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A Global Outlook for Refined Corn ProductsSakharam K. Patil, Ph.D.President, S.K. Patil &AssociatesThomas L. Friedman, author of “TheWorld is Flat: A Brief History of theTwenty First Century,” theorized thatwe inhabit a “flat” world where globalizationhas leveled the playing field betweenindustrial and emerging market countries forefficient economical and technologicaltransformation. This has createdunprecedented growth opportunities for theeconomic and industrial infrastructure aroundthe world. When I left India in the late 1960s,the country was in a dismal state with percapita income of approximately 50 dollars peryear with very little hope for a rural boy suchas myself. However, today I have seen changein every field and economic structure.According to Forbes, India’s GDP hassurpassed 1 trillion dollars and the grosspurchasing power is greater than 3 trilliondollars growing at a rate of 9% annually. Theimmigrants who came for new opportunitiesfrom India to the United States are nowparticipating in a reverse migration.My personal story aside, the emerging powerof high income segments of China, India andother parts of world has created enormousdemands for energy, consumer and industrialproducts to meet the needs of higher standardsof living that call for convenience and comfortonly available so far to the western developedworld. Broad-based economic growthresulting from rising incomes, rapidurbanization and relatively high populationgrowth result in a higher propensity toconsume in the developing markets, wherechanges in dietary habits are leading todemands on processed foods and industrialproducts. The corn refining industry is poisedto be at the forefront of this change.Biorefineries: An ImportantLink in the Global EconomyBiobased products from corn using corn wetmilling technology and other similarbioprocess technologies from renewable plantand ocean sources have the most promisinggrowth potential globally. The most strikingexamples are ethanol for fuel and foodsweeteners. Besides theses high volumecommodity products, corn refining plants arehighly sophisticated bioprocess operations thatproduce a range of products such as citricacids, lactic acids, amino acids, xanthan gums,polyols and a variety of other products. Inaddition, corn refiners have the ability toproduce a number of items that help reduceour dependence on petroleum-based productssuch as 1,3 propendiol (PDO) a monomer for 3GT used to create synthetic fiber, polylacticacid (PLA) used to make biodegradable film toreplace plastic film and plyhydroxyalkanoates(PHAs), which are polymers that can beformed much like traditional plastic. Therewill be many more to come as the sciencematures.Carbohydrate-based products have thepotential to improve the sustainability ofnatural resources, environmental quality andnational security while competingeconomically to expand the U.S. and worldindustrial base. Biobased products have a widerange of uses in energy and intermediatechemicals for food, industrial, consumer andpharmaceutical applications. Agriculturalproducing rural areas are well positioned tosupport regional processing facilitiesdependent on locally grown crops.Corn refineries possess the qualities tocomprise the front end of an industrialcomplex that produces food, specialtychemicals, industrial products, fuels andpharmaceuticals. Such an expandedbiorefinery would provide cleaner and moreeconomical processes for producing existingproducts, new intermediates for manufacturingnew products and an expanded stable marketfor wet millers and for corn farmers. A largecorn wet-milling plant with its own steam andelectric cogeneration station can form thenucleus for several other plants. The wet millis the source of materials for plants thatproduce industrial enzymes, organic acids,amino acids and ethanol. The enzymes arethen used to convert starch to lower molecularweightproducts, principally variousmaltodextrins and syrups. The organic acidsare used in processed foods, detergents andpolymers. The amino acids are used as feedand food supplements and, in the case ofphenylalanine, to make aspartame. The ethanolis used as a fuel or an industrial solvent.10 | 2007 Corn Annual
Factors That Will ImpactGrowth of the IndustryThe recent growth of the corn wet millingindustry has slowed in the United Statescompared to the frantic pace in the 1980swhen food and beverage manufacturers werediscovering the benefits of high fructose cornsyrup and ethanol began to replace MTBE.While ethanol production is currently growingfaster than other product segments, it is thefood and pharmaceutical markets that areexpected to be the most important to the cornrefining industry in the United States.Globally, Asia, Eastern Europe and SouthAmerica are growing at a fast pace, which isexpected to continue for the next severalyears. In these regions, food as well asindustrial products will be important growthmarkets for refined corn products. Asia willbe the largest growth area due to its sheerpopulation size. The most surprisingdevelopment has been the growth of the paperindustry in China with very limited forestresources. China’s paper industry growth wasborn out of imported recycled fiber, but nowplantations will fuel the paper and corrugatingindustry expansion. U.S. corn refiners are in agood position to utilize their technologicaladvantage and participate in the global growthfor food and industrial products.Health and NutritionThe worldwide obesity epidemic has become amajor health concern along with diabetes.Unfortunately, carbohydrates are frequently,and erroneously, uniquely blamed for both.Another major health issue is gut health, anarea of science which focuses on thepromotion of the normal function of thegastrointestinal tract and the prevention ofserious diseases in the long term.Great opportunities exist for corn refiners tooffer solutions to the problem by developingstarches that offer low or slow digestibility andCorn: Food & Industrial UsesYearHFCSGlucose &DextroseStarchFuelAlcoholBeverageAlcoholCereals &Other ProductsTotal19903792002193491351241,40619913922102253981611281,51419924152142184261361291,53819934412192254581101401,59319944592242305331001501,69619954732272263961251611,60819964922332384291301721,69419975132292464811331821,78419985302192405261271841,82619995402222515661301851,89420005302182476281301851,93820015412172467061311862,02720025322192569961311872,32120035302282711,1681321872,51620045212222791,3231331892,66720055292292751,6031351902,96120065102392722,1171361903,46420075152432803,2001371934,568In million bushelsSource: USDA - Economic Research Service. Year beginning Sept. 1.2007 Corn Annual | 11
Page 1 and 2: CornPart of of a a Global EconomyCo
Page 3 and 4: ContentsThe Year in Review ........
Page 5 and 6: CRA had discussions with relevantpr
Page 7 and 8: As we look back on 2007, we willrem
Page 9 and 10: Refined Corn Products:Growing Marke
Page 11: 2001, China’s corn refiners had a
Page 15 and 16: 2007 Corn Annual | 13AK, CT, HI, ME
Page 17 and 18: Corn Refiners Association Member Co
Page 19 and 20: Honorary DirectorsMartin AndreasArc

Corn

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