Australia: Maize Starch Market 2024

Maize Starch Market Size in Australia

After two years of growth, the Australian maize starch market decreased by -10.8% to $X in 2021. In general, consumption, however, recorded a prominent increase. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Maize Starch Production in Australia

In value terms, maize starch production reduced to $X in 2021 estimated in export price. Overall, production, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 45%. Maize starch production peaked at $X in 2020, and then contracted in the following year.

Maize Starch Exports

Exports from Australia

For the third consecutive year, Australia recorded decline in overseas shipments of maize (corn) starch, which decreased by -39.5% to X tons in 2021. Overall, exports recorded a dramatic setback. The most prominent rate of growth was recorded in 2013 with an increase of 75% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, maize starch exports soared to $X in 2021. In general, exports showed a sharp decline. The pace of growth was the most pronounced in 2013 with an increase of 74% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), New Zealand (X tons) and Malaysia (X tons) were the main destinations of maize starch exports from Australia, with a combined 80% share of total exports. These countries were followed by Papua New Guinea, Vietnam and Ireland, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Papua New Guinea (with a CAGR of +33.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize starch exported from Australia were China ($X), Malaysia ($X) and New Zealand ($X), together comprising 80% of total exports. These countries were followed by Vietnam, Papua New Guinea and Ireland, which together accounted for a further 20%.

Among the main countries of destination, Papua New Guinea, with a CAGR of +35.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average maize starch export price amounted to $X per ton, surging by 103% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to New Zealand ($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 the United States (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Starch Imports

Imports into Australia

In 2021, overseas purchases of maize (corn) starch decreased by -20.9% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a temperate increase. The pace of growth appeared the most rapid in 2019 with an increase of 103% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, maize starch imports fell to $X in 2021. Over the period under review, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 75% against the previous year. Imports peaked at $X in 2020, and then dropped in the following year.

Imports by Country

China (X tons), South Africa (X tons) and New Zealand (X tons) were the main suppliers of maize starch imports to Australia, with a combined 71% share of total imports. These countries were followed by Turkey, the United States, the Netherlands and Ukraine, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +71.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), New Zealand ($X) and the United States ($X) constituted the largest maize starch suppliers to Australia, with a combined 67% share of total imports. South Africa, Turkey, the Netherlands and Ukraine lagged somewhat behind, together comprising a further 27%.

Turkey, with a CAGR of +87.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average maize starch import price stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2020 an increase of 27% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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