For the Quarter Ending March 2024
North America
At the conclusion of the quarter, the price of Corn Starch in the US stood at USD 610/MT FOB Los Angeles. Throughout this quarter, the pricing trend for Corn Starch in the US depicted a negative change of 0.53% on average per quarter.
The pricing landscape for Corn Starch in North America during Q1 2024 has been marked by fluctuations influenced by various factors. Particularly, the US market has witnessed substantial price variations, indicating heightened volatility. Several factors have contributed to these market price fluctuations. Firstly, there has been a decrease in prices compared to the same quarter of the previous year, signaling a downward market trajectory. Furthermore, the percentage change from the preceding quarter in 2024 illustrates a further decline, solidifying the negative pricing atmosphere. The overall price trend for Corn Starch in the North American region during Q1 2024 has been pessimistic, with prices on a downward trajectory.
This trend can be ascribed to factors such as weakened demand, abundant inventories, and fluctuations in raw material prices. The pricing environment has been characterized by instability, with prices fluctuating throughout the quarter. Notably, there has been a significant price variance between the first and second halves of the quarter, although specific figures were not provided.
Asia Pacific
Throughout Q1 2024, the pricing landscape for Corn starch in the APAC region witnessed significant fluctuations, largely influenced by several key factors. The quarter concluded with Corn starch FOB Shanghai in China priced at USD 460/MT, showcasing a 0.37% average quarterly increase.
This rise was primarily driven by heightened demand both domestically and internationally, prompting suppliers to adjust their pricing strategies to capitalize on this trend. The market experienced a notable and consistent upward price trajectory, supported by the depreciation of the Chinese currency against the USD. Buyers adopted a cautious approach, delaying orders, which momentarily stabilized the surge. However, initial order fulfillment led to tight stock levels, further fueling price hikes. Geopolitical tensions and trade disruptions added complexity, causing shipping delays and increased costs. By March, an oversupply emerged, prompting suppliers to decrease prices to clear excess inventory. This drop was also facilitated by freight charges normalizing after being inflated due to geopolitical issues, easing financial pressures.
However, towards the end of Q1, despite the price decrease, the market remained relatively unchanged as a surplus of Corn starch persisted, prompting suppliers to further lower prices to manage excess stock. To address this oversupply, discounts were offered to incentivize bulk purchases, aiming to boost demand and prepare for future restocking. The normalization of freight charges also played a role in the continued price decline, alleviating cost pressures and contributing to the overall decrease.
Europe
The pricing landscape of Corn Starch in the European market during the first quarter of 2024 has been shaped by multiple factors. By the close of the quarter, the latest price for Corn Starch CFR Antwerp in Belgium stood at USD 700/MT.
Several significant drivers have impacted the pricing dynamics of Corn Starch across Europe during Q1 2024. Overall, the market has witnessed a downward trend in prices, with Belgium experiencing the most significant fluctuations. This decline can primarily be attributed to subdued demand for Corn Starch, leading to an oversupply situation. The weakened demand stems from cautious consumer behavior and economic uncertainties, prompting restrained investment and purchasing habits. Moreover, reduced manufacturing activity in the region has further dampened the demand for Corn Starch.
The price drop has also been influenced by adjustments in procurement strategies adopted by downstream processing enterprises, capitalizing on the market's surplus of Corn and adapting their pricing tactics accordingly. Additionally, the strength of the US dollar against other global currencies has provided market participants with advantageous opportunities to procure and vend Corn Starch at reduced rates, thereby impacting pricing dynamics. In Belgium specifically, prices have consistently declined throughout the quarter due to a blend of factors including oversupply, subdued demand, and strategic maneuvers by market participants. The decrease in prices has also been affected by the reduction in the cost of raw materials, particularly Corn.
MEA
At the close of the quarter, Corn Starch prices in the UAE reached USD 450 per metric ton CFR Zayed, marking a quarterly uptick of 0.78%. The initial months of 2024 witnessed considerable volatility in Corn Starch pricing across the MEA region. Various factors influenced these fluctuations significantly. One prominent factor was the temporary suspension of mass production in exporting nations during the Lunar New Year and Spring Festival. This disruption in supply chains led to delayed order fulfillment and a subsequent surge in demand post-holiday, causing a mismatch between supply and demand and driving prices upwards. Moreover, the increased costs of raw material corn also contributed to the higher production costs of Corn Starch, further pushing prices upwards.
