Bangladesh: Maize Starch Market 2024

Maize Starch Market Size in Bangladesh

In 2021, the Bangladeshi maize starch market decreased by -8.4% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.9% against 2017 indices. Maize starch consumption peaked at $X in 2020, and then declined in the following year.

Maize Starch Production in Bangladesh

In value terms, maize starch production declined to $X in 2021 estimated in export price. In general, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +4.4% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 57% against the previous year. Maize starch production peaked at $X in 2020, and then shrank in the following year.

Maize Starch Exports

Exports from Bangladesh

In 2013, exports of maize (corn) starch from Bangladesh soared to X kg, surging by 58% on the previous year's figure. Over the period under review, total exports indicated significant growth from 2012 to 2013: its volume increased at an average annual rate of +58.2% over the last one-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize starch exports stood at $X in 2013. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure in 2013 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X kg) was the main destination for maize starch exports from Bangladesh, accounting for a approx. 100% share of total exports.

From 2012 to 2013, the average annual growth rate of volume to Germany was relatively modest.

In value terms, Germany ($X) emerged as the key foreign market for maize (corn) starch exports from Bangladesh.

From 2012 to 2013, the average annual rate of growth in terms of value to Germany was relatively modest.

Export Prices by Country

The average maize starch export price stood at $X per ton in 2013, which is down by -36.8% against the previous year. In general, the export price recorded a significant contraction. Over the period under review, the average export prices hit record highs at $X per ton in 2012, and then declined significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2012 to 2013, the rate of growth in terms of prices for South Korea amounted to 0.0% per year.

Maize Starch Imports

Imports into Bangladesh

In 2021, approx. X tons of maize (corn) starch were imported into Bangladesh; growing by 5.2% compared with 2020. Overall, imports showed a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 60% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, maize starch imports soared to $X in 2021. In general, total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.0% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 53%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of maize starch to Bangladesh, with a 55% share of total imports. Moreover, maize starch imports from India exceeded the figures recorded by the second-largest supplier, Pakistan (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at +46.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+3.5% per year) and South Korea (-9.7% per year).

In value terms, the largest maize starch suppliers to Bangladesh were India ($X), Pakistan ($X) and South Korea ($X), with a combined 82% share of total imports.

India, with a CAGR of +35.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, picking up by 13% against the previous year. Overall, the import price, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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