Ghana: Maize Starch Market 2025

Maize Starch Market Size in Ghana

The Ghanian maize starch market dropped to $X in 2021, with a decrease of -9.4% against the previous year. In general, consumption, however, recorded a strong increase. Maize starch consumption peaked at $X in 2020, and then reduced in the following year.

Maize Starch Production in Ghana

In value terms, maize starch production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, showed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 102%. Maize starch production peaked at $X in 2020, and then fell in the following year.

Maize Starch Exports

Exports from Ghana

In 2021, approx. X tons of maize (corn) starch were exported from Ghana; shrinking by -58.6% on the previous year's figure. Overall, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2016 with an increase of 443%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, maize starch exports declined significantly to $X in 2021. Over the period under review, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by 207%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons), Belgium (X tons) and Ireland (X tons) were the main destinations of maize starch exports from Ghana, together accounting for 43% of total exports. These countries were followed by the United States, Germany, Qatar, Canada, the Netherlands and Italy, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +71.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Belgium ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for maize starch exported from Ghana worldwide, together accounting for 41% of total exports. These countries were followed by Qatar, Germany, Ireland, Canada, the Netherlands and Italy, which together accounted for a further 9.8%.

Qatar, with a CAGR of +65.9%, 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 mixed trend patterns.

Export Prices by Country

The average maize starch export price stood at $X per ton in 2021, surging by 50% against the previous year. Overall, the export price continues to indicate tangible growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 79%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

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 Italy ($X per ton), while the average price for exports to Ireland ($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 Belgium (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Starch Imports

Imports into Ghana

In 2021, after two years of growth, there was decline in purchases abroad of maize (corn) starch, when their volume decreased by -0.7% to X tons. In general, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 75% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then declined modestly in the following year.

In value terms, maize starch imports surged to $X in 2021. Overall, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

India (X tons), Turkey (X tons) and Russia (X tons) were the main suppliers of maize starch imports to Ghana, together accounting for 75% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +47.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Turkey ($X) and Russia ($X) constituted the largest maize starch suppliers to Ghana, with a combined 68% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +50.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, growing by 32% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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