Mongolia, an emerging player in the global tapioca starch market, has witnessed noteworthy developments in its import activities.
Imports
In 2021, Mongolia imported tapioca starch worth $32.2k, positioning the country as the 101st largest importer of this product globally. Tapioca starch ranked as the 2406th most imported commodity in Mongolia during the same year. Mongolia primarily imports tapioca starch from Thailand, accounting for the majority of imports at $32.1k. Additionally, the country sources smaller quantities from Russia, totaling $68.
Mongolia experienced notable growth in its import market for tapioca starch between 2020 and 2021, driven primarily by increased imports from Thailand, contributing $32.1k. This growth signifies the growing demand for tapioca starch in Mongolia, highlighting the strengthening trade relationship between the two countries.
Tariffs
In 2018, the average tariff imposed on tapioca starch imports in Mongolia stood at 5%. Notably, Angola, Burundi, Benin, Burkina Faso, and Botswana implemented the highest import tariffs on tapioca starch, with a Most Favoured Nation duty rate treatment of 5%. These tariffs reflect the trade policies and protective measures enforced by these countries to regulate the inflow of tapioca starch imports.
Conclusion
Mongolia’s position as an importer of tapioca starch demonstrates its active engagement in the global market. The country has witnessed notable growth in its import market, with Thailand serving as the primary source of tapioca starch. Additionally, imports from Russia contribute to Mongolia’s tapioca starch supply. As trade policies and tariffs continue to shape the industry, stakeholders in the tapioca starch trade must remain vigilant about evolving market dynamics to capitalize on opportunities and navigate challenges effectively in Mongolia’s dynamic market environment.
Data from BACI