New Zealand: Maize Starch Market 2024

Maize Starch Market Size in New Zealand

The New Zealand maize starch market fell to $X in 2021, declining by -9.5% against the previous year. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +29.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Maize Starch Production in New Zealand

In value terms, maize starch production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 38%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Maize Starch Exports

Exports from New Zealand

In 2021, shipments abroad of maize (corn) starch decreased by -12.8% to X tons, falling for the second consecutive year after three years of growth. In general, total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -14.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 29%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, maize starch exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 24%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for maize starch exports from New Zealand, with a 74% share of total exports. Moreover, maize starch exports to Australia exceeded the volume sent to the second major destination, Thailand (X tons), fivefold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+28.5% per year) and Taiwan (Chinese) (+16.7% per year).

In value terms, Australia ($X) remains the key foreign market for maize (corn) starch exports from New Zealand, comprising 73% of total exports. The second position in the ranking was held by Thailand ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+28.6% per year) and Taiwan (Chinese) (+16.9% per year).

Export Prices by Country

The average maize starch export price stood at $X per ton in 2021, growing by 23% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Taiwan (Chinese) ($X per ton) and Thailand ($X per ton), while the average price for exports to Australia ($X per ton) and Fiji ($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 Taiwan (Chinese) (+0.2%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Starch Imports

Imports into New Zealand

In 2021, the amount of maize (corn) starch imported into New Zealand declined modestly to X tons, shrinking by -3.2% compared with the previous year. Overall, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2014 when imports increased by 89% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, maize starch imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 110%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of maize starch imports to New Zealand, together comprising 72% of total imports. Bulgaria, Thailand, Belgium, Turkey and Australia lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +144.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest maize starch suppliers to New Zealand, together comprising 78% of total imports. These countries were followed by Thailand, Australia, Belgium, Bulgaria and Turkey, which together accounted for a further 16%.

Among the main suppliers, Bulgaria, with a CAGR of +111.4%, 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

The average maize starch import price stood at $X per ton in 2021, jumping by 43% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :