Brazil: Maize Starch Market 2024

Maize Starch Market Size in Brazil

The Brazilian maize starch market rose slightly to $X in 2021, increasing by 2.5% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.8% against 2019 indices. Maize starch consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Maize Starch Production in Brazil

In value terms, maize starch production amounted to $X in 2021 estimated in export price. In general, production recorded strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 36%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Maize Starch Exports

Exports from Brazil

After two years of growth, overseas shipments of maize (corn) starch decreased by -9.8% to X tons in 2021. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2015 with an increase of 270%. Over the period under review, the exports hit record highs at X tons in 2020, and then declined in the following year.

In value terms, maize starch exports totaled $X in 2021. Overall, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2015 when exports increased by 177%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The Dominican Republic (X tons), Colombia (X tons) and Mexico (X tons) were the main destinations of maize starch exports from Brazil, together comprising 32% of total exports. These countries were followed by Guatemala, Bolivia, Costa Rica, the United States, Honduras, Panama, Nigeria, South Africa and South Korea, which together accounted for a further 49%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +9,593.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Colombia ($X) and the Dominican Republic ($X) constituted the largest markets for maize starch exported from Brazil worldwide, with a combined 33% share of total exports. These countries were followed by Bolivia, Guatemala, Mexico, South Korea, Costa Rica, Honduras, Panama, Nigeria and South Africa, which together accounted for a further 47%.

South Korea, with a CAGR of +7,705.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 27% against the previous year. Overall, the export price, however, showed a pronounced downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Costa Rica ($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 Guatemala (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Starch Imports

Imports into Brazil

In 2021, the amount of maize (corn) starch imported into Brazil shrank rapidly to X tons, dropping by -60% compared with the year before. Over the period under review, imports continue to indicate a sharp decline. The pace of growth appeared the most rapid in 2013 when imports increased by 95%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, maize starch imports dropped sharply to $X in 2021. In general, imports showed a deep slump. The pace of growth appeared the most rapid in 2013 when imports increased by 81%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), Paraguay (X tons) and France (X tons) were the main suppliers of maize starch imports to Brazil, with a combined 89% share of total imports. Ukraine, the Netherlands and South Africa lagged somewhat behind, together comprising a further 10%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of +99.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of maize (corn) starch to Brazil, comprising 62% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by Paraguay, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.9% per year) and Paraguay (-31.8% per year).

Import Prices by Country

The average maize starch import price stood at $X per ton in 2021, surging by 90% against the previous year. In general, the import price enjoyed a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :