Central Asia: Maize Starch Market 2024

Maize Starch Market Size in Central Asia

In 2021, the Central Asian maize starch market decreased by -4.5% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption showed a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Maize Starch Production in Central Asia

In value terms, maize starch production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 435%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Maize Starch Exports

Exports in Central Asia

In 2021, approx. X tons of maize (corn) starch were exported in Central Asia; with an increase of 14% against 2020. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 883%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, maize starch exports surged to $X in 2021. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 728% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

Kazakhstan prevails in exports structure, recording X tons, which was near 94% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), comprising a 5.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to maize starch exports from Kazakhstan stood at +25.0%. At the same time, Uzbekistan (+686.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +686.4% from 2012-2021. While the share of Uzbekistan (+5.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kazakhstan (-5.8 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest maize starch supplier in Central Asia, comprising 94% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 5.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Kazakhstan amounted to +23.8%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, with an increase of 44% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (-0.9%).

Maize Starch Imports

Imports in Central Asia

Maize starch imports surged to X tons in 2021, picking up by 18% against the year before. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 429%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, maize starch imports soared to $X in 2021. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 350%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

Uzbekistan represented the largest importing country with an import of about X tons, which recorded 46% of total imports. Kazakhstan (X tons) ranks second in terms of the total imports with a 24% share, followed by Kyrgyzstan (12%), Tajikistan (8.2%) and Turkmenistan (6.2%). Mongolia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mongolia (with a CAGR of +38.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X) constitutes the largest market for imported maize (corn) starch in Central Asia, comprising 57% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 19% share of total imports. It was followed by Kyrgyzstan, with an 8.4% share.

In Uzbekistan, maize starch imports expanded at an average annual rate of +24.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kazakhstan (+9.9% per year) and Kyrgyzstan (-2.4% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, growing by 30% against the previous year. Over the period under review, the import price, however, saw a perceptible decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+12.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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