Raw cane or beet sugar in solid form market in Nicaragua

Earlier Report Observations

From 2018 to 2020, Nicaragua's sugar production remained consistently high, supported by expectations of a record harvest and the expansion of export quotas to markets like Taiwan. The hosting of the international Bonsucro Week in 2018 further strengthened the country's global industry standing. A decline in world sugar prices in 2019 reduced export revenue, while increased export volumes that year contributed to a contraction in the domestic market to 384 thousand tons. By 2020, lower export volumes allowed the domestic market to rebound to 484 thousand tons.

Between 2021 and 2023, production levels stabilized around 765 thousand tons annually. The 2021-2022 harvest achieved a record output, and a rise in international crude sugar prices to $20 per quintal enhanced the sector's value despite higher fertilizer and fuel costs linked to Western sanctions on Russia. The National Sugar Producers Committee helped maintain stable domestic prices. The subsequent 2022-2023 harvest faced production challenges from excessive rainfall and limited sunlight, alongside operational constraints such as shortages of helicopters for crop spraying. This led to a reduction in output, but a significant drop in export volumes in 2023 enabled the domestic market to expand sharply to 517 thousand tons.

In 2024, sugar export value grew by 23.5%, driven by higher volumes and successful market diversification. Exports surged to mainland China by 332%, and significant increases were recorded to Peru, Belgium, and South Korea. The industry remains central to Nicaragua's economy, with ongoing government monitoring to ensure supply. However, the sector faces concerns over potential suspension from the DR-Cafta trade agreement, which provides crucial tariff preferences for access to the United States market.

Production raw cane or beet sugar in solid form in Nicaragua

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

In 2020, Nicaragua produced 766.6 thousand tons of raw cane or beet sugar in solid form, representing a 1.2% increase from the previous year. Over the period from 2017 to 2020, production grew by 4.5%, which translates to an average annual growth rate of 1.5%. The highest production level was recorded in 2018 at 775.7 thousand tons. The most significant decline occurred in 2019, with a drop of 2.3%, while the largest increase was observed in 2018, reaching 5.7%.

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

In value, 2017-2020, M $ US

Following a two-year decline, production of raw cane or beet sugar in solid form in Nicaragua saw an upturn. In 2020, the output was valued at 254.3 million US dollars, reflecting a gradual year-over-year increase of 5.0%. However, from 2017 to 2020, overall production value decreased by 20.8%, averaging an annual decline of 7.5%. The lowest value was recorded in 2019 at 242.1 million US dollars, which also marked the largest decline of 21.1% during this period.

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

Exports raw cane or beet sugar in solid form from Nicaragua

Exports in kind, K t

After two consecutive years of growth, exports of raw cane or beet sugar in solid form from Nicaragua experienced a decline. In 2020, exports totaled 282.7 thousand tons, showing a significant drop of 24.4% compared to the previous year. Over the 2017-2020 period, exports increased by 11.7%, with a compound annual growth rate of 3.8%. The peak export volume was recorded in 2019 at 373.8 thousand tons, which also saw the largest increase of 22.6%.

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

From 2017 to 2020, the United States, South Korea, and China were the primary destinations for Nicaragua's exports in kind. The United States accounted for 19.4% of exports, South Korea for 18.1%, and China for 16.0%. Together, these three countries represented 53.6% of total export flows.

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

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

Exports in value, M $ US

Exports of raw cane or beet sugar in solid form from Nicaragua declined for the second year in a row. In 2020, the value of these exports was 93.8 million US dollars, which is 21.5% lower than in 2019. Over the 2017-2020 period, export value decreased by 15.3%, with an average annual decline of 5.4%. The highest export value was recorded in 2018 at 120.7 million US dollars, which also experienced the largest increase of 9.0%.

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

During 2017-2020, the United States, China, and South Korea consistently held leading positions in Nicaragua's export structure by value. The United States accounted for 21.3% of exports, China for 16.6%, and South Korea for 15.9%. Collectively, these three countries made up 53.9% of total export flows.

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

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

Imports raw cane or beet sugar in solid form to Nicaragua

Imports in kind, K t

The import market showed an unstable trend throughout the period. Imports reached their highest point in 2018 and fell to their lowest in 2020, with a 6 356-fold difference between these years. In 2020, imports of raw cane or beet sugar in solid form into Nicaragua totaled 0.0 thousand tons, down by 99.9% from the previous year. The maximum import volume was recorded in 2018 at 0.0 thousand tons, which also saw the largest increase of 175.5%.

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

From 2017 to 2020, Guatemala and Canada were the dominant sources for Nicaragua's imports in kind. Together, they accounted for 81.1% of total import flows, with the remaining share going to other markets.

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

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

Imports in value, M $ US

Market behavior was characterized by volatility during these years. Imports peaked in 2017 and reached their lowest point in 2020, with a 1 398-fold difference between these years. In 2020, Nicaragua imported 0.0 million US dollars worth of raw cane or beet sugar in solid form, marking a decline of 99.8% from the previous year. The largest increase was recorded in 2019 at 203.5%.

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

Throughout 2017-2020, Canada and the United States remained the key partner countries for Nicaragua's imports by value. They held a combined share of 92.7% of total import flows, while other partners accounted for the remainder.

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

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