Primary sugar crops market in Vietnam

Earlier Report Observations

Vietnam's primary sugar crops market volume declined sharply from 17.9 million tons in 2018 to 10.7 million tons in 2021, a drop of approximately 40% over three years.

A turnaround began in 2022, when market volume grew by 3% to 11.1 million tons, followed by a further 7% increase to 11.8 million tons in 2023. This recovery coincided with the implementation of anti-dumping and countervailing duties, which shielded domestic producers from import competition. At the same time, industry consolidation reduced the number of operating sugar mills to 24, improving the efficiency of remaining facilities.

The expansion continued in 2023 as sugarcane planting area reached nearly 175,000 hectares, with 93% of it linked to sugar mills through supply agreements. These farmer-mill linkages, along with support for high-yield varieties, bolstered production despite ongoing challenges from sugar smuggling. By 2024, the sector maintained its regional productivity leadership by focusing on mechanization and improved cultivation practices.

Production primary sugar crops in Vietnam

In kind, 2017-2020, K t

Vietnam was among the world's leading producers of primary sugar crops from 2017 to 2020, ranking 20th globally by production volume.

Top producers of primary sugar crops, 2017-2020

World map of production of primary sugar crops, 2017-2020

Primary sugar crops production in Vietnam declined for the third consecutive year. In 2020, Vietnam produced 11 535 K t of primary sugar crops, which represents a 26.5% decrease compared to the previous year. Over the period from 2017 to 2020, production fell by 37.2%, with a compound annual growth rate of -14.3%.

Annual dynamics of production in Vietnam in kind, 2017-2020, K t

Exports primary sugar crops from Vietnam

Exports in kind, t

In 2020, Vietnam's primary sugar crops export volume reached 12 030 t, marking a 58.2% increase from the previous year. Between 2017 and 2020, exports grew by 82.8%, translating to an annualized rate of 22.3%. The largest decline occurred in 2019, with a drop of 12.8%.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, t

From 2017 to 2020, the structure of exports in kind was dominated by a single market: the United States, which accounted for 100.0% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, K $ US

Exported primary sugar crops volumes from Vietnam increased for the third consecutive year. In 2020, Vietnam exported 2 301 K $ US of primary sugar crops, showing a sharp improvement of 95.2% year-over-year. Between 2017 and 2020, exports surged by 269.7%, equating to an annualized rate of 54.6%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, K $ US

From 2017 to 2020, China, the United States, and South Korea continued to be the main buyers of primary sugar crops from Vietnam in value terms. China accounted for 46.3% of exports, the United States for 30.2%, and South Korea for 13.5%, jointly forming 90.1% of total exports in value terms.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Vietnam in value, 2017-2020

Imports primary sugar crops to Vietnam

Imports in kind, t

After a two-year advance, primary sugar crops volumes imported by Vietnam declined. In 2020, imports stood at 3 973 t, constituting a robust decline of 19.4% versus the previous year. Between 2017 and 2020, imports increased by 39.4%, equating to an annualized rate of 11.7%. The maximum volume was recorded in 2019 at 4 930 t, which also saw the largest increase of 54.6%.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, t

Throughout 2017 to 2020, Cambodia remained the almost exclusive supplier of primary sugar crops to Vietnam, with a share of 100.0% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, K $ US

After a two-year increase, primary sugar crops deliveries to Vietnam declined. In 2020, Vietnam imported a total of 2 854 K $ US of primary sugar crops, marking a steep decline of 40.9% compared to the previous year. Between 2017 and 2020, imports decreased by 5.6%, equating to an annualized rate of -1.9%. The maximum value was recorded in 2019 at 4 826 K $ US, which also experienced the largest increase of 33.9%.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, K $ US

Over 2017 to 2020, Cambodia was the key and almost sole market for imports in value terms of primary sugar crops to Vietnam, accounting for 99.9% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Vietnam in value, 2017-2020