Starches market in ECOWAS

Earlier Report Observations

The starch market in ECOWAS expanded significantly from 792 thousand tons in 2018 to 1 493 thousand tons in 2021. This growth was particularly pronounced in 2021, when rising demand from the pharmaceutical and chemical industries for starch-based applications boosted overall consumption.

Following the peak, the market volume stabilized at around 1 500 thousand tons in 2022 and saw a slight contraction to 1 494 thousand tons in 2023. This plateau and subsequent minor decline reflected broader economic pressures, including inflation that dampened demand, coupled with reduced consumption in several key segments such as confectionery and pet food.

Production starches in ECOWAS

In kind, 2017-2020, K t

Top producers of starches, 2017-2020

World map of production of starches, 2017-2020

Starch production in ECOWAS has grown for the third year in a row. In 2020, the region produced 835.5 K t of starches, marking a 5.6% increase from the previous year. Looking at the period from 2017 to 2020, production rose by 36.8%, which translates to an average annual growth rate of 11.0%.

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

Exports starches from ECOWAS

Exports in kind, K t

The data shows irregular changes, pointing to a volatile market environment. Exports hit their lowest point in 2019 at 0.5 K t, then surged to a peak of 7.1 K t in 2018, creating a 15-fold gap between these years. In 2020, starch volumes leaving ECOWAS totaled 1.9 K t, representing a sharp increase of 312.0% compared to 2019. The largest decline occurred in 2019, with a drop of 93.3%.

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

From 2017 to 2020, starch exports from ECOWAS were not heavily concentrated on a few key destinations. Morocco accounted for 15.2% of exports in kind, Australia for 3.4%, and China for 3.2%. Together, these three countries made up only 21.9% of total export flows.

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

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

Exports in value, K $ US

Market performance showed noticeable fluctuations during this period. Exports reached their lowest point in 2019 at 531 K $ US, then varied by three times from this low to the high in 2017. In 2020, ECOWAS exported 1 360 K $ US of starches, reflecting a steep improvement of 156.3% year-over-year. The largest decline was recorded in 2019, with a decrease of 59.6%.

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

Between 2017 and 2020, Morocco, the United States, and China were the largest buyers of starches from ECOWAS in value terms, with shares of 16.6%, 8.4%, and 8.0% respectively. However, their combined contribution was limited to 33.0% of total exports in value, indicating a diversified country structure.

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

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

Imports starches to ECOWAS

Imports in kind, K t

Starch imports into ECOWAS have increased for the second consecutive year. In 2020, the region imported approximately 142.5 K t of starches, showing an uptick of 33.4% compared to the prior year. From 2017 to 2020, imports grew by 58.2%, equating to an annualized rate of 16.5%. The minimum value was recorded in 2018 at 70.0 K t, with the largest decline that year of 22.3%. The largest increase occurred in 2019, with a rise of 52.7%.

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

From 2017 to 2020, Turkey, China, and India were the main sources in the geographical breakdown of starch imports into ECOWAS in kind. Turkey accounted for 44.7% of imports, China for 14.2%, and India for 6.4%. Together, these three countries held a combined share of 65.2% of total import flows.

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

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

Imports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Imports hit their lowest point in 2018 at 33 017 K $ US, then varied by 2.5 times from this low to the high in 2020. In 2020, ECOWAS's volume of starch imports amounted to 82 871 K $ US, reflecting a sharp uptick of 76.5% year-over-year. The largest decline was recorded in 2018, with a decrease of 25.3%.

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

Throughout 2017 to 2020, Turkey, China, and India played leading roles in starch imports into ECOWAS in value terms. Turkey accounted for 43.9% of imports, China for 19.9%, and India for 6.9%. Jointly, these three countries took 70.8% of total import flows.

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

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