For the Quarter Ending June 2025
North America
• Corn Starch Price Index in the United States showed a downward movement in July 2025 after consecutive monthly increases, reversing the bullish trend seen in May and June.
• Spot Price for Corn Starch FOB Los Angeles (USA) was recorded at USD 550/MT in June 2025; prices declined in July due to easing input costs and improved corn availability.
• Price Forecast for August 2025 suggests continued softening as upstream corn prices remain weak and restocking momentum slows across downstream segments.
• Production Cost Trend stabilized in July following a surge in June, as feedstock inflation cooled and energy costs moderated, reducing margin pressure on producers.
• Demand Outlook turned neutral to soft in July, with food and personal care sectors showing moderate offtake, while international orders stabilized, relieving strain on domestic inventory.
• Why did the price of Corn Starch change in July 2025? The price declined due to reduced cost pressures, stable production, and softening procurement activity amid improved inventory positions.
Europe
• Corn Starch Price Index in Europe (Germany) declined in July 2025, reversing the sharp rise observed in June.
• Spot Price for Corn Starch FOB Hamburg dropped to around USD 678, reflecting a 3.14% decline compared to June’s USD 700 level.
• Price Forecast for August 2025 suggests continued softness, with expectations of mild downward corrections due to slowing demand and stabilizing feedstock costs.
• Production Cost Trend showed signs of easing as maize prices moderated from their June highs, relieving cost pressures on German manufacturers.
• Demand Outlook weakened in July, with downstream sectors like pharmaceuticals and food exhibiting restrained procurement amid sufficient inventories and softer export orders.
• Why did the price of Corn Starch change in July 2025? Prices decreased due to easing maize input costs, cautious downstream restocking, and the need to clear accumulated stocks after June’s robust demand.
• Inventory and Supply-Demand Dynamics tilted towards oversupply, as producers maintained steady output levels while facing slower domestic and international offtake.
• Germany’s manufacturing activity, though still growing, showed signs of deceleration compared to June’s momentum, dampening fresh bulk orders.
• Export competitiveness improved slightly as the Euro stabilized, but reduced foreign inquiries pressured sellers to adjust Corn Starch spot prices to stimulate trade.
• Regional cues from the EU corn market showed increased maize availability, supporting a lower production cost trend and aiding the July Corn Starch price correction.
APAC
• Corn Starch Price Index in Indonesia showed a downward trend in July 2025 after recording a sharp increase in June due to rising export offers and freight rates.
• Spot Price for Corn Starch CFR Tanjung Priok (Indonesia) was assessed at USD 445/MT in June and declined in July amid easing cost pressures.
• The Price Forecast for Corn Starch in August 2025 indicates a stable-to-soft outlook as lower freight rates and stabilizing inventories ease market tightness.
• The Production Cost Trend moderated in July due to normalization of shipping costs and reduced landed costs from China and other major exporters.
• The Demand Outlook remained steady in July, with key downstream sectors such as food and personal care maintaining regular procurement but avoiding bulk restocking.
• Why did the price of Corn Starch change in July 2025? The price declined due to a correction from the sharp increase in June, improved inventory availability, and reduced freight and import costs.
• Supply-side normalization, along with limited urgency in procurement from end users, softened the overall market sentiment and pushed prices downward.
• Inventory conditions improved in July as scheduled imports arrived without delays, easing domestic supply tightness and enhancing market liquidity.
• Lower bunker fuel prices and improved trade lane reliability reduced shipping costs, narrowing the cost push seen in the previous month.
• Market participants anticipate a relatively balanced price movement in the coming weeks, with no major disruptions or demand surges expected in the near term.
MEA
• The Price Index for Corn Starch in the UAE declined in July 2025 after two consecutive months of sharp increases in May and June. This reversal came as market fundamentals began to rebalance, with eased import cost pressure and improved availability from key suppliers.
• Spot Price for Corn Starch CFR Zayed Port was assessed at USD 475/MT in June, but declined in July as export offers from India and China moderated, and regional buyers limited procurement to only essential volumes.
• The Price Forecast for August 2025 suggests continued downward pressure or stabilization, as landed costs ease and demand remains consistent but not aggressive across food, personal care, and pharmaceutical segments.
• The Production Cost Trend softened in July due to stabilized ocean freight from India and China and limited currency volatility. Additionally, abundant raw corn supply globally supported a more favorable cost structure for producers and exporters.
• The Demand Outlook in the UAE remained steady in July. However, most buyers avoided forward bookings amid expectations of further price corrections, resulting in subdued spot market activity and cautious restocking behavior.
