Sharp decline in Southeast Asian demand for corn starch from Ukraine

UkrAgroConsult

7.1 KMT of Ukrainian corn starch was exported in December (+54% from November, -30% from December 2020/21). 19.3 KMT had been exported since the beginning of the season (+6% y-o-y), UkrAgroConsult reports.

Currently, the top buyers of Ukrainian corn starch are China and the EU, whose combined share in total exports of the Ukrainian product is about 40%.

Last season’s biggest importer – Indonesia – substantially reduced corn starch purchases from Ukraine (-91% y-o-y).

Apart from Indonesia, Malaysia also slashed imports of Ukrainian corn starch.

The following importers stepped up purchases compared to the same period last year: the EU and Thailand (more than doubled), China (+85%), Taiwan (+55%).

Last year, Nigeria and Thailand started importing Ukrainian corn starch from April. In MY 2021/22, they had already purchased a combined over 5 KMT by January.

More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea Grain” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!

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Tags: Ecuador, Ukraine, China, Indonesia, EU, Thailand, Malaysia, Taiwan, corn starch, Nigeria