PURPOSE: To obtain a starch ester which has excellent heat stability and desirable solubility/dispersibility in a nonpolar organic solvent by the esterification or ester interchange of a specified starch component and an acyl group- containing component.

CONSTITUTION: A starch ester comprises an esterification or ester interchange product of (a) a starch component and (b) an acyl group-containing component. The starch component (a) contains an alkoxylated starch component selected from at least one of (1) propoxylated starch having mass substitution of at least 2.5, (2) propoxylated dextrin having mass substitution of at least 2.0, (3) butoxylated starch having mass substitution of at least 0.5, (4) butoxylated dextrin having mass substitution of at least 0.3. The acyl group (b)-containing component is selected from at least one of (1) a 8-40C fatty acid and (2) a 8-40C fatty oil. The starch ester is especially suitable for a binder of coating, adhesives, and ink.