Maize starch market in Uruguay

Earlier Report Observations

The maize starch market in Uruguay expanded from 2018 to 2020, with production rising by over 25% to reach 13 400 t. This growth was supported by an increase in the area planted with corn, which provided more raw material for starch extraction. The presence of multinational players like Ingredion with regional plants also contributed to industrial capacity and market activity during this phase.

After peaking in 2020, the market entered a sustained decline in both volume and value. The mandatory front-of-pack warning labeling for packaged foods, which officially came into force in February 2021, altered consumer purchasing behavior and likely reduced demand for products containing maize starch in certain categories. Simultaneously, the local industry faced structural challenges, including temporary plant closures due to high production costs, logistical issues, and unfavorable exchange rates, which drove down the market's value. A continued reduction in corn planting area further limited the supply of raw material, contributing to a drop in production to 9 621 t by 2023.

The COVID-19 pandemic introduced supply chain disruptions and raw material volatility, while ongoing regulatory adjustments and competitive regional dynamics continued to shape the market's trajectory throughout the period.

Production maize starch in Uruguay

In kind, 2017-2020, t

Top producers of maize starch, 2017-2020

World map of production of maize starch, 2017-2020

Uruguay's maize starch production has increased for the third consecutive year. In 2020, the country produced 13,400 tons of maize starch, marking a 4.2% increase from the previous year. Over the period from 2017 to 2020, production grew by 29.1%, with an average annual growth rate of 8.9%.

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

Exports maize starch from Uruguay

Exports in kind, t

The data shows irregular changes, reflecting a volatile market environment. From 2017 to 2019, exports experienced a peak-to-trough amplitude of 2.7 times. In 2020, Uruguay exported 5 tons of maize starch, down by 28.2% from 2019. The maximum value was recorded in 2019 at 8 tons, with the largest increase that year reaching 165.2%.

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

From 2017 to 2020, Free Zones were the primary buyers of maize starch from Uruguay, accounting for 83.1% of total exports in kind, while other partners held relatively modest shares.

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

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

Exports in value, K $ US

Volatility characterized the market behavior during these years. Exports peaked in 2019 and reached their lowest point in 2018, with a 2.3-fold difference between these years. In 2020, Uruguay exported $8,000 US of maize starch, representing a decrease of 48.1% compared to the previous year. The minimum value was recorded in 2018 at $6,000 US, while the maximum was in 2019 at $15,000 US. The largest increase occurred in 2019, reaching 133.4%.

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

From 2017 to 2020, Free Zones concentrated 79.3% of total exports in value terms for maize starch from Uruguay, with the remaining flows distributed among multiple smaller partners.

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

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

Imports maize starch to Uruguay

Imports in kind, t

Maize starch imports into Uruguay have increased for the third consecutive year. In 2020, imports totaled 6,812 tons, up by 5.6% compared to 2019. Between 2017 and 2020, imports grew by 8.5%, equating to an annualized rate of 2.8%.

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

From 2017 to 2020, Argentina and Brazil continued to lead as the main markets for imports in kind, together accounting for 82.8% of total flows, while other partners played a supplementary role.

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

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

Imports in value, K $ US

Uruguay's maize starch imports have increased for the second consecutive year. In 2020, imports amounted to $2,715,000 US, marking a gain of 0.6% compared to 2019. Between 2017 and 2020, imports decreased by 5.5%, equating to an annualized rate of 1.9%. The minimum value was recorded in 2018 at $2,599,000 US, with the largest decline that year at 9.5%. The largest increase occurred in 2019, reaching 3.8%.

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

Throughout 2017 to 2020, Argentina and Brazil were the core markets for imports in value terms, jointly accounting for 83.2% of total flows, whereas other destinations had comparatively modest shares.

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

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