Middle East: Maize Starch Market 2024

Maize Starch Market Size in the Middle East

The Middle Eastern maize starch market declined to $X in 2022, which is down by X% against the previous year. In general, consumption, however, posted a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Maize Starch Production in the Middle East

In value terms, maize starch production reduced dramatically to $X in 2022 estimated in export price. Overall, production, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Maize Starch Exports

Exports in the Middle East

In 2022, the amount of maize (corn) starch exported in the Middle East reduced to X tons, which is down by X% compared with the previous year. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, maize starch exports skyrocketed to $X in 2022. Overall, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), making up a X% share of total exports.

Turkey was also the fastest-growing in terms of the maize (corn) starch exports, with a CAGR of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. From 2012 to 2022, the share of Turkey increased by X percentage points.

In value terms, Turkey ($X) remains the largest maize starch supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at X%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by X% against the previous year. Export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize starch export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Maize Starch Imports

Imports in the Middle East

In 2022, purchases abroad of maize (corn) starch decreased by X% to X tons, falling for the third consecutive year after eight years of growth. In general, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, maize starch imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates was the major importer of maize (corn) starch in the Middle East, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Iraq (X tons), Syrian Arab Republic (X tons), Kuwait (X tons), Jordan (X tons), Yemen (X tons) and Lebanon (X tons), together creating a X% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Syrian Arab Republic (X%), Iraq (X%), Kuwait (X%), Lebanon (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Yemen experienced a relatively flat trend pattern. From 2012 to 2022, the share of Syrian Arab Republic, Kuwait, the United Arab Emirates and Iraq increased by X, X, X and X percentage points, respectively.

In value terms, the largest maize starch importing markets in the Middle East were the United Arab Emirates ($X), Syrian Arab Republic ($X) and Iraq ($X), together accounting for X% of total imports.

Syrian Arab Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, maize starch import price increased by X% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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