Corn Starch Prices Trend and Forecast

North America

Overall, Corn Starch prices in North America were higher than they had been the previous quarter. Stockpiles of domestic corn starch in the US remained low as Q4 2022 approached, and demand for the product increased as the temperature dropped. The market's total supply was constrained. The commodity's domestic market price increased further, supported by demand, rising to USD 615/MT, a gain of 5.1% from the month's beginning. By the end of the year, the price of raw materials, namely corn, had continued to decrease due to efficient stock replenishment in December during harvest season and cautious purchasing on the part of downstream trade organizations. As a result of the reduction of many drawbacks, the market price of corn starch kept declining. On December 30, the average price decreased to USD 608/MT, a decrease of 1.1% from December 1.

Asia- Pacific

Prices of Corn Starch varied throughout the fourth quarter. As a result of cost transmission in some parts of the corn starch market in October, which was aided by the continued high price of corn and the small decrease in domestic corn starch inventories, the market's total price for corn starch ran slightly higher. The cost of raw materials was extremely high during November 2022, which was the main cost factor in the production of corn starch. Corn starch demand has increased since inventories were low and market supply was tight. The December price of corn starch was USD 460/MT, a reduction of 2.1%. With the gradual restoration of transportation capacity, import raw material Corn prices somewhat fell, and downstream Corn starch purchases were more cautious. Many negative factors forced certain corn starch makers to lower their prices in response to the corn price.

Europe

In the German domestic markets, Corn Starch producers changed their pricing plans for deliveries in the fourth quarter of 2022. Corn Starch prices traded in November 2022 were more on the upward side compared to October 2022. In the German starch market, the situation turned from oversupply to shortage within a very short time. As per trade sources, the demand from end-user pharmaceutical and food industries had started to increase due to the old stocks getting exhausted and due to clear weather; the moisture content in Corn Starch had also started to reach its optimum level. However, Corn Starch prices were traded at a fairly firm price throughout December as there was less supply to the markets due to a shortage of feedstock inventories. Thus, prices increased to USD 1150/MT in December from USD 1015/MT in October, a gain of 15.4% from the quarter's beginning.

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