Pakistan: Maize Starch Market 2024

Maize Starch Market Size in Pakistan

In 2021, after three years of growth, there was significant decline in the Pakistani maize starch market, when its value decreased by -17.3% to $X. In general, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 +58.0% against 2017 indices. As a result, consumption attained the peak level of $X, and then declined rapidly in the following year.

Maize Starch Production in Pakistan

In value terms, maize starch production reduced to $X in 2021 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +61.1% against 2017 indices. The pace of growth was the most pronounced in 2020 with an increase of 43% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Maize Starch Exports

Exports from Pakistan

In 2021, the amount of maize (corn) starch exported from Pakistan skyrocketed to X tons, increasing by 30% against the previous year. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 57%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, maize starch exports soared to $X in 2021. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 87% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Kenya (X tons), the United Arab Emirates (X tons) and Afghanistan (X tons) were the main destinations of maize starch exports from Pakistan, with a combined 61% share of total exports. These countries were followed by Oman, Bangladesh, Qatar, Sri Lanka and Yemen, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +368.3%), while the other leaders experienced more modest paces of growth.

In value terms, Kenya ($X), the United Arab Emirates ($X) and Bangladesh ($X) appeared to be the largest markets for maize starch exported from Pakistan worldwide, with a combined 60% share of total exports. Afghanistan, Oman, Qatar, Sri Lanka and Yemen lagged somewhat behind, together accounting for a further 32%.

Oman, with a CAGR of +259.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average maize starch export price amounted to $X per ton, growing by 3.3% against the previous year. Overall, the export price, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2013 when the average export price increased by 19% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Bangladesh ($X per ton) and Yemen ($X per ton), while the average price for exports to Oman ($X per ton) and the United Arab Emirates ($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 Qatar (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Starch Imports

Imports into Pakistan

In 2021, purchases abroad of maize (corn) starch decreased by -16.6% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 195% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, maize starch imports rose rapidly to $X in 2021. Overall, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 244%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Ukraine (X tons), Egypt (X tons) and Turkey (X tons) were the main suppliers of maize starch imports to Pakistan, with a combined 88% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +117.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) constituted the largest supplier of maize (corn) starch to Pakistan, comprising 58% of total imports. The second position in the ranking was taken by Egypt ($X), with a 21% share of total imports. It was followed by Turkey, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine totaled +140.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+0.9% per year) and Turkey (-26.0% per year).

Import Prices by Country

The average maize starch import price stood at $X per ton in 2021, with an increase of 31% against the previous year. Over the period under review, the import price, however, showed a pronounced contraction. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat 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 France ($X per ton), while the price for India ($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 (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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