Corn Syrup Price Trend and Forecast

Corn Syrup Regional Price Overview

Get the latest insights on price movement and trend analysis of Corn Syrup in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Corn Syrup Price Trend for the Second Half of 2023

Asia

A gradual inclination in the prices of corn and, in turn, corn syrup was observed in the third quarter of 2023. This constructive nature of the market was based on robust production and rising interest in the trading sector. Amid China’s elevated temperatures and excessive rainfall, the disruptions in transportation rose, resulting in lower levels of import and export activities. Further, in the fourth quarter, many difficulties encircled the corn syrup market.
 

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Initially, the excessive availability and limited demand, along with a reduction in the purchasing budget of the consumers, stood as a roadblock in the inclining journey of corn syrup prices. In the later months, the ill consequences of poor harvest and export from Argentina, Brazil, and other nations eventually caused the corn syrup prices to move in a downward spiral.

Europe

The consequence of slow economic growth and a sufficient level of inventories was evident in the price trajectory of corn syrup prices during the third and fourth quarters of 2023. In the initial phase of H2 of 2023, the downstream businesses faced high supply from the Asian and other major exporting nations, which flooded the inventories amid limited demand. This gap widened in the fourth quarter, and the prices continued to decline. However, the scenario of demand shifted towards the middle of this quarter as the processing industries increased their appetite, giving a positive push to the corn syrup price trend.

North America

The North American market of corn syrup faced similar challenges as demonstrated by the Asian countries. A significant challenge came in the form of excessive harvest output during the third quarter. The strong rails of production and subdued demand from the downstream food and feed industries prompted the traders to reduce their profit margins and, in turn, the prices of corn syrup.

The initial phase of the fourth quarter was also no different from the previous one, as amid the trailing economic conditions and moderate movement in the end-user industries, the market registered no growth. However, in the last month, in view of the onset of the holiday season and rising procurement rates from overseas industries, the prices of corn syrup set on an inclining journey.

Analyst Insight

According to Procurement Resource, the price trend of Corn Syrup is estimated to showcase certain oscillations as due to the delay in winter sowing practices; the inventories might dry up at a quicker pace.
 

Corn Syrup Price Trend for the First Half of 2023

Asia

In the first quarter, the prices of corn syrup surged as production activities gained their pace after struggling because of the COVID-related restrictions and the Lunar holiday season in China. In addition to this, the domestic and international orders also improved, indicating a rise in purchasing potential among buyers. Further, the market faced severe supply chain issues that also helped the prices of corn syrup to move upwards.

Europe

The high cost of feedstock materials and challenging economic conditions helped the prices of corn syrup to incline in the European countries in the first quarter. In the second quarter, the trend was further supported by a rise in the number of inquiries from the downstream sectors, inflation in food prices, higher costs of energy production, and extreme weather conditions hampering the rates of corn production.

North America

In North America, the price trend of corn syrup saw a surge in the first quarter due to a gradual increase in new orders from both domestic and international buyers. Higher feedstock costs and drought-like conditions in several regions, leading to low inventories, supported this price hike. However, the second quarter began steadily but turned negative towards the end. Factors such as rising global inflation, increasing stockpiles, and consumer reluctance to buy had a severe impact on prices, ultimately causing the corn syrup trend to decline in North America.

Analyst Insight

According to Procurement Resource, the price trend of Corn Syrup is estimated to oscillate in the upcoming quarters as the challenging market sentiments of corn are expected to affect the prices of corn syrup negatively.

Procurement Resource provides latest prices of Corn Syrup. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.