Raw cane or beet sugar in solid form market in Argentina

Earlier Report Observations

From 2018 to 2020, Argentina's raw sugar market volume first declined then recovered. The drop to 1.99 million tons in 2019 was primarily due to increased raw sugar exports to the United States under officially allocated quotas. The market rebounded to 2.13 million tons in 2020 as production rose and export volumes eased.

Between 2021 and 2023, the market saw significant volatility. Volume fell sharply to 1.71 million tons in 2021, a year characterized by high industry profitability and concentrated ownership. A historic drought in 2022 severely impacted the cane harvest, reducing production and contributing to a further market decline to 1.58 million tons, alongside a 158% rise in production costs. That year also marked the implementation of mandatory front-of-pack warning labels for products high in sugar. In 2023, despite continued drought, the market volume recovered to 1.70 million tons, largely because raw sugar exports collapsed by 78%, retaining more supply for domestic consumption.

Production raw cane or beet sugar in solid form in Argentina

In kind, 2017-2020, K t

Between 2017 and 2020, Argentina ranked as the 30th largest global producer of raw cane or beet sugar in solid form.

Top producers of raw cane or beet sugar in solid form, 2017-2020

World map of production of raw cane or beet sugar in solid form, 2017-2020

Following a two-year decline, Argentina's production of raw cane or beet sugar in solid form rebounded in 2020. That year, output reached 2 229 K t, representing a 5.2% increase compared to 2019. Over the 2017–2020 period, production grew by 4%, which translates to an annualized growth rate of 1.3%. The lowest production level was recorded in 2019 at 2 118 K t, while the largest year-on-year decrease occurred in 2018, with a drop of 0.7%.

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

In value, 2017-2020, M $ US

In 2020, the value of Argentina's raw cane or beet sugar in solid form production stood at 999 M $ US, showing a significant increase of 19.9% from the previous year. However, looking at the entire 2017–2020 timeframe, production value decreased by 2.3%, equivalent to an annualized decline of 0.8%. The lowest value was recorded in 2019 at 833 M $ US, while the peak occurred in 2018 at 1 062 M $ US. The most substantial year-on-year drop took place in 2019, with a decrease of 21.5%.

Annual dynamics of production in Argentina in value, 2017-2020, M $ US

Exports raw cane or beet sugar in solid form from Argentina

Exports in kind, K t

Export volumes showed considerable volatility during the observed period. The lowest point was in 2018 at 36.3 K t, while the peak occurred in 2019 at 124.2 K t, resulting in a 3.4-fold fluctuation between these years. In 2020, Argentina's exports of raw cane or beet sugar in solid form totaled 97.4 K t, marking a 21.6% decrease compared to 2019. The largest decline was recorded in 2018 at 68.4%, while the most significant increase happened in 2019 with a surge of 242.6%.

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

From 2017 to 2020, the United States, Uruguay, and the United Kingdom were the leading destinations for Argentina's exports of raw cane or beet sugar in solid form by volume. The United States accounted for 63.3% of exports, Uruguay for 14.6%, and the United Kingdom for 9.3%. Together, these three countries represented 87.2% of total export flows.

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

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

Exports in value, K $ US

Export values displayed an unstable trend throughout the period. The peak was reached in 2017, followed by the lowest point in 2018, resulting in a threefold fluctuation between these years. In 2020, Argentina's exports of raw cane or beet sugar in solid form were valued at 43 652 K $ US, reflecting a substantial decline of 10.7% compared to 2019. The minimum value was recorded in 2018 at 18 088 K $ US. The largest decrease occurred in 2018 at 67.0%, while the most significant increase was in 2019 with a rise of 170.2%.

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

During the 2017–2020 period, the United States, the United Kingdom, and Uruguay remained the key partners for Argentina's exports of raw cane or beet sugar in solid form by value. The United States accounted for 67.3% of export value, the United Kingdom for 9.6%, and Uruguay for 9.0%. Collectively, these three countries represented 85.9% of total export flows.

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

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

Imports raw cane or beet sugar in solid form to Argentina

Imports in kind, K t

Import volumes exhibited an unstable trend over the timeframe. The lowest point was in 2019 at 0.1 K t, while the peak occurred in 2018 at 0.3 K t, leading to a 3.9-fold fluctuation between these years. In 2020, Argentina's imports of raw cane or beet sugar in solid form stood at 0.2 K t, showing a steep increase of 119.0% year-over-year. The largest decline was recorded in 2019 at 74.6%.

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

From 2017 to 2020, Paraguay and Colombia were the primary sources for Argentina's imports of raw cane or beet sugar in solid form by volume. Together, these two countries accounted for 91.2% of total import flows, with other markets making up the remainder.

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

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

Imports in value, K $ US

Import values showed significant volatility during the period. The minimum was recorded in 2019 at 85 K $ US, while the maximum occurred in 2018 at 442 K $ US, resulting in a 5.2-fold variation between these years. In 2020, Argentina's imports of raw cane or beet sugar in solid form were valued at 224 K $ US, indicating an uptick of 165.5% year-over-year. The largest decline took place in 2019 with a decrease of 80.9%.

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

Between 2017 and 2020, Paraguay and Colombia dominated Argentina's imports of raw cane or beet sugar in solid form by value. These two countries jointly accounted for 92.0% of total import flows, with the remaining share distributed among other markets.

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

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