For the Quarter Ending September 2025
North America
• In North America, the Maltodextrin Price Index fell by ~3.5% quarter-over-quarter amid subdued domestic food-industry demand and export competition.
• The average Maltodextrin price for the quarter was approximately USD 515.00/MT, CFR New Orleans basis (conservative estimate using export parity and transaction indicators).
• Maltodextrin Spot Price remained soft as wholesalers and processors delayed restocking and ran down inventories.
• Maltodextrin Price Forecast points to gradual firmness into Q4 if seasonal food manufacturing and nutraceutical replenishment pick up.
• Maltodextrin Production Cost Trend improved as domestic maize prices eased and plant utilisation rose after scheduled maintenance.
• Maltodextrin Demand Outlook is cautiously constructive with pockets of replenishment-led buying ahead of winter production.
• Steady port throughput and inland trucking preserved supply reliability, limiting extreme volatility despite weaker demand signals.
• Major domestic producers maintained steady shipments, and export offers remained competitive, shaping spot market dynamics.
Why did the price of Maltodextrin change in September 2025 in North America?
• Muted industrial buying and elevated distributor inventories reduced immediate procurement, exerting downward pressure on spot prices and the Price Index.
• Falling domestic maize/feedstock costs eased production-cost pressure, enabling competitive offers from exporters and producers.
• Smooth logistics and steady freight conditions kept landed costs predictable, so inventory and demand dynamics determined price direction.
MEA
• In South Africa, the Maltodextrin Price Index fell by 3.06% quarter-over-quarter, reflecting softer downstream demand.
• The average Maltodextrin price for the quarter was approximately USD 675.33/MT based on import offers.
• Maltodextrin Spot Price firmed modestly as importers replenished stocks, lifting the Maltodextrin Price Index marginally.
• Maltodextrin Price Forecast anticipates gradual firmness into Q4 driven by seasonal procurement and industrial consumption.
• Maltodextrin Production Cost Trend stayed subdued as global maize prices eased, moderating exporters' landed offers.
• Maltodextrin Demand Outlook indicates replenishment-led buying from food and nutraceutical sectors ahead of festive production.
• Importer inventory cushions pressured near-term Maltodextrin Price Index readings yet facilitate measured scheduled restocking activity.
• Export offer adjustments and smooth Durban logistics influenced landed costs, shaping Maltodextrin Spot Price dynamics.
Why did the price of Maltodextrin change in September 2025 in MEA?
• Lower downstream consumption in July reduced immediate import demand, pressuring quarterly Maltodextrin Price Index downward.
• Eased global maize prices lowered production costs, limiting exporters' offers despite currency depreciation and logistics.
• Comfortable importer stocks and cautious buyer behaviour suppressed spot purchases, muting Maltodextrin Spot Price momentum.
APAC
• In China, the Maltodextrin Price Index fell by 3.36% quarter-over-quarter, reflecting weaker export and domestic demand.
• The average Maltodextrin price for the quarter was approximately USD 526.67/MT, indicating stable supply conditions.
• Maltodextrin Spot Price showed restrained movement as exporters competitively priced cargoes against moderate buyer interest.
• Maltodextrin Price Forecast indicates modest seasonal firming, constrained by ample Chinese output and cautious procurement.
• Maltodextrin Production Cost Trend softened as lower maize feedstock prices reduced manufacturing costs for producers.
• Maltodextrin Demand Outlook remains constructive with F&B and nutraceutical restocking supporting measured incremental export orders.
• Maltodextrin Price Index depicted July softness followed by modest August improvement as procurement windows reopened.
• Stable logistics and uninterrupted manufacturing kept inventories balanced, limiting upside while preserving export market competitiveness.
Why did the price of Maltodextrin change in September 2025 in APAC?
• Lower maize feedstock costs reduced manufacturing expense, easing production pressure and moderating intended pass-through effect.
• Importers maintained higher inventories from prior purchases, dampening urgent buying and limiting September price escalation.
• Smooth logistics and consistent output prevented supply disruptions, capping volatility and supporting Maltodextrin Price Index.
Europe
• In Europe, the Maltodextrin Price Index fell by ~2.9% quarter-over-quarter, pressured by softer industrial demand and competitive import offers.
• The average Maltodextrin price for the quarter was approximately USD 540.00/MT (conservative estimate based on regional quotations and import parity).
• Maltodextrin Spot Price showed limited upside as distributors ran down inventories and exporters priced cargoes to maintain throughput.
• Maltodextrin Price Forecast indicates modest seasonal firming into Q4, tempered by ample regional output and cautious procurement.
• Maltodextrin Production Cost Trend softened due to lower maize/feedstock import costs and moderate energy prices.
• Maltodextrin Demand Outlook is steady with measured restocking from F&B and nutraceutical processors supporting incremental orders.
• Balanced inventories and reliable port/rail logistics constrained volatility, preventing sharp price spikes while preserving export competitiveness.
• Consistent manufacturing throughputs and timely shipments kept supply lines open, moderating near-term Price Index moves.
Why did the price of Maltodextrin change in September 2025 in Europe?
• Reduced immediate industrial buying and ample imported volumes lowered spot demand, pressuring the Price Index.
• Lower maize/feedstock import costs eased production-cost baselines, allowing exporters and producers to keep offers competitive.
• Efficient port and inland logistics prevented freight-driven cost increases, so procurement timing and inventory levels drove price changes.
For the Quarter Ending June 2025
North America
• Q2 2025 for North America witnessed a mixed-to-soft Maltodextrin Spot Price trend, with prices broadly mirroring the Chinese export reference (fluctuating between USD 550–570/MT mid-quarter); average quarter-over-quarter movement hovered around -0.8%, with stabilization by June supported by gradual demand normalization.
• Maltodextrin Price Forecast remains cautiously neutral for Q3, with recent U.S. tariff impositions on Chinese starch derivatives limiting import flows, potentially tightening domestic supply and raising speculative sentiment for H2 2025.
• Large import volumes from China in April faced port congestion and pre-tariff acceleration, leading to brief price upticks and supply chain distortions as buyers rushed to secure stocks.
• Maltodextrin Production Cost Trend for North American importers reflected cost pass-throughs from Chinese processors facing higher corn and logistics prices, inflating landed costs by up to 3–4% in early Q2.
• By May, the market felt the impact of sluggish downstream demand in food processing and beverage sectors, resulting in a softening of spot prices and an accumulation of inventory at major distributors.
• Some importers deferred orders anticipating further Maltodextrin Spot Price corrections following visible excess inventory and shifting U.S. dietary trends reducing short-term consumption rates.
• Supply stability from China improved post-May as port operations normalized; yet, the implementation of new tariffs resulted in realignments toward local and alternative overseas sourcing.
• June 2025 saw a marginal firming of spot prices (approaching USD 555/MT) as drawdowns of carryover stocks and a mild pickup in beverage and sports nutrition demand triggered moderate restocking.
• Upstream cost pressures moderated by June, but increasing freight costs from China persisted, raising attention around import-dependency and fostering renewed discussions on regionalizing supply chains in North America.
• The Maltodextrin Demand Outlook for Q2 closed on a note of guarded optimism, with inventory strategies realigned towards agility and tariff impacts monitored closely for Q3 price forecast implications.
APAC
• The Q2 Maltodextrin Spot Price trend in APAC showed marginal overall volatility, closing Q2 at USD 540/MT in June (from USD 560 in April), reflecting a quarterly average fluctuation of -0.63%, with a brief May dip before slight price firming into June.
• Maltodextrin Price Forecast sentiment for Q3 2025 leans cautiously optimistic after June’s import price stabilization, supported by moderate recovery in both domestic and export demand.
• Maltodextrin Production Cost Trend was driven by surging corn prices in early Q2, impacting input costs directly; by June, upstream raw material pressure moderated due to stabilization efforts but persisted above long-term averages.
• Maltodextrin Demand outlook in April was robust, particularly from the Chinese food & beverage and nutraceutical industries, bolstered by government consumer initiatives and early export surges pre-U.S. tariff implementation.
• Port congestion across Qingdao, Tianjin, Shanghai, and Ningbo delayed export flows in April, with logistical backlogs easing by June as international shipments normalized.
• May recorded a price drop as exporters faced excess inventory, prompting strategic price reductions and intensified global competition, despite steady production rates in China.
• Weak international procurement in May, notably from pharmaceuticals and food service sectors, led to stock build-ups and pressured suppliers to offer discounts, muting short-term Maltodextrin Spot Price movements.
• Inventory cycles in export and manufacturing hubs tightened by June after preceding cautious procurement resulted in widespread inventory drawdowns across Asia-Pacific.
• June saw renewed international purchasing interest as downstream inventories dwindled in key importing markets, driving a price uptick and reigniting confidence in the Maltodextrin Demand Outlook.
• Overall Q2 export liquidity remained satisfactory for suppliers; June 2025 transactions reflected healthy supply chain efficiency and undisturbed production logistics, with price dynamics more demand-led than cost- or supply-driven.
Europe
• Q2 2025 in Europe saw a stable-to-soft Maltodextrin Spot Price profile (tracking in the USD 565–590/MT range), with a quarter-average price shift of nearly -0.5%, underpinned by modest June recovery as importers restocked depleted inventories.
• The Maltodextrin Price Forecast signals a mild upward bias for early Q3 driven by tapering Chinese export offers and rebounding regional demand after earlier destocking phases.
• European Maltodextrin market reliance on Chinese supply was acute in early Q2, with April’s import window active due to scheduled port arrivals ahead of Asian logistical slowdowns and new EU customs scrutiny.
• Maltodextrin Production Cost Trend for European buyers echoed global corn and energy price increases, pushing procurement costs higher until May, when softer demand prompted price accommodations from exporters.
• The second-half of May saw an inventory overhang among West European importers, temporarily softening spot prices as bulk buying subsided in food, confectionery, and sports supplement manufacturing.
• Pharmaceutical and personal care applications maintained routine offtake, utilizing existing inventories and emphasizing just-in-time delivery models through the quarter.
• By June, importers responded to fading surplus by ramping up new purchase orders, particularly from German, French, and Benelux food sectors, propelling a visible, if modest, price uptick (up USD 5–10/MT).
• Logistics and customs operations ran efficiently throughout Q2; no significant bottlenecks occurred in major European ports, enabling dependable Maltodextrin supply availability.
• Freight costs remained a concern as high shipping charges from Asia persisted in dampening arbitrage opportunities, influencing sourcing and contract strategies across Europe.
• The Maltodextrin Demand Outlook for European Q2 closed with a cautiously positive tone, driven by expectations of seasonal food and beverage application growth and ongoing vigilance for policy and cost developments ahead of Q3.
MEA
• MEA maintained a fluctuating Q2 Maltodextrin Spot Price trajectory, with import values in South Africa at USD 695/MT in June (down from USD 710 in April), marking a quarterly average change of -0.21%; June registered a mild rebound amid lean inventories.
• Maltodextrin Demand Outlook was stable-firm in April, with food, beverage, and supplement segments anchoring end-use, creating anticipation of continued upward price momentum into early Q2.
• Maltodextrin Production Cost Trend for MEA imports reflected rising upstream starch and energy costs, compounded by stricter compliance, temporary Asian factory shutdowns, and increased freight rates.
• Maltodextrin Supply was constrained in April by logistics bottlenecks and elevated ocean freight, boosting Maltodextrin Spot Prices and prompting cautious, forward-leaning procurement activity among importers.
• Aggressive restocking by South African buyers in April amid global volatility contributed to tighter market supply and firmer pricing through month-end.
• In May, Maltodextrin Spot Price softened due to weak international demand and declining maize prices; a stronger South African Rand further mitigated landed cost pressures for local importers.
• Local inventories were sufficient in May, as weak downstream demand and absence of new sectoral triggers curtailed fresh buying, supporting a subdued, buyer-friendly price environment.
• Supply from major Asian exporters, notably China and India, remained uninterrupted in May despite reduced offer prices and stagnant MEA procurement, underscoring ample availability.
• June saw a modest price uptick driven by a return of procurement interest as downstream stockpiles diminished across food and beverage segments, with suppliers maintaining slightly firmer offers.
• No significant logistical or distribution challenges were reported in June; procurement in processed beverage and supplement segments improved, reflecting the shifting Maltodextrin Demand Outlook for the region.
For the Quarter Ending March 2025
North America
In the first quarter of 2025, Maltodextrin prices across North America trended downward, driven by a combination of global oversupply and shifting regional demand patterns. January opened with softer prices as surplus production from major global suppliers created strong competition. At the same time, North American buyers displayed caution, influenced by high inventory carryovers from late 2024 and subdued purchasing activity across food, beverage, and pharmaceutical sectors.
Throughout February 2025, the price softness persisted as end-user industries maintained conservative buying strategies. Changing consumer preferences toward clean-label and natural products weakened traditional Maltodextrin demand, especially within the food and health-focused markets. Additionally, steady declines in logistics and energy costs enabled importers and distributors to offer lower prices, while overall industrial activity remained moderate, putting little upward pressure on demand.
By March 2025, the downward momentum intensified. Businesses focused on inventory optimization rather than new procurement, and economic uncertainty further restrained spending. Exporters continued offering competitive deals to clear surplus stocks, deepening the price reductions. Consequently, Q1 2025 ended with sustained weakness in Maltodextrin prices across North America, offering cost benefits to buyers but posing challenges for suppliers aiming to maintain profitability in an increasingly cautious market.
Asia Pacific
In Q1 2025, the Chinese Maltodextrin market witnessed a fluctuating price trend, shaped by seasonal, supply, and raw material dynamics. January began with a noticeable decline in prices, driven by high domestic production, stable corn feedstock costs, and weak demand from food and feed sectors, leading to an oversupply. China's record corn harvest and reduced import dependency further lowered production costs, pushing Maltodextrin prices down.
However, February marked a significant turnaround, as the Lunar New Year holidays triggered temporary factory shutdowns, tightening supply. Post-holiday, strong demand from the food, beverage, and pharmaceutical sectors, coupled with lean inventories and rising energy costs, led to a sharp increase in prices. Additionally, tighter corn supply and government policies limiting imports elevated raw material costs, adding further upward pressure.
By March, the market likely stabilized at elevated price levels, supported by consistent demand and lingering supply constraints. While production normalized after the holidays, raw material and energy cost pressures prevented any major price corrections. Overall, Q1 2025 exhibited a U-shaped pricing pattern, with a sharp decline in January followed by a rebound in February and steady, firm prices through March. This quarter highlighted the strong influence of seasonal disruptions and commodity market trends on Maltodextrin pricing.
Europe
In the first quarter of 2025, Europe experienced a steady decline in Maltodextrin prices, influenced by abundant global supply and softer regional demand. January 2025 marked the beginning of the downward trend as favorable agricultural conditions and technological advancements boosted global production, leading to an oversupplied market. Alongside this, moderate economic activity across major European economies reduced demand from key sectors such as food, beverage, and pharmaceuticals, applying additional pressure on prices.
The declining trend persisted into February 2025, supported by continued oversupply and reduced manufacturing and logistics costs from major exporting countries. High inventories accumulated during late 2024 across European warehouses limited fresh procurement needs, while cautious consumer spending and a growing preference for clean-label and natural ingredients slowed demand for traditional Maltodextrin products. Competitive offers from global suppliers further kept import prices subdued, even as local producers attempted to adjust to the changing market dynamics.
By March 2025, the Maltodextrin market in Europe witnessed a sharper dip as economic uncertainties and reduced industrial activities dampened purchasing sentiments further. End-user industries remained hesitant to commit to new contracts amid already high inventory levels. Overall, Q1 2025 closed with sustained downward pressure on Maltodextrin prices across Europe, benefiting buyers but challenging suppliers' margins.
MEA
In the first quarter of 2025, South Africa witnessed a consistent decline in Maltodextrin import prices, driven largely by global oversupply and favorable production conditions. January 2025 saw prices fall as improved agricultural outputs and technological advancements led to increased global availability. Additionally, a stronger South African Rand against the U.S. Dollar enhanced import affordability, supporting a buyer’s market. However, weakened factory activity, as indicated by a falling PMI, and softer domestic purchasing trends contributed to reduced demand, maintaining downward pressure on prices.
The trend continued into February 2025, with prices remaining low amid persistent oversupply, reduced manufacturing costs, and subdued end-user demand. High inventories from late 2024 and cautious procurement strategies across key sectors, including food, beverage, and pharmaceuticals, limited fresh orders. Although the South African Rand weakened slightly, favorable trade conditions and competitive global pricing continued to offer cost advantages to importers. Shifting consumer preferences towards clean-label ingredients further tempered demand for Maltodextrin-based products.
By March 2025, the decline deepened, reflecting weaker industrial activity, high inventory levels, and broader economic uncertainties. Trade disruptions and restrained consumer spending limited market recovery, resulting in a sharp dip in import volumes. Overall, Q1 2025 ended with a sustained downward trend in Maltodextrin import prices, creating a highly favorable environment for South African buyers.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Maltodextrin market exhibited notable fluctuations, driven by global supply-demand imbalances and market dynamics witnessed in key producing nations. In October, export prices fell, impacted by high production rates and stable feedstock corn costs, along with weak demand from key sectors like food and feed. With abundant inventories, suppliers employed competitive pricing strategies to reduce stock levels.
Despite some signs of manufacturing recovery, with the U.S. PMI increasing slightly, export orders remained sluggish, input costs rose, and downstream procurement stayed cautious, preventing a significant rebound. In November, the market continued to face downward pressure, as elevated production levels and a lack of strong overseas demand led to supply gluts. Buyers relied on existing stocks, and policy-driven economic incentives had little impact on demand. The market, however, saw some cost-saving opportunities for industries like food, pharmaceuticals, and cosmetics, amid favorable pricing and fluctuating exchange rates.
By December, a shift occurred, with prices starting to rise, supported by post-holiday demand and logistical improvements. Supply constraints, particularly in non-GMO lecithin, coupled with rising production costs and labor shortages, pushed prices upward. This recovery marked a positive turn, with suppliers adapting to market conditions and resetting pricing norms.
Asia
In the fourth quarter of 2024, China’s Maltodextrin export market saw price fluctuations due to production surplus, economic factors, and strategic trade decisions. October saw a sharp decline in export prices driven by increased production, stable raw material costs, and a slowdown in global demand, particularly from regions facing economic challenges. Suppliers faced high inventory levels and competitive pricing, exacerbated by low demand from the food and feed sectors. By November, controlled destocking and supply chain adjustments led to further price drops. A corn surplus, supported by favorable weather, and lower feed corn and wheat prices reduced production costs. The yuan’s depreciation and competitive pricing from exporters like Argentina and Ukraine further softened the market. However, moving towards the termination of the quarter, i.e., in December, the price rise was driven by a modest increase in regional and overseas quotes, balanced by prior inventory stocks. Additionally, a post-holiday demand surge from Western countries and improved logistics boosted the trend. As a result, some manufacturers capitalized on the situation, trading at higher prices and setting a new baseline for future pricing.
Europe
In the fourth quarter of 2024, Europe’s Maltodextrin market experienced price volatility influenced by production surpluses, economic conditions, and strategic trade decisions. October saw a decline in export prices, driven by increased production, stable raw material costs, and a slowdown in demand, particularly from economically weakened regions. Suppliers struggled with high inventory levels and competitive pricing, compounded by subdued demand from the food and feed sectors. By November, controlled inventory adjustments and supply chain strategies led to further price reductions. A surplus in corn, supported by favorable weather, and lower feed corn and wheat prices helped cut production costs for maltodextrin further. Additionally, competitive pricing from exporters, coupled with a weaker euro, added downward pressure. As the quarter ended in December, a modest rise in regional and overseas quotations, along with a post-holiday surge in demand from Western countries and improved logistics, boosted prices. Manufacturers capitalized on the situation, trading at higher prices and establishing a new pricing baseline for the future.
