Russian Federation: Maize Starch Market 2024

Maize Starch Market Size in the Russian Federation

In 2021, the Russian maize starch market increased by 6.7% to $X, rising for the fourth year in a row after four years of decline. Over the period under review, the total consumption indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% 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 +131.4% against 2017 indices. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Maize Starch Production in the Russian Federation

In value terms, maize starch production shrank modestly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 66%. Over the period under review, production attained the maximum level at $X in 2020, and then fell modestly in the following year.

Maize Starch Exports

Exports from the Russian Federation

In 2021, exports of maize (corn) starch from Russia surged to X tons, growing by 87% compared with 2020. In general, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize starch exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Uzbekistan (X tons), Belarus (X tons) and Kazakhstan (X tons) were the main destinations of maize starch exports from Russia, with a combined 56% share of total exports. Ecuador, Azerbaijan, Kyrgyzstan, Ghana, Turkmenistan, Armenia, Cote d'Ivoire, Ukraine, Lebanon and Senegal lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Azerbaijan (with a CAGR of +103.3%), while the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Belarus ($X) and Kazakhstan ($X) appeared to be the largest markets for maize starch exported from Russia worldwide, with a combined 51% share of total exports. These countries were followed by Ecuador, Azerbaijan, Kyrgyzstan, Ghana, Cote d'Ivoire, Ukraine, Turkmenistan, Armenia, Lebanon and Senegal, which together accounted for a further 36%.

In terms of the main countries of destination, Azerbaijan, with a CAGR of +69.9%, saw the highest growth rate of the value of exports, 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, picking up by 12% against the previous year. In general, the export price, however, continues to indicate a perceptible decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+0.7%), while the prices for the other major destinations experienced a decline.

Maize Starch Imports

Imports into the Russian Federation

In 2021, imports of maize (corn) starch into Russia rose notably to X tons, with an increase of 13% on 2020 figures. In general, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, maize starch imports stood at $X in 2021. Overall, imports, however, saw a deep downturn. The growth pace was the most rapid in 2019 when imports increased by 19% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main suppliers of maize starch imports to Russia, together accounting for 72% of total imports. The Netherlands, Kazakhstan, the United States and Austria lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +490.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of maize (corn) starch to Russia, comprising 45% of total imports. The second position in the ranking was held by Italy ($X), with an 18% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+46.2% per year) and France (+13.6% per year).

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, falling by -3.2% against the previous year. In general, the import price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 79% against the previous year. The import price peaked at $X per ton in 2020, and then dropped slightly in the following year.

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 ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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