Europe and stable, subdued energy prices, ensuring low per-unit manufacturing expenses throughout the quarter.
• Demand outlook weakened as buyers—particularly in food processing and industrial applications—substituted Wheat Starch with cheaper alternatives like corn and potato starch amid inflation and economic caution.
• June 2025 marked sustained price weakness, as incoming harvests from Eastern Europe and the Black Sea region flooded the market, while downstream industries maintained low procurement due to high stocks and subdued consumer demand.
• Intense pricing pressure from both high domestic production and continued strong imports (notably from Australia) resulted in swollen inventories and routine undercutting among suppliers to clear space ahead of the new harvest cycle.
• The market faced additional selling urgency as the risk of product degradation rose with warmer weather and high storage costs, fueling trade activity at or below cost price levels.
• Supply-side stability persisted, with logistics running smoothly and no significant bottlenecks reported—though euro depreciation provided only minor relief, insufficient to reverse the overall market decline.
• The Wheat Starch market structure remained fundamentally oversupplied due to aggressive early-2025 stockpiling by processors and traders worried about potential global disruptions that ultimately did not materialize.
• Forward-looking sentiment was further undermined by lackluster demand for processed foods and bioplastic segments, as sluggish exports and weak domestic orders prevailed.
• The Wheat Starch price forecast for the next quarter signals continued weakness, with spot prices likely to remain under pressure barring a major supply shock or sudden demand surge, given the entrenched oversupply and alternative starch competition.
For the Quarter Ending March 2025
North America
The North American wheat starch market in Q1 2025 is characterized by a complex interplay of supply and demand factors. While demand is expected to gain momentum, traders remain cautious due to a steady decline in consumption and weak consumer confidence.
Inventory levels are elevated, prompting market participants to focus on clearing stocked supplies amid fluctuating quotations from downstream starch mills and the food sector. Additionally, currency dynamics, particularly a weak U.S. dollar, are influencing regional competitiveness and pricing pressures, contributing to a cautiously balanced market outlook throughout the quarter.
In the United States, wheat starch prices declined by 3.48% from Q4 2024 to Q1 2025, averaging 721 USD/MT in the current quarter. Monthly pricing exhibited a relatively flat trend, reflecting subdued volatility. This stability is underpinned by strong domestic production, a global wheat surplus, and tempered demand across starch mills. Despite these bearish pressures, a weak dollar and rising downstream quotations suggest potential upward price adjustments, indicating a cautiously stable near-term outlook for the U.S. wheat starch market.
Asia Pacific
The APAC wheat starch market in Q1 2025 is characterized by a persistent oversupply relative to demand, with traders holding ample inventories and focusing on destocking strategies. Elevated feedstock costs and rising transportation expenses are sustaining production costs and export prices at higher levels. Despite some downward pressure expected later in the quarter due to modest drops in overseas quotations and sluggish downstream demand, export inquiries remain robust, supporting overall market activity. The regional sentiment is cautiously optimistic, balancing inventory clearance with sustained overseas demand.
In Australia, wheat starch prices increased modestly by 0.57% from Q4 2024 to Q1 2025. Monthly prices remained relatively flat, reflecting stable market conditions amid sufficient inventories. Price support stems from higher feedstock costs, elevated energy and transportation expenses, and persistent overseas demand. The near-term outlook is cautiously bullish, with exporters expected to maintain elevated price levels despite some anticipated price moderation.
Europe
The European wheat starch market in Q1 2025 is characterized by subdued demand amid ample inventories and cautious purchasing behavior. Market participants face competition from alternative starches, notably corn starch, which dampens wheat starch consumption. Supply chain improvements have eased logistical constraints, yet rising global shipping costs and a weakening euro elevate import expenses. Moderate economic growth and positive consumer sentiment provide some support, but overall trading remains muted with a focus on inventory clearance and balancing supply-demand dynamics.
In Germany, wheat starch prices declined by 2.13% from Q4 2024 to Q1 2025, averaging 751 USD/MT in the current quarter. Monthly prices exhibited a relatively flat trend, reflecting stable market conditions. Price movements were influenced by sufficient inventories, weakening purchasing, and substitution by other starches, while supply chain enhancements and currency depreciation affected landed costs. The market outlook remains cautiously stable, with expectations of moderate price fluctuations supported by steady procurement and improving economic sentiment.