Among the MEA countries, the UAE experienced the most notable price fluctuations during this quarter. Corn Starch prices in the UAE saw a depreciation of 2.27% in January and a further decline of 7.32% in March compared to the previous month. Overall, the trend in the UAE market was negative, with prices consistently dropping throughout the quarter. This trend can be attributed to a combination of strong market sentiment, supply chain disruptions, and heightened demand.
Traditionally, the first quarter witnesses heightened demand for Corn Starch, especially preceding significant holidays like the Chinese New Year. However, the market dynamics in 2024 differed from expectations, leading to a downward trend in prices instead.
For the Quarter Ending December 2023
North America:
During the fourth quarter of 2023 in the North America region, the Corn Starch market and prices were influenced by several factors. Notably, Corn Starch prices experienced a significant decline primarily due to ample inventories and a subdued demand outlook from downstream industries. This surplus of Corn Starch led to a downward pressure on prices.
Furthermore, the global increase in shipping costs and fluctuations in the price of the raw material, Corn, also contributed to the overall price decrease. The market situation was constrained as manufacturing activity decreased, and there was a weakening demand for goods manufactured in the United States. Reduced international demand, especially from China, prompted Chinese provinces to adjust their export prices downward, adding to the downward pressure on prices in the US market.
The decline in prices, which coincided with a expansion of crop acreage by US farmers in the previous year in response to high prices, aligned with a drop in demand. This situation proved advantageous for hedge funds that had been increasing their investments in anticipation of price falls. As a result, the price of Corn Starch in the US at the end of the quarter was USD 620/MT FOB Los Angeles. The price trend for Corn Starch in the US during this quarter showed a negative percentage change of 1.05% on an average quarterly basis.
Asia Pacific:
In the APAC region, the Corn Starch market encountered challenges during the fourth quarter of 2023 (October to December). The primary factors affecting the market were a sluggish economy, decreased demand, and an excess of local inventory. However, at the beginning of Q4, prices started to show an upward trend. The sudden surge in demand, driven by fears of shortages, raised Corn Starch production costs, compelling manufacturers to adjust pricing strategies to safeguard profits. Additionally, strategic bulk purchases by market players aiming to replenish their stocks contributed to the price surge. The heightened demand prompted many buyers to expedite their Corn Starch acquisitions, amplifying overall demand pressures during the holiday season.
As November commenced, the sluggish economy led to a drop in demand from downstream industries, resulting in a decline in Corn Starch prices. Furthermore, the excessive local inventory created a surplus, intensifying competition among suppliers and leading to further price reductions. These factors collectively created a constrained market situation throughout the quarter. In China, the largest market for Corn Starch in the region, prices experienced a quarterly decline of 0.33% on average. The market was influenced by a pessimistic demand outlook from downstream industries and stable raw material costs. Nevertheless, the domestic corn market exhibited signs of stability as manufacturers lowered purchase prices and fresh inventories entered the market.
In conclusion, the Corn Starch market in the APAC region, particularly in China, faced challenges in the fourth quarter of 2023. The combination of a sluggish economy and reduced demand resulted in price declines, while an excess of local inventory added to the competitive market dynamics. The closing price of Corn Starch FOB Shanghai in China at the end of the quarter was USD 455/MT.
Europe:
In the last quarter of 2023, the European Corn Starch market faced considerable fluctuations and challenges. A key factor influencing the market was the surplus supply of Corn Starch, leading to a decline in prices. The excess inventory held by suppliers created a market imbalance due to sluggish demand from downstream industries. Furthermore, the drop in prices was driven by the decrease in the cost of the raw material, corn. The expansion of crop acreage by farmers in the preceding year contributed to reduced demand and favorable conditions for hedge funds.
Belgium, in particular, felt the impact of these market dynamics, experiencing a noticeable decrease in Corn Starch prices. The country grappled with issues in efficient stock management as local manufacturers built up substantial inventories to meet domestic demand. Overall economic conditions, including inflation and interest rates, also played a role in shaping market sentiment.
Despite these challenges, the market maintained moderate to high supply levels, while demand consistently remained low. The Euro's appreciation against the USD during this period affected the competitiveness of Belgian exports. However, as of the current quarter, the latest Corn Starch price CFR Antwerp in Belgium stands at USD 690/MT, reflecting an average quarterly decline of 3.12%.
MEA:
In the final quarter of 2023, the Corn Starch market in the Middle East and Africa encountered various factors influencing prices. To begin with, there was an excess of Corn Starch inventories, prompting a production slowdown and the need to clear existing stocks. This surplus led to a downward pressure on prices. Secondly, the demand for Corn Starch was relatively subdued, with diminished consumer interest and slower industrial adoption, further contributing to the price decline. Lastly, the primary raw material, corn, experienced a significant cost reduction, leading to lower production costs for Corn Starch manufacturers. These cost savings were passed on to consumers, resulting in a price decrease.
However, post the conclusion of Q4, prices surged significantly.This shift in pricing dynamics has noteworthy implications for market experts and traders who strategically accumulated stocks in anticipation of an expected surge in demand from their respective end-user sectors. Despite this, the market maintained tight and robust sentiments. The global increase in freight costs played a pivotal role in shaping the market dynamics for Corn Starch in the United Arab Emirates. As a major importing region, the United Arab Emirates aligned its pricing trajectory with that of major exporting countries. Furthermore, the positive market trend in December 2023 was reinforced by the support in costs from upstream raw material prices. The production stability and firm market sentiments were maintained through the process trajectory for the raw material Corn. Complicating matters, market players faced challenges with insufficient inventories due to a surge in demand and disruptions in the supply chain. The quarter-ending price of Corn Starch CFR Zayed in the UAE was USD 440/MT, with an average quarterly increase of 2.09%.
For the Quarter Ending September 2023
North America
During the third quarter of 2023, there was a consistent fluctuation in corn starch prices in the North American region. The prices were accessed at $465 per metric ton in July but fell to $460 per metric ton in September, showing an average quarterly decline of 3.84%. During the third quarter of 2023, Corn starch prices in North America, primarily in the United States, continued to decrease. This decline was mainly due to the increased availability of Corn starch resulting from ongoing harvests in major exporting countries including the northern hemisphere. The U.S. corn crops faced challenges due to hot and dry conditions, especially in the northern regions where the crop was still developing. Severe drought in the western half of the state, occurring as recently as late April, led to many farmers abandoning their crops. However, Corn starch prices experienced a significant decline from their peak in late June during July. This drop was attributed to the arrival of the harvesting season, supported by rains in July that facilitated crucial crop development, countering the early-season dry conditions and hot summer temperatures. Additionally, the market saw a significant harvest in Brazil, which is expected to surpass the United States as the world's leading corn exporter. This surplus supply from Brazil reduced demand for U.S. corn exports, contributing to the decline in prices. Despite a strong domestic harvest that increased stocks, the market experienced a surplus of Corn starch supply, which further lowered prices. Furthermore, the drop in American corn exports was linked to a decrease in purchases, adding to the factors influencing the decline in Corn starch prices during this period.
Asia Pacific
During the third quarter of 2023, there was a consistent fluctuation in corn starch prices in the APAC region. The prices were accessed at $465 per metric ton in July but fell to $460 per metric ton in September, showing an average quarterly decline of 1.05%. This price decrease in July was influenced by the domestic corn market's pressures, leading to slight reductions in corn starch factory prices in certain areas, which, in turn, caused a minor drop in domestic corn starch market prices. However, towards the end of the month, as corn prices stabilized, the corn starch market rebounded and became more stable overall. At the end of the month, sporadic corn entries in the northeast production area, along with optimistic expectations for a high yield of new-season corn, continued to exert downward pressure on domestic corn market prices, impacting domestic corn starch market prices negatively due to sufficient inventories and sluggish demand. Nevertheless, prices did experience a rebound in the middle of the third quarter. This was driven by the ongoing strength of the domestic corn market, rising raw material costs, and improved demand for starch after the summer season. These factors, supported by cost considerations and increased demand, contributed to the continued strength of the domestic corn starch market. Midway through the year, domestic corn market prices saw a slight increase, raw material costs fluctuated but eventually stabilized, and the corn starch market prices also found stability.
