Maize starch market in Colombia

Earlier Report Observations

The Colombian maize starch market volume grew consistently from 34 124 t in 2018 to 64 367 t in 2022, an increase of nearly 90%. This expansion was primarily fueled by a 50 000-hectare increase in white corn planting areas supported by national development policies, which boosted raw material availability for starch production. Concurrently, low speculative prices for corn farmers in 2019 and rising demand from the poultry and swine sectors for corn-based feed intensified the industrial use of corn, further stimulating starch output.

Market volume then declined to 55 739 t in 2023. This contraction coincided with the full implementation of front-of-pack food labeling rules enacted in 2022, which required warning seals on products high in sodium, sugars, and fats. The regulation prompted manufacturers to reformulate starch-containing products, likely reducing consumer demand. Additionally, the industry saw the emergence of cassava starch as an alternative raw material, driven by dependence on international corn price volatility, though this diversification did not offset the overall market decrease.

Production maize starch in Colombia

In kind, 2017-2020, t

Top producers of maize starch, 2017-2020

World map of production of maize starch, 2017-2020

Maize starch production in Colombia has increased for the third consecutive year. In 2020, Colombia produced 44 322 tonnes of maize starch, marking a 5.1% increase compared to the previous year. Between 2017 and 2020, production grew by 32.4%, which translates to an annualized growth rate of 9.8%.

Annual dynamics of production in Colombia in kind, 2017-2020, t

In value, 2017-2020, K $ US

Colombia's maize starch production has risen for the third year in a row. In 2020, the output was valued at 18 039 thousand US dollars, representing a 3.7% increase year-over-year. From 2017 to 2020, production increased by 30.8%, with a compound annual growth rate of 9.4%.

Annual dynamics of production in Colombia in value, 2017-2020, K $ US

Exports maize starch from Colombia

Exports in kind, t

After a two-year decline, Colombia's maize starch export volumes have increased. In 2020, exports reached 9 569 tonnes, showing a modest gain of 5.2% compared to 2019. Between 2017 and 2020, exports decreased by 42.8%, equating to an annualized decline of 17.0%. The lowest volume was recorded in 2019 at 9 099 tonnes, while the largest drop occurred in 2018 with a 43.6% decrease.

Annual dynamics of product's exports from Colombia in kind, 2017-2020, t

From 2017 to 2020, Ecuador was the primary buyer of maize starch from Colombia, accounting for 70.3% of total exports in volume. Other trading partners held relatively modest shares during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Colombia in kind, 2017-2020

Exports in value, K $ US

Following a two-year decline, maize starch exports from Colombia have increased. In 2020, exports totaled 3 895 thousand US dollars, up by 3.8% year-over-year. Over the period from 2017 to 2020, exports decreased by 43.5%, with a compound annual growth rate of -17.3%. The lowest value was recorded in 2019 at 3 753 thousand US dollars, and the largest decline occurred in 2018 with a 44.9% drop.

Annual dynamics of product's exports from Colombia in value, 2017-2020, K $ US

Between 2017 and 2020, Ecuador accounted for 70.0% of the total value of maize starch exports from Colombia. The remaining exports were distributed among multiple smaller partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Colombia in value, 2017-2020

Imports maize starch to Colombia

Imports in kind, t

Maize starch import volumes into Colombia have declined for the third consecutive year. In 2020, imports amounted to 5 719 tonnes, reflecting a 22.8% decrease compared to 2019. From 2017 to 2020, imports fell by 30.6%, with a compound annual decline of 11.4%.

Annual dynamics of product's imports to Colombia in kind, 2017-2020, t

Throughout 2017 to 2020, Brazil, the United States, and Turkey were the key suppliers of maize starch to Colombia in terms of volume. Brazil accounted for 38.7% of imports, the United States for 34.0%, and Turkey for 8.0%, collectively representing 80.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Colombia in kind, 2017-2020

Imports in value, K $ US

Maize starch import volumes into Colombia have declined for the second consecutive year. In 2020, imports totaled 2 845 thousand US dollars, representing a 22.3% fall from 2019. Over the period from 2017 to 2020, imports decreased by 29.3%, with a compound annual decline of 10.9%. The highest value was recorded in 2018 at 4 216 thousand US dollars, which also saw the largest increase of 4.7% that year.

Annual dynamics of product's imports to Colombia in value, 2017-2020, K $ US

From 2017 to 2020, Brazil, the United States, and France remained the main suppliers of maize starch to Colombia in value terms. Brazil contributed 38.6% of imports, the United States 32.2%, and France 10.2%, together forming 81.0% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Colombia in value, 2017-2020