Kuwait: Maize Starch Market 2024

Maize Starch Market Size in Kuwait

The Kuwaiti maize starch market rose remarkably to $X in 2021, surging by 14% against the previous year. Over the period under review, consumption continues to indicate significant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Maize Starch Production in Kuwait

In value terms, maize starch production surged to $X in 2021 estimated in export price. Overall, production posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 862% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Maize Starch Exports

Exports from Kuwait

In 2021, approx. X tons of maize (corn) starch were exported from Kuwait; waning by -49.8% compared with the previous year. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 447% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, maize starch exports declined dramatically to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 576% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons) and Iran (X tons) were the main destinations of maize starch exports from Kuwait.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +16.0%).

In value terms, Iran ($X) remains the key foreign market for maize (corn) starch exports from Kuwait, comprising 85% of total exports. The second position in the ranking was taken by India ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Iran stood at +10.8%.

Export Prices by Country

In 2021, the average maize starch export price amounted to $X per ton, with a decrease of -49.3% against the previous year. Over the period under review, the export price recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 76%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to India stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (-4.5%), while the prices for the other major destinations experienced a decline.

Maize Starch Imports

Imports into Kuwait

In 2021, purchases abroad of maize (corn) starch decreased by -5% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 107% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, maize starch imports shrank to $X in 2021. In general, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 138%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest supplier of maize starch to Kuwait, accounting for a 65% share of total imports. Moreover, maize starch imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia totaled +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+78.0% per year) and Germany (+56.1% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of maize (corn) starch to Kuwait, comprising 50% of total imports. The second position in the ranking was held by Germany ($X), with a 19% share of total imports. It was followed by Thailand, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia amounted to +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+59.6% per year) and Thailand (+69.1% per year).

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, approximately reflecting the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2015 when the average import price increased by 20% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :