Bangladesh’s significant import volumes and market position in tapioca starch reflect its growing role in the global trade of this versatile product. With Thailand and Vietnam emerging as key suppliers, Bangladesh demonstrates its reliance on these countries to meet its tapioca starch demand.
In 2021, Bangladesh emerged as a significant player in the tapioca starch market, importing a substantial $6.37M worth of the product. This positioned Bangladesh as the 17th largest global importer of tapioca starch. Although tapioca starch ranked as the 1069th most imported product in Bangladesh that year, the import figures underscore the country’s growing demand for this versatile commodity.
Bangladesh primarily sourced its tapioca starch imports from Thailand, accounting for a noteworthy $5.08M. Vietnam followed as another key supplier, contributing $1.28M to Bangladesh’s tapioca starch imports. Singapore played a smaller yet significant role, providing $6.25k worth of tapioca starch. Additionally, the United States and India supplied $5.22k and $1.28k, respectively, to Bangladesh’s tapioca starch market.
Between 2020 and 2021, Bangladesh witnessed robust growth in its import markets for tapioca starch. Vietnam demonstrated remarkable progress, increasing its exports to Bangladesh by $1.09M during this period. Thailand also played a crucial role, with an additional $741k worth of tapioca starch imports into Bangladesh. Singapore’s contribution remained stable at $6.25k, reinforcing its significance as a tapioca starch supplier to the country.
Importing Tapioca Starch from Vietnam: A Reliable Partnership
Vietnam has emerged as a prominent supplier of tapioca starch to the Bangladesh market. In 2021, the total value of tapioca starch imports from Vietnam amounted to an impressive $1,278,032. This significant figure indicates that Vietnam’s tapioca starch holds a strong position in the market and is poised to maintain its presence in Bangladesh in the years to come. The reasons behind this sustained importation are primarily attributed to the product’s superior quality and competitive pricing.
Bangladesh benefits from Vietnam’s tapioca starch exports, which provide a dependable supply of this vital ingredient. The substantial import value from Vietnam underscores Bangladesh’s confidence in Vietnam as a trusted and preferred partner for fulfilling its tapioca starch requirements. With its consistent quality and competitive pricing, Vietnam’s tapioca starch has proven to be a reliable source that meets Bangladesh’s demand for this essential product.
In 2019, Bangladesh faced an average tariff rate of 14.7% on tapioca starch imports. Notably, several countries imposed higher tariffs on this product, including Angola, Burundi, Benin, Burkina Faso, and Botswana. These countries maintained a Most Favored Nation duty rate treatment, resulting in a 15% tariff on tapioca starch imports into Bangladesh.
These higher import tariffs pose trade barriers and potential cost implications for Bangladesh’s tapioca starch imports. To ensure a favorable and sustainable market for tapioca starch, policymakers and stakeholders must carefully consider these tariffs when formulating import strategies and engaging in trade negotiations.