• Why did the price of Corn Starch change in July 2025? Prices declined as the sharp procurement-led price build-up of June eased. A more favorable cost environment, consistent supply flows, and muted speculative buying contributed to a softening price trend.
• Despite steady consumption levels in the downstream sectors, inventory levels improved, as imports that were delayed in Q2 finally arrived and normalized local supply. This reduced short-term buying urgency.
• Currency stability between the UAE Dirham and the US Dollar also helped cap landed import costs, unlike the pressure seen in May when currency appreciation inflated procurement expenses.
• As a result, July experienced balanced market fundamentals, and participants adjusted to more rational pricing with moderated supply chain pressure.
• Looking ahead, market players expect price stabilization with potential for soft trends in August unless significant supply disruptions or freight volatility emerge.
For the Quarter Ending March 2025
North America
In Q1 2025, U.S. corn starch prices experienced significant volatility, driven by a combination of supply constraints, demand fluctuations, and logistical challenges. In January, prices maintained an upward trend due to robust demand from sectors like pharmaceuticals and food processing, along with supply disruptions caused by rising freight costs and port congestion, particularly at the Port of Los Angeles. These logistical issues, along with inventory shortages, heightened price pressures.
February saw prices continue to rise as poor corn harvests in late 2024 and strong export demand, particularly from Asia and Latin America, further strained domestic supplies. This tight supply situation, compounded by severe congestion at key U.S. ports, led to extended delivery times and increased production costs. By March, however, prices began to decline.
Favorable manufacturing conditions, high domestic inventories, and less intense logistical disruptions allowed for price reductions. Additionally, a weakening U.S. dollar and cautious buying behavior, driven by concerns over rising tariffs, contributed to the downward trend. With global demand sluggish and export activity limited, producers lowered prices to manage excess stock and sustain customer interest. Overall, the first quarter of 2025 saw a shift from rising to falling prices, influenced by both domestic and international factors.]
Asia Pacific
In Q1 2025, the Indonesian Corn Starch market experienced a dynamic price trend, marked by both increases and declines driven by global supply and demand conditions. January saw a moderate price uptick, fueled by strong demand from the food and beverage and pharmaceutical sectors, coupled with rising export prices from major suppliers like China and the U.S. This tightening global supply, alongside higher freight costs, left Indonesian importers with limited bargaining power, pushing prices higher.
February continued this trend, as Indonesia faced rising global prices, logistical disruptions, and strong demand post-Lunar New Year. Competition for limited supplies from key producers like China intensified, further pushing prices up. However, by March, the market shifted as prices began to decline. High inventory levels, coupled with improved logistics and stable shipping conditions, alleviated some pressure.
Despite the ample supply, global demand remained weak, particularly in sectors like food, pharmaceuticals, and industry. The subdued demand, combined with efforts from producers to clear excess stock, led to price reductions. As the quarter closed, the market reflected a balance of cautious optimism with downward pressure on prices due to weak global consumption. Moving forward, the outlook for Q2 2025 will depend on global demand recovery and supply-side conditions.
Europe
The price trend for Corn starch in Germany during Q1 2025 exhibited significant volatility, driven by varying demand and supply dynamics. January saw a price decline of -3.61%, primarily due to logistical disruptions and weak global demand, despite steady supply levels. Although manufacturing activity increased, oversupply pressures dominated, preventing sharp price fluctuations.
Moving into February, prices surged due to heightened demand across Europe, limited raw material availability, and rising production costs, particularly in energy. However, logistical issues, including port delays at Hamburg, compounded supply constraints. Despite these, the demand from the food and beverage sector and the strategic purchasing by buyers contributed to the upward price movement.
In March, the market reversed course, with prices declining once again. The weakening global demand post-Lunar New Year, high domestic inventories, and stable logistics contributed to an oversupply situation, leading to price reductions. Exporters focused on clearing excess stock, which further pressured prices downward. Overall, Q1 2025 ended with a mixed trend, starting with a decline in January, peaking in February, and softening in March. With the balance between supply and demand uncertain, market participants will likely maintain cautious procurement strategies in the near term.
For the Quarter Ending December 2024
North America
The overall trend of the U.S. corn starch market in Q4 2024 has been a steady decline, primarily driven by oversupply and weak demand across major sectors. As the U.S. led global corn starch production and trade, manufacturers saw rising prices early in the quarter, bolstered by strong domestic demand, particularly from the food and beverage industries. Strategic inventory management and disrupted supply chains further supported the market’s resilience.
However, by November 2024, the market faced a sharp downturn due to aggressive destocking, competitive pricing, and weakened demand, especially in pharmaceuticals and food sectors. Despite some domestic demand stability, inventory surpluses and reduced consumption led to price reductions.
Export markets saw lower prices due to weak buyer interest and high port inventories. December saw further price declines, exacerbated by weak demand and an oversupply situation. Challenges in raw material pricing, employment issues, and logistical disruptions contributed to a soft outlook. The market’s primary driver became competitive pricing rather than increased demand. At the conclusion of the quarter, the price of Corn Starch FOB Los Angeles in US was recorded at USD 530/MT with an average quarterly decline of 0.92%, continuing the downward trajectory observed throughout this quarter.
Asia Pacific
The Corn Starch market in China witnessed a declining trend throughout Q4 2024, driven by a combination of supply pressures and geopolitical factors. In October, prices surged due to shipping disruptions, typhoons, and rising demand from the pharmaceutical sector, ahead of the post-holiday season.
However, in November, prices decreased due to supply chain adjustments and destocking activities before the holiday season, despite steady demand in both domestic and international markets. Lower corn prices, a result of favorable weather and higher harvest yields, contributed to lower production costs and a surplus in the market. International competition and the depreciated yuan further reduced prices.
This shift created a buyers’ market, especially with geopolitical concerns like the potential tariffs announced by President-elect Trump, triggering aggressive destocking and discounted pricing. The overall trend in Q4 2024 was a downward price trajectory, with market players adjusting to a more competitive and cautious environment, particularly in light of the oversupply and reduced demand from sectors like animal feed and ethanol.
Europe
The overall trend in Q4 2024 for the Corn Starch market in Germany and Europe was characterized by fluctuating prices, driven by supply constraints, demand patterns, and macroeconomic factors. Germany, a key producer, saw a consistent price increase due to limited supply, higher input costs, and varying buyer demand.
Exporters adjusted domestic prices in response to tight inventories, and increased import costs further stressed industries reliant on Corn Starch, like pharmaceuticals. However, in November and December, a shift occurred with a downward trend, triggered by waning demand, reduced production costs, and excess supply.
Economic challenges, including declining business activity in the eurozone and weaker demand from downstream industries, contributed to this bearish sentiment. By December, corn production in Europe increased, but this created oversupply concerns and downward price pressure. The weaker euro further exacerbated the trend, making European corn more attractive to international buyers, but insufficient demand from key sectors led to lower prices. The market is likely to remain subdued unless demand stabilizes. At the conclusion of the quarter, the price of Corn Starch FOB Hamburg was recorded at USD 670/MT with an average quarterly incline of 0.28%.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Corn Starch market faced a significant decline in prices, largely driven by a combination of oversupply and weak demand, both domestically and internationally. A substantial oversupply led to a situation where production outstripped the needs of downstream industries, creating an imbalance that manufacturers struggled to rectify. The weak demand was exacerbated by a reduction in consumption from neighboring regions, compounded by an overall subdued trading environment.
In the USA, where the most pronounced price shifts occurred, market sentiment remained predominantly negative. This was reflected in manufacturers' decisions to cut back on production levels, resulting in the first contraction of supplier lead times in three months. End-users adopted a more cautious purchasing strategy, focusing on immediate needs rather than proactive inventory restocking. This cautious approach dampened buying interest, reinforcing bearish sentiment within the market.
The quarter concluded with an overall price decrease of -8% from the previous quarter, followed by an additional decline of -3% in the second half. The final price at the quarter's end was USD 545/MT FOB Los Angeles, underscoring the sustained trend of decreasing prices.
Asia Pacific
In the third quarter of 2024, the Corn Starch market in the APAC region has experienced a notable decline in prices, driven by several interconnected factors. Global economic conditions, supply chain disruptions, and fluctuating demand across various sectors have significantly influenced market dynamics. China emerged as a key player, witnessing the most substantial price adjustments that reflect the overarching trends in the region.
Seasonal factors and market correlations further shaped the price fluctuations. When compared to the same quarter last year, prices exhibited a significant downturn, with a consistent 0% change from the previous quarter in 2024. The second half of the quarter saw prices drop sharply by 7% compared to the first half, indicating a heightened volatility in the market.
Despite some stability in certain segments, the overall pricing environment remains bearish, culminating in a quarter-ending price of USD 420/MT of Corn Starch FOB Shanghai in China. Additionally, disruptions in plant operations during this period exacerbated the situation, further influencing the supply side and contributing to the declining price trend. The overall outlook for the Corn Starch market remains cautious as these challenges persist.
Europe
Throughout the third quarter of 2024, the European region observed a significant decline in Corn Starch prices, particularly pronounced in Germany, which recorded the steepest drops. Several key factors contributed to this downward trend, primarily characterized by oversupply conditions that outpaced demand from downstream consumers. This oversupply was exacerbated by reduced production costs, which further fueled price declines.
