Ukraine: Maize Starch Market 2024

Maize Starch Market Size in Ukraine

The Ukrainian maize starch market expanded to $X in 2021, increasing by 4.1% against the previous year. In general, consumption recorded a strong expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Maize Starch Production in Ukraine

In value terms, maize starch production rose to $X in 2021 estimated in export price. Overall, production continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 38% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Maize Starch Exports

Exports from Ukraine

Maize starch exports from Ukraine rose markedly to X tons in 2021, increasing by 5.6% compared with 2020 figures. In general, exports posted a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 95%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, maize starch exports soared to $X in 2021. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 95% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Nigeria (X tons), China (X tons) and Indonesia (X tons) were the main destinations of maize starch exports from Ukraine, together accounting for 35% of total exports. Thailand, Malaysia, the United Arab Emirates, Malta, Poland, Ecuador, Taiwan (Chinese), Slovakia, Senegal and Pakistan lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +638.8%), while the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), China ($X) and Thailand ($X) were the largest markets for maize starch exported from Ukraine worldwide, together accounting for 36% of total exports.

Thailand, with a CAGR of +671.7%, recorded the highest rates of growth with regard to the value of exports, among 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

The average maize starch export price stood at $X per ton in 2021, surging by 29% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Starch Imports

Imports into Ukraine

Maize starch imports into Ukraine fell to X tons in 2021, shrinking by -14.3% against the previous year's figure. Overall, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 464% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, maize starch imports shrank modestly to $X in 2021. In general, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 231%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest maize starch supplier to Ukraine, accounting for a 62% share of total imports. Moreover, maize starch imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Romania (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-3.3% per year) and Romania (+37.6% per year).

In value terms, Germany ($X) constituted the largest supplier of maize (corn) starch to Ukraine, comprising 71% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by the United States, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-5.4% per year) and the United States (+34.7% per year).

Import Prices by Country

In 2021, the average maize starch import price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the import price continues to indicate a resilient increase. The growth pace was the most rapid in 2019 an increase of 241% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :