Maize starch market in MERCOSUR

Earlier Report Observations

From 2018 to 2021, the maize starch market in MERCOSUR saw its volume grow from 1 117 thousand tons to 1 180 thousand tons. This expansion was fueled by abundant corn supplies and low starch prices, which encouraged industrial demand from food, textile, and pharmaceutical sectors. The COVID-19 pandemic in 2020 temporarily disrupted supply chains, reducing the market to 1 112 thousand tons, but demand for processed foods remained resilient. By 2021, the market recovered, aided by the entry of new producers, capacity expansions, and the launch of improved products like non-GMO starches.

In 2022, despite a slight drop in physical volume to 1 141 thousand tons, the market's value rose to $618.4 million due to higher prices driven by global logistics disruptions and increased demand for starch in bioplastics and pharmaceuticals. By 2023, volume fell further to 1 011 thousand tons, while value stayed relatively high at $600.8 million, reflecting ongoing corn price volatility and continued investments in modernizing production facilities for greater efficiency.

Production maize starch in MERCOSUR

In kind, 2017-2020, K t

Top producers of maize starch, 2017-2020

World map of production of maize starch, 2017-2020

Following two consecutive years of growth, maize starch production in MERCOSUR experienced a decline. In 2019, production reached its peak at 1 236 K t, but by 2020 it had decreased to 1 220 K t, representing a 1.3% drop. Over the 2017-2020 period, overall production increased by 5.7%, with an average annual growth rate of 1.9%. The most significant year-on-year increase occurred in 2019, when production rose by 5.5%.

Annual dynamics of production in MERCOSUR in kind, 2017-2020, K t

In value, 2017-2020, M $ US

In 2020, the value of maize starch output in MERCOSUR reached 442.3 M $ US, showing a modest 2.1% increase compared to 2019. The lowest value was recorded in 2019 at 433.3 M $ US, while the highest came in 2018 at 468.9 M $ US. The most substantial decline occurred in 2019, when the value fell by 7.6%, whereas the largest increase was in 2018 with an 8.0% rise.

Annual dynamics of production in MERCOSUR in value, 2017-2020, M $ US

Exports maize starch from MERCOSUR

Exports in kind, K t

Maize starch exports from MERCOSUR grew for the second year in a row. In 2020, the region exported 117.8 K t, marking a 23.8% increase from the previous year. Over the 2017-2020 period, exports expanded by 35.4%, with an average annual growth rate of 10.6%. The lowest export volume was in 2018 at 66.1 K t, which represented a 24.0% decline from the prior year. The most significant increase occurred in 2019, with exports surging by 43.9%.

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

Between 2017 and 2020, MERCOSUR's maize starch exports were distributed across a wide range of markets. The top three destinations—Chile (31.1% of export volume), Bolivia (7.8%), and the Dominican Republic (6.0%)—collectively accounted for 44.9% of total exports. The remaining 55.1% was spread among numerous other countries, each with smaller but notable shares.

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

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

Exports in value, K $ US

For the second consecutive year, the value of maize starch exports from MERCOSUR increased. In 2020, exports amounted to 42 701 K $ US, up 28.0% from 2019. Over the 2017-2020 period, export value grew by 30.5%, with an average annual rate of 9.3%. The lowest value was recorded in 2018 at 26 477 K $ US, which marked a 19.1% decline from the previous year.

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

From 2017 to 2020, the value of maize starch exports from MERCOSUR was highly diversified geographically. The leading markets—Chile (31.2% of export value), Bolivia (8.5%), and the Dominican Republic (5.4%)—together represented 45.1% of total exports. The remaining 54.9% was distributed among a multitude of smaller trading partners.

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

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

Imports maize starch to MERCOSUR

Imports in kind, K t

In 2020, MERCOSUR imported 9.9 K t of maize starch, a 14.4% increase from the previous year. Over the 2017-2020 period, imports rose by 16.4%, equivalent to an average annual growth rate of 5.2%. The highest import volume was in 2018 at 12.6 K t, while the largest decline occurred in 2019 with a 31.0% drop. The most significant increase was in 2018, when imports grew by 47.4%.

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

Between 2017 and 2020, MERCOSUR's maize starch imports came from a broad base of suppliers. The top three sources—the United States (4.9% of import volume), France (2.2%), and Germany (1.3%)—collectively accounted for just 8.4% of total imports. The remaining 91.6% was shared among numerous other countries.

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

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

Imports in value, K $ US

In 2020, the value of maize starch imports into MERCOSUR reached 6 905 K $ US, a slight increase of 3.1% from the previous year. Over the 2017-2020 period, however, import value decreased by 12.6%, with an average annual decline of 4.4%. The lowest value was in 2019 at 6 700 K $ US, while the highest was in 2018 at 8 250 K $ US. The most substantial decline occurred in 2019 with an 18.8% drop, whereas the largest increase was in 2018 at 4.5%.

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

During 2017-2020, the value of maize starch imports into MERCOSUR was relatively evenly distributed among suppliers. The United States (14.3% of import value), France (3.1%), and Germany (1.7%) together represented only 19.1% of total imports, with the remaining 80.9% coming from a variety of other countries.

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

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