MERCOSUR: Maize Starch Market 2024

Maize Starch Market Size in MERCOSUR

The MERCOSUR maize starch market reached $X in 2021, with an increase of 2.8% against the previous year. In general, consumption continues to indicate a prominent expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Maize Starch Production in MERCOSUR

In value terms, maize starch production amounted to $X in 2021 estimated in export price. Over the period under review, production posted resilient growth. The growth pace was the most rapid in 2014 with an increase of 35% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Maize Starch Exports

Exports in MERCOSUR

After two years of growth, shipments abroad of maize (corn) starch decreased by -23% to X tons in 2021. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 28% against the previous year. The volume of export peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, maize starch exports contracted slightly to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 23%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the largest exporting country with an export of about X tons, which accounted for 61% of total exports. Argentina (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Paraguay (11%) and Colombia (6.5%).

Brazil was also the fastest-growing in terms of the maize (corn) starch exports, with a CAGR of +21.4% from 2012 to 2021. Argentina (-5.3%), Colombia (-8.1%) and Paraguay (-9.7%) illustrated a downward trend over the same period. Brazil (+49 p.p.) significantly strengthened its position in terms of the total exports, while Colombia, Argentina and Paraguay saw its share reduced by -9.1%, -16.8% and -19.9% from 2012 to 2021, respectively.

In value terms, Brazil ($X) remains the largest maize starch supplier in MERCOSUR, comprising 63% of total exports. The second position in the ranking was held by Argentina ($X), with a 16% share of total exports. It was followed by Paraguay, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Brazil amounted to +18.9%. In the other countries, the average annual rates were as follows: Argentina (-8.3% per year) and Paraguay (-6.5% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, growing by 27% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Colombia ($X per ton) and Brazil ($X per ton), while Argentina ($X per ton) and Paraguay ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+3.6%), while the other leaders experienced a decline in the export price figures.

Maize Starch Imports

Imports in MERCOSUR

In 2021, the amount of maize (corn) starch imported in MERCOSUR was estimated at X tons, with an increase of 13% on the previous year. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 27%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, maize starch imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Chile was the key importing country with an import of about X tons, which finished at 54% of total imports. It was distantly followed by Colombia (X tons), Ecuador (X tons), Uruguay (X tons) and Peru (X tons), together generating a 40% share of total imports. The following importers - Brazil (X tons) and Paraguay (X tons) - each accounted for a 4.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to maize starch imports into Chile stood at +5.2%. At the same time, Paraguay (+6.9%), Ecuador (+6.3%) and Colombia (+3.6%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +6.9% from 2012-2021. Uruguay experienced a relatively flat trend pattern. By contrast, Peru (-6.2%) and Brazil (-23.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Ecuador and Colombia increased by +19, +5.2 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported maize (corn) starch in MERCOSUR, comprising 50% of total imports. The second position in the ranking was taken by Colombia ($X), with an 18% share of total imports. It was followed by Ecuador, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Chile amounted to +2.5%. In the other countries, the average annual rates were as follows: Colombia (+2.2% per year) and Ecuador (+2.8% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, increasing by 16% against the previous year. In general, the import price, however, saw a mild decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+9.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform