Raw cane or beet sugar in solid form market in ASEAN

Earlier Report Observations

The ASEAN market for raw cane or beet sugar in solid form declined from 24.2 million tons in 2018 to 19.0 million tons in 2020, with a particularly sharp contraction in 2020. In value terms, the market size fell from $15.0 billion to $9.6 billion over the same two-year period.

Market volume recovered to 19.8 million tons in 2021, a growth supported by increased sugar production in Thailand that year due to higher sugarcane yields and improved cane sugar yield. The expansion continued in 2022, with the market reaching 21.2 million tons. In 2023, physical volume dipped slightly to 20.1 million tons, but the market value rose significantly to $14.5 billion, reflecting higher price levels.

In 2024, global factors including Brazil's dominant market share and low sugar prices in India resulting from ample supply influenced trade and competitive dynamics within the ASEAN region.

Production raw cane or beet sugar in solid form in ASEAN

In kind, 2017-2020, K t

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

ASEAN's production of raw cane or beet sugar in solid form declined for the second year in a row. In 2020, the region produced 14 660 thousand tons, marking a sharp drop of 29.1% compared to 2019. Looking at the period from 2017 to 2020, production fell by 17.8%, which translates to an average annual decline of 6.3%. The highest production level was recorded in 2018 at 22 468 thousand tons, with that year also seeing the largest increase of 26.0%.

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

In value, 2017-2020, M $ US

ASEAN's production of raw cane or beet sugar in solid form, measured in value terms, continued its downward trend for the second consecutive year. In 2020, the output was valued at 7 897 million US dollars, representing a decrease of 19.4% from the previous year. Over the 2017-2020 period, production value declined by 26%, averaging an annual drop of 9.5%. The peak value occurred in 2018 at 14 177 million US dollars, which also saw the largest increase of 32.8%. In contrast, 2019 experienced the most significant decline of 30.9%.

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

Exports raw cane or beet sugar in solid form from ASEAN

Exports in kind, K t

Export volumes of raw cane or beet sugar in solid form from ASEAN showed considerable volatility during this period. The lowest point was in 2019 at 440 thousand tons, while exports peaked in 2018 at 2 749 thousand tons—a difference of 6.2 times between these two years. In 2020, shipments reached 1 990 thousand tons, reflecting a substantial increase of 352.0% compared to 2019. The most pronounced decline occurred in 2019, with a drop of 84.0%.

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

Between 2017 and 2020, ASEAN's exports of raw cane or beet sugar in solid form were distributed across multiple partners without any single country dominating. China accounted for 8.9% of export volumes, Japan for 6.6%, and South Korea for 5.5%. Together, these three countries represented just 21.1% of total exports, highlighting the fragmented nature of the market.

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

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

Exports in value, M $ US

Export values for raw cane or beet sugar in solid form from ASEAN experienced significant fluctuations. The lowest value was recorded in 2019 at 209 million US dollars, while the highest occurred in 2018 at 1 734 million US dollars—a peak-to-trough ratio of 8.3 times. In 2020, exports amounted to 1 072 million US dollars, showing a sharp rise of 414.1% from the previous year. The most substantial decline was in 2019, with an 88.0% drop.

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

From 2017 to 2020, key buyers of ASEAN's raw cane or beet sugar in solid form included China, with a 12.4% share of export value, the United States at 7.2%, and Japan at 6.8%. However, their combined share reached only 26.4% of total exports, while the remaining 73.6% was spread across numerous other trading partners.

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

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

Imports raw cane or beet sugar in solid form to ASEAN

Imports in kind, K t

Import volumes of raw cane or beet sugar in solid form into ASEAN displayed an unstable pattern. The lowest point was in 2019 at 3 523 thousand tons, while imports peaked in 2020 at 6 367 thousand tons—a gap of 1.8 times between these years. In 2020, imports rose by 80.7% compared to 2019. The most notable decline occurred in 2019, with a decrease of 20.6%.

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

During the 2017-2020 period, no single supplier dominated ASEAN's imports of raw cane or beet sugar in solid form. Brazil accounted for 26.6% of import volumes, Australia for 13.6%, and South Africa for 4.5%. Together, these three countries made up 44.7% of total imports, with the rest distributed among many smaller partners.

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

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

Imports in value, M $ US

After two years of decline, imports of raw cane or beet sugar in solid form into ASEAN rebounded in 2020, reaching 2 743 million US dollars—an increase of 38.7% from the previous year. Over the 2017-2020 period, import values decreased by 7.5%, averaging an annual decline of 2.6%. The lowest value was in 2019 at 1 977 million US dollars, which also saw the largest drop of 22.2%.

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

From 2017 to 2020, ASEAN's imports of raw cane or beet sugar in solid form, in value terms, were spread across a diverse range of countries. Brazil held a 27.0% share, Australia 13.3%, and South Africa 4.0%. Collectively, these three suppliers accounted for 44.2% of total import value, with the remainder shared among numerous other partners.

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

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