Europe
In the third quarter of 2023, the European corn starch market witnessed significant price fluctuations. Corn starch prices in the European region displayed consistent volatility during this period. They commenced at $880 per metric ton in July but dropped to $760 per metric ton for Corn Starch CFR Antwerp (Belgium) by September, resulting in an average quarterly decrease of 5.43%. Similarly, prices for Corn Starch FOB Hamburg (Germany) started at $1110 per metric ton in July and declined to $890 per metric ton by September, marking an average quarterly decrease of 7.35%. The price decline in July was particularly noteworthy and had adverse effects on consumption within the food and industrial sectors. This situation was exacerbated by a recent spike in inflation, which led to increased production and transportation costs for corn, further contributing to the downward pressure on corn starch prices. Furthermore, domestic traders, who held substantial corn reserves, played a role in intensifying the situation by lowering their price quotations as a strategic move to mitigate potential losses, thereby exerting additional pressure on the market. The overall corn market conditions, characterized by low production costs and ample domestic inventories, influenced the trajectory of corn starch prices. The surplus supply of corn placed downward pressure on prices in both Germany and Belgium, which are major exporting nations for corn.
MEA
In the third quarter of 2023, the Corn starch market in the Middle East and Africa (MEA), with a specific focus on the United Arab Emirates (UAE), saw a consistent decline in prices. During the month of July 2023, the prices of Corn starch exhibited a gradual decrease. In July, Corn Starch prices for CFR Zayed (United Arab Emirates) were assessed at $445 per metric ton but fell to $415 per metric ton by September, resulting in an average quarterly decline of 2.66%. The increased production in countries that export Corn starch led to an excess supply in the market, which, in turn, drove further price reductions. Furthermore, the UAE faced significant competition from other Corn starch-exporting nations like the United States and Brazil, both of which produced larger quantities of Corn starch in 2023, establishing themselves as major players in the global market. Favorable weather conditions for Corn cultivation, characterized by warmer and drier conditions, played a role in pushing down Corn starch prices in both exporting and importing markets. This, in turn, prompted efforts to reduce inventory levels. The onset of the Corn harvesting season in July reinforced the downward price trend, supported by an increased global corn supply, which kept prices on a continuous decline.
For the Quarter Ending June 2023
North America
In the second quarter of 2023, the US Corn starch market experienced volatility. The first two months of the second quarter saw steady price gains due to hampered supply and demand dynamics. Due to increased demand from end-user suppliers, there is a moderate shortage of Corn starch on domestic warehouse shelves, leading to price hikes in the market. Trade between Asia and the United States has increased since the zero-resistance policy against COVID-19 was abolished. Also, the production costs of corn starch have increased in recent months due to the rising prices of corn and other inputs. In early June, prices finally began to fall due to weak demand, which led to excess inventory, which forced suppliers to lower their prices. The ongoing economic instability in the US and the rising global inflation rate have also contributed to the decline in demand for corn starch. However, distributors are hesitant to place large orders due to the falling prices. Major players in the market are expected to reduce prices in the coming months further. The price of feedstock corn has also declined due to a surplus supply and increased production. Distributors and suppliers are not restocking their inventories as they are still trying to clear the surplus.
