Eastern Europe: Maize Starch Market 2024

Maize Starch Market Size in Eastern Europe

The East European maize starch market was estimated at $X in 2021, growing by 2% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +52.9% against 2015 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Maize Starch Production in Eastern Europe

In value terms, maize starch production stood at $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 -0.4% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 30% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Maize Starch Exports

Exports in Eastern Europe

In 2021, approx. X tons of maize (corn) starch were exported in Eastern Europe; with an increase of 11% on the previous year's figure. In general, exports recorded a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 33% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, maize starch exports skyrocketed to $X in 2021. Overall, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Ukraine (X tons), distantly followed by Russia (X tons), Bulgaria (X tons), Hungary (X tons), Slovakia (X tons) and Romania (X tons) were the main exporters of maize (corn) starch, together achieving 97% of total exports. The Czech Republic (X tons) held a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +46.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) remains the largest maize starch supplier in Eastern Europe, comprising 33% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 15% share of total exports. It was followed by Russia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Ukraine stood at +14.7%. In the other countries, the average annual rates were as follows: Bulgaria (+5.2% per year) and Russia (+19.2% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, with an increase of 19% against the previous year. Overall, the export price, however, continues to indicate a pronounced slump. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.1%), while the other leaders experienced a decline in the export price figures.

Maize Starch Imports

Imports in Eastern Europe

In 2021, imports of maize (corn) starch in Eastern Europe contracted slightly to X tons, standing approx. at the previous year's figure. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 30% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, maize starch imports amounted to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 15%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Poland represented the major importing country with an import of about X tons, which resulted at 38% of total imports. The Czech Republic (X tons) ranks second in terms of the total imports with a 19% share, followed by Slovakia (12%), Belarus (9.1%) and Romania (8.6%). The following importers - Bulgaria (X tons) and Russia (X tons) - each finished at an 8.3% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to maize starch imports into Poland stood at +1.1%. At the same time, Slovakia (+11.1%), Belarus (+10.0%), Romania (+10.0%), the Czech Republic (+5.4%) and Bulgaria (+5.1%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +11.1% from 2012-2021. By contrast, Russia (-14.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Slovakia, the Czech Republic, Belarus and Romania increased by +6.3, +5, +4.5 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported maize (corn) starch in Eastern Europe, comprising 38% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 17% share of total imports. It was followed by Russia, with a 9.3% share.

In Poland, maize starch imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Czech Republic (+3.6% per year) and Russia (-6.5% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the import price, however, continues to indicate a mild setback. The pace of growth was the most pronounced in 2018 an increase of 15%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 Russia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+9.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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