Egypt: Maize Starch Market 2024

Maize Starch Market Size in Egypt

The Egyptian maize starch market expanded slightly to $X in 2021, surging by 3.6% against the previous year. Overall, consumption saw buoyant growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Maize Starch Production in Egypt

In value terms, maize starch production reached $X in 2021 estimated in export price. In general, production posted a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 51%. 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 Egypt

In 2021, approx. X tons of maize (corn) starch were exported from Egypt; surging by 8.9% against the previous year. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 229% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, maize starch exports surged to $X in 2021. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 186%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

Syrian Arab Republic (X tons), Kenya (X tons) and Nigeria (X tons) were the main destinations of maize starch exports from Egypt, with a combined 53% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +190.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for maize starch exported from Egypt were Syrian Arab Republic ($X), Kenya ($X) and Nigeria ($X), together accounting for 53% of total exports.

In terms of the main countries of destination, Nigeria, with a CAGR of +241.5%, 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, with an increase of 22% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 70% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Lebanon ($X per ton) and Sudan ($X per ton), while the average price for exports to Kenya ($X per ton) and Syrian Arab Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Starch Imports

Imports into Egypt

In 2021, supplies from abroad of maize (corn) starch decreased by -22.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 117%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, maize starch imports declined markedly to $X in 2021. Over the period under review, imports saw a mild decrease. The most prominent rate of growth was recorded in 2014 with an increase of 66% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest maize starch supplier to Egypt, accounting for a 44% share of total imports. Moreover, maize starch imports from Turkey exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +21.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+15.0% per year) and Saudi Arabia (+43.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of maize (corn) starch to Egypt, comprising 44% of total imports. The second position in the ranking was taken by Bulgaria ($X), with a 22% share of total imports. It was followed by Saudi Arabia, with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+14.7% per year) and Saudi Arabia (+168.1% per year).

Import Prices by Country

The average maize starch import price stood at $X per ton in 2021, rising by 7.8% against the previous year. Over the period under review, the import price, however, showed a slight downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 122%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and Saudi Arabia ($X per ton), while the price for Bulgaria ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+86.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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