Asia
The Corn starch market in the second quarter of 2023 in the Asia Pacific region showcased a mixed trajectory. The Corn starch market in the second quarter of 2023 in the Asia Pacific region showcased a mixed trajectory. From the commencement of Q2 till the mid of Q2, the Corn starch market showed significant price inflation due to soaring domestic and international orders. The increased production rates to refill the inventories with fresh stock and cater to the upcoming demand market situation remained strong. The supply of Corn starch has been somewhat constrained, due to several factors, including production disruptions in China and the ongoing war in Ukraine. This reduced supply has also contributed to the increase in prices. China's exports saw a better-than-expected market situation as consistent inquiries from the domestic and international markets remained above average. Later with the termination of mid-Q2, the prices fluctuated, and the prices witnessed to deflate significantly. In addition, this price trend was mainly due to a decrease in sales in final consumption areas, and there were no new inquiries from domestic and overseas suppliers. Demand from downstream industries such as food preservatives, plasticizers, and cosmetics has declined in recent months. Due to a large inventory of Corn starch in the warehouse, the supplier had to reduce the price to reduce the existing inventory.
Europe
The second quarter of 2023 saw an appreciation in the European market for Corn starch. As the second quarter began, prices rose due to the gap between the supply and demand side of the market. The price hike was exacerbated by a national surge in domestic inquiries. However, dealer inventories were sufficient to cover gross demand for the month. That said, another factor supporting this increased demand for Corn starch is the appreciation of the Euro against the US Dollar. Unexpected production cut decisions by OPEC+ members also had a positive impact on the market environment. Higher energy costs, higher production costs, and higher transportation costs all contributed to the continued strength of the market. The Euro's strength against the US dollar could make German exports more expensive for foreign buyers and reduce export sales, while imports would become cheaper for German consumers, and domestic inquiries could increase. Inflation in Europe fell to 7.4%, data show. The United States is the world's largest producer of corn, and the drought has led to a decrease in the corn crop. This has reduced the supply of corn starch, which has put upward pressure on prices. Speculative trading has also contributed to the increase in corn starch prices. Speculators are buying corn starch in the hope that prices will continue to rise. This has further increased demand for corn starch and put even more upward pressure on prices. However, it is likely that prices will remain high for some time, as the drought conditions in the United States are expected to continue for several months.
For the Quarter Ending March 2023
North America
The first quarter of 2023 saw an incline in the price trend in the North American market for Corn Starch. Early in January, a positive market attitude for Corn Starch began to emerge across the USA; it persisted through the end of the month as a result of consistent orders from both domestic and foreign purchasers. Additionally, growing feedstock costs had an effect on Corn Starch production costs, which in turn led to high prices. Due to a spike in end-user sector demand in February, Corn Starch prices increased. Strong demand and low inventory levels improved the fundamentals of market trade. In addition, prices for Corn Starch in the USA increased in March as a result of sizable orders from the end-user industry. High demand and limited inventory enhanced the foundations of market trading. Towards the end of the quarter, the prices for Tricalcium Phosphate were assessed at around USD 675/MT for FOB Los Angeles in March.
Asia Pacific
Corn Starch prices in the Asia Pacific region inclined in the first quarter of 2023 for a variety of reasons. Due to robust end-user demand, Corn Starch prices in China climbed sharply in January. After the Lunar New Year break, the market technically restarted on a strong note with an increase in orders from domestic and foreign customers. Because China's market dynamics remained robust in February, the price of Corn Starch kept rising. High end-user industry purchasing activity, rising demand, and falling supply were the primary factors for this growth. Corn starch prices continued to grow in March as China's market fundamentals remained favorable. The main drivers of this growth were high-end-user industry purchasing activity, rising demand, and declining supply. Toward the end of the quarter, the prices were assessed around USD 475/MT for FOB Shanghai in March.
Europe
The Corn Starch market in Europe fluctuated during the first quarter of 2023. Due to an increase in the price of corn feedstock, corn starch prices in Germany, it was increased rapidly through the end of January. Strong market dynamics in the German domestic market also contributed to the price increase. As end-user industry demand remained sluggish, Corn Starch prices declined in February. Positive impulses were also weak in end markets due to the constrained economic environment. Corn starch prices fell in March as end-user sector demand remained low in Germany. Towards the end of the quarter, the prices for Tricalcium Phosphate were assessed at around USD 1130/MT for CFR Hamburg in March.
For the Quarter Ending December 2022
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 for Chinese 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.
For the Quarter Ending September 2022
North America
With prices assembled at USD 620/MT in July, the North American market for Corn Starch started the Q3 of 2022 on a declining note. However, these values continued to decrease until September and were settled at USD 585/MT. Due to lowered price of its primary feedstock- Corn amidst the abundance of Corn available in the country, the price of Corn Starch was falling in the domestic market. As a result, this quarter saw an effective decline in demand from the downstream food and pharmaceutical sector, and most traders maintained a solid wait-and-see attitude. Therefore, producers reduced their prices to some extent to ensure shipment, which led to a modest decrease in the price of Corn Starch overall and impacted FOB pricing.
Asia- Pacific
In the Asia Pacific, the Corn Starch market recorded a steep decline throughout the third quarter of 2022 due to the falling prices of feedstock Corn with the rising speculation of a global recession. Also, bearish demand from downstream pharmaceutical and food sectors with muted purchasing activities because of uncertainties in the supply further affected the price in the domestic market. Early production of feedstock corn in agricultural areas resulted in successive inventories entering the market, due to which the purchase price of Corn was somewhat cut, which further benefitted Corn Starch producers. Therefore, by the end of Q3, the FOB Shanghai price of Corn Starch settled at USD 465/MT with a quarterly decline of 9.1%.
Europe
During the third quarter of 2022, the prices of Corn Starch continued to follow a downward trend in European countries, with prices settling in Germany and Belgium at USD 990/MT and USD 874/MT by the end of September due to dull market sentiments. The main reason behind the decline was mainly backed by a constant drop in feedstock corn prices due to the surplus production of spring corn resulting in excessive market inventories. Manufacturers gradually reduced their factory prices to clear their stockpiles, which caused the corn starch market price to keep falling throughout the quarter. Also, the purchasing activities were not high due to relatively low demand from the downstream pharmaceuticals sector in domestic and other European countries.
For the Quarter Ending June 2022
North America
In the second quarter of 2022, the Corn Starch market witnessed an upsurge in the North American region. The prices of feedstock corn surged gradually, owning to the Russia-Ukraine war crisis and associated suspension at Ukraine ports, which further disrupted the global supply chain. Soaring fertilizer prices with maximum cost support consequently escalated the cost of the feedstock corn crop. Being the major exporter of Corn Starch and with increasing demand in Canada and Mexico, the Corn Starch market witnessed a supply-demand gap as demand outpaced the supply side. Towards the end of Q2 2022, the prices of Corn Starch were recorded to be on the higher side, with values assessed at USD 630/MT.
Asia- Pacific
The prices of Corn Starch showcased an overall rising movement across the Asia-Pacific region during Q2 2022 because of positive sentiments in the domestic market and a surge in imports to Indonesia and Malaysia. The positive support for the increase in corn starch prices was mainly due to the tight market supply and demand pattern, which makes companies more willing to stand up for expenses. Also, the costs of the raw material corn rose significantly, led by the Russia Ukraine war crisis. As the situation worsened, Ukraine halted its production units, creating pressure on the other Asian manufacturers to export corn with the surging demand in industries, which led to higher processing costs for Corn Starch enterprises. In China, the FOB Shanghai prices of Corn Starch showcased an increment of 10.3%, with values assembling at USD 510/MT by the end of this quarter, whereas the Ex-Ahmedabad prices of Corn Starch in India surged to INR 42340/MT.
Europe
In the second quarter of 2022, the prices of Corn Starch showcased fluctuations in the European region due to mixed market sentiments. The prices of Corn starch in Germany declined till May and regained their upward momentum in June. The primary factor behind an overall decrease of 6% till May was decreased demand from the downstream pharmaceutical and food industries amidst weak purchasing momentum and overflowing stocks. But with an immediate inclined of 6.8% in June, the FOB Hamburg prices of Corn Starch in Germany surged to USD 1020/MT. Even though the raw material corn prices fell due to excessive stock amidst low temperature and rains in June have increased the moisture level in crops. The enterprises of Corn Starch still faced high costs because freight rates have surged on the back of the high fuel cost leading to higher processing costs.
