Argentina: Maize Starch Market 2024

Maize Starch Market Size in Argentina

The Argentinian maize starch market expanded notably to $X in 2021, rising by 14% against the previous year. Over the period under review, consumption showed a strong expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Maize Starch Production in Argentina

In value terms, maize starch production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Maize Starch Exports

Exports from Argentina

In 2021, after two years of growth, there was significant decline in overseas shipments of maize (corn) starch, when their volume decreased by -48.7% to X tons. Over the period under review, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 31% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, maize starch exports shrank notably to $X in 2021. In general, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 26% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X tons) was the main destination for maize starch exports from Argentina, with a 87% share of total exports. Moreover, maize starch exports to Chile exceeded the volume sent to the second major destination, Uruguay (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Chile amounted to -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-9.4% per year) and Bolivia (-12.1% per year).

In value terms, Chile ($X) remains the key foreign market for maize (corn) starch exports from Argentina, comprising 86% of total exports. The second position in the ranking was held by Uruguay ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Chile totaled -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-10.5% per year) and Bolivia (-15.4% per year).

Export Prices by Country

In 2021, the average maize starch export price amounted to $X per ton, increasing by 9.3% against the previous year. Over the period under review, the export price, however, saw a noticeable curtailment. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (-1.3%), while the prices for the other major destinations experienced a decline.

Maize Starch Imports

Imports into Argentina

In 2021, after two years of growth, there was significant decline in purchases abroad of maize (corn) starch, when their volume decreased by -43.9% to X tons. Overall, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 909%. Imports peaked at X tons in 2020, and then declined dramatically in the following year.

In value terms, maize starch imports contracted rapidly to $X in 2021. Over the period under review, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 621% against the previous year. Imports peaked at $X in 2020, and then declined sharply in the following year.

Imports by Country

In 2021, Brazil (X tons) was the main supplier of maize starch to Argentina, accounting for a 96% share of total imports. It was followed by Paraguay (X tons), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Brazil totaled +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (-5.7% per year) and the United States (-0.9% per year).

In value terms, Brazil ($X) constituted the largest supplier of maize (corn) starch to Argentina, comprising 89% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-0.8% per year) and Paraguay (-4.7% per year).

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, waning by -31.9% against the previous year. Over the period under review, the import price saw a abrupt decrease. The growth pace was the most rapid in 2015 an increase of 47% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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