India: Maize Starch Market 2024

Maize Starch Market Size in India

The Indian maize starch market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption enjoyed a buoyant increase. Maize starch consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Maize Starch Production in India

In value terms, maize starch production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Maize Starch Exports

Exports from India

In 2022, overseas shipments of maize (corn) starch decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell in the following year.

In value terms, maize starch exports soared to $X in 2022. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for maize starch exports from India, with a X% share of total exports. Moreover, maize starch exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the United Arab Emirates (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for maize (corn) starch exports from India, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average maize starch export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Nigeria ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Indonesia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Starch Imports

Imports into India

In 2022, the amount of maize (corn) starch imported into India rose slightly to X tons, growing by X% on 2021. Overall, imports posted resilient growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, maize starch imports rose sharply to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of maize starch to India, accounting for a X% share of total imports. Moreover, maize starch imports from Belgium exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and France (X% per year).

In value terms, the United States ($X), Belgium ($X) and France ($X) were the largest maize starch suppliers to India, together accounting for X% of total imports.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 2022, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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