High inventory levels led to cautious procurement behaviors among buyers, who opted for conservative purchasing strategies in light of ongoing global economic uncertainties. Germany, a leading player in the Corn Starch market, reflected these market dynamics, with prices plunging in response to the overall negative sentiment permeating the region. Notably, the correlation between price fluctuations in Germany and the broader European market emphasized a consistent trend of decreasing prices across the continent.
Seasonal variations and external disruptions, such as plant shutdowns, added complexity to the pricing environment; however, the overarching trend remained predominantly negative. When comparing the third quarter of 2024 to the same period in the previous year, prices exhibited a marked decline. At the conclusion of the quarter, the price of Corn Starch FOB Hamburg in Germany was recorded at USD 665/MT, continuing the downward trajectory observed throughout the year.
MEA
In Q3 2024, the Corn Starch market in the MEA region experienced a marked uptrend in prices, driven by a confluence of factors influencing market dynamics. The surge in prices can be attributed to supply chain disruptions, rising raw material costs, and an increase in global demand. Key production facilities faced plant shutdowns, which further constrained supply and intensified price pressures.
Additionally, escalating transportation expenses and fluctuations in currency values have compounded the cost challenges faced by industry participants. Among the countries in the region, the United Arab Emirates (UAE) exhibited the most pronounced price fluctuations. During the quarter, prices in the UAE rose by a notable 6% compared to the previous quarter, with a slight 1% difference observed between the first and second halves of the period. This trend reflects the overarching positive pricing environment sustained throughout Q3 2024.
By the end of the quarter, the price of Corn Starch in the UAE settled at USD 475 per metric ton (MT) on a cost and freight (CFR) basis to Zayed, underscoring the continuous upward trajectory in pricing trends across the region. In the UAE, the most significant price changes occurred. Prices for Corn Starch rose by an average of 0.77% for the quarter, driven by seasonal demand spikes and supply constraints. The ongoing recovery in the non-oil private sector and strong economic diversification efforts enhanced consumer and business confidence, supporting the upward price trend. By the end of the quarter, the price of Corn Starch reached USD 460/MT CFR Zayed, reflecting a buoyant market sentiment and solidifying the positive pricing environment throughout Q2 2024.
FAQ’s
1. Why did the Corn Starch price decline in the UAE (MEA) in July 2025 despite strong June levels?
Corn Starch CFR Zayed (United Arab Emirates) dropped in July 2025 from June’s level of USD 475/MT due to falling export prices from India and a correction in international freight charges. Spot Price weakness was observed as Indian suppliers lowered offer levels to offload surplus stocks. A stronger UAE Dirham further reduced landed costs. Additionally, steady inventories and soft restocking demand weighed on the Price Index, driving the price trend downward despite stable downstream demand.
2. What factors supported stable Corn Starch prices in the US (North America) in July 2025?
The Corn Starch Spot Price in the US remained stable due to balanced production and consumption levels. The Price Index held steady as production cost trend remained unchanged amid stable corn input prices and consistent operational capacity. Demand Outlook across food and industrial sectors remained predictable. No major disruptions occurred in supply chains, and domestic inventories were well-managed, resulting in a flat price trend for the month.
3. Why did Corn Starch prices decline in Germany (Europe) during July 2025?
Corn Starch Spot Price in Germany faced downward pressure as the Price Index dropped due to weak summer demand, particularly in the food and packaging sectors. Domestic production remained high, while procurement levels were low amid off-season consumption patterns. The Production Cost Trend was neutral, but excess inventory and a drop in new orders led to a decline in the Price Forecast for August. The European market’s oversupplied conditions led to lower market-clearing prices in July.
4. What caused the downward Price Forecast for Corn Starch in the UAE for August 2025?
The Price Forecast for Corn Starch CFR Zayed (UAE) indicates further decline due to sustained competitive offers from Indian exporters and easing freight rates. The Spot Price remains under pressure as the market adjusts from the June high of USD 475/MT. Despite steady Demand Outlook, distributors are holding sufficient stock, limiting urgent procurement and further suppressing the Price Index in MEA.
5. How did supply-demand dynamics differ across UAE, US, and Germany for Corn Starch in July 2025?
In the UAE, Corn Starch price declined due to lower import costs and high inventories. In the US, the price trend was flat, supported by stable production and domestic demand. In Germany, prices dropped as high production outpaced summer consumption. Across all three regions, the Spot Price and Production Cost Trend were key drivers of the Price Index, with variations in Demand Outlook and inventory levels dictating regional pricing directions.
