MENA: Maize Starch Market 2024

Maize Starch Market Size in MENA

The MENA's maize starch market skyrocketed to $X in 2021, growing by 19% against the previous year. In general, consumption enjoyed a prominent increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Maize Starch Production in MENA

In value terms, maize starch production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 71%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Maize Starch Exports

Exports in MENA

In 2021, overseas shipments of maize (corn) starch decreased by -1.7% to X tons, falling for the second year in a row after eight years of growth. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 87%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, maize starch exports soared to $X in 2021. Overall, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of 82% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Turkey represented the largest exporting country with an export of about X tons, which finished at 74% of total exports. It was distantly followed by Egypt (X tons), comprising a 22% share of total exports. Saudi Arabia (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to maize starch exports from Turkey stood at +27.2%. At the same time, Egypt (+43.0%) and Saudi Arabia (+1.6%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +43.0% from 2012-2021. From 2012 to 2021, the share of Turkey and Egypt increased by +19 and +16 percentage points, respectively.

In value terms, Turkey ($X) remains the largest maize starch supplier in MENA, comprising 67% of total exports. The second position in the ranking was held by Egypt ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +22.5%. In the other countries, the average annual rates were as follows: Egypt (+42.3% per year) and Saudi Arabia (+1.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, jumping by 17% against the previous year. Overall, the export price, however, continues to indicate a noticeable shrinkage. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.2%), while the other leaders experienced a decline in the export price figures.

Maize Starch Imports

Imports in MENA

In 2021, supplies from abroad of maize (corn) starch decreased by -13.8% to X tons, falling for the second year in a row after four years of growth. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.1% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 35%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, maize starch imports totaled $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.3% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 33% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), Iraq (X tons) and Syrian Arab Republic (X tons) represented roughly 50% of total imports in 2021. Tunisia (X tons) held a 5.5% share (based on physical terms) of total imports, which put it in second place, followed by Yemen (5.5%), Morocco (5.5%), Lebanon (4.7%) and Algeria (4.6%). The following importers - Saudi Arabia (X tons), Jordan (X tons), Oman (X tons), Kuwait (X tons) and Egypt (X tons) - together made up 17% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Syrian Arab Republic (with a CAGR of +23.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Iraq ($X) and Syrian Arab Republic ($X) were the countries with the highest levels of imports in 2021, with a combined 44% share of total imports.

In terms of the main importing countries, Syrian Arab Republic, with a CAGR of +21.8%, recorded 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 import price in MENA amounted to $X per ton, surging by 16% against the previous year. In general, the import price, however, continues to indicate a mild decrease. The level of import peaked at $X per ton in 2012; however, from 2013 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 Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform