Sharp decline in Southeast Asian demand for corn starch from Ukraine

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.