Raw cane or beet sugar in solid form market in South America

Earlier Report Observations

The South American market for raw cane or beet sugar in solid form showed moderate growth from 20 241 thousand tons in 2018 to 22 424 thousand tons in 2023. Early private investment and expansion of sugarcane cultivation in Peru laid a foundation for production, while international price distortions from Indian sugar dumping affected competitive dynamics. The market volume dipped in 2021 to 19 592 thousand tons, primarily due to the La Niña weather phenomenon in Colombia, which reduced sugarcane harvests and raised production costs, constraining supply.

A strong recovery followed, with volume reaching 21 507 thousand tons in 2022. This rebound occurred alongside the Russia-Ukraine conflict, which increased fertilizer costs and pressured production in Peru, and coincided with high international prices due to global crop issues that incentivized output. Market growth continued in 2023, driven by increased sugar consumption across Latin America from higher demand for processed foods, rising disposable incomes, and growing use in pharmaceutical and cosmetic sectors.

By 2024, Argentina achieved record sugar exports, fueled by reduced production in Brazil, India, and Thailand, while Brazil itself projected record sugar output despite adverse weather. Expansion of cultivated area in Argentina and production growth in Colombia further characterized the regional landscape, supported by evolving trade policies and rising demand for biofuels and organic sugar.

Production raw cane or beet sugar in solid form in South America

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

Following two consecutive years of decline, South America's production of raw cane or beet sugar in solid form rebounded. In 2020, the region produced 47 330 thousand tons, marking a significant 29.4% increase compared to the previous year. Over the 2017-2020 period, production grew by 2.6%, translating to an average annual growth rate of 0.9%. The lowest production level was recorded in 2019 at 36 572 thousand tons, while the steepest decline occurred in 2018 with a 17.2% drop.

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

In value, 2017-2020, M $ US

After experiencing a two-year decrease, the production value of raw cane or beet sugar in solid form in South America showed recovery. In 2020, output was valued at 13 485 million US dollars, representing a 26.7% increase from the previous year. However, looking at the entire 2017-2020 period, production value actually declined by 26.6%, which corresponds to an average annual decrease of 9.8%. The lowest value was recorded in 2019 at 10 640 million US dollars, with the most substantial decline occurring in 2018 at 36.1%.

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

Exports raw cane or beet sugar in solid form from South America

Exports in kind, K t

Following two years of contraction, South America's exports of raw cane or beet sugar in solid form to international markets rebounded strongly. In 2020, exports reached 27 056 thousand tons, representing a sharp 65.0% increase compared to 2019. Over the 2017-2020 period, exports grew by 13.4%, with an average annual growth rate of 4.3%. The lowest export volume was recorded in 2019 at 16 398 thousand tons, while the most significant decline occurred in 2018 with a 23.2% drop.

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

The export partner structure for raw cane or beet sugar in solid form from South America remained highly diversified between 2017 and 2020. Algeria accounted for 10.5% of exports, Bangladesh for 10.0%, and China for 8.3%, with these three countries together representing just 28.8% of total export flows. No single country achieved a dominant position in the market during this period.

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

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

Exports in value, M $ US

After two years of decline, South America's export value of raw cane or beet sugar in solid form showed recovery. In 2020, exports amounted to 7 709 million US dollars, indicating a substantial 61.6% increase from the previous year. However, over the entire 2017-2020 period, export value actually decreased by 18.9%, which corresponds to an average annual decline of 6.7%. The lowest value was recorded in 2019 at 4 771 million US dollars, with the most significant drop occurring in 2018 at 40.7%.

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

Between 2017 and 2020, South America's export value of raw cane or beet sugar in solid form was distributed across a broad range of trading partners. Algeria accounted for 10.2% of export value, Bangladesh for 9.8%, and India for 7.9%, with these three countries together representing just 27.9% of total export flows.

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

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

Imports raw cane or beet sugar in solid form to South America

Imports in kind, K t

Import volumes showed considerable volatility during the period, reflecting an unstable market environment. Imports reached their lowest point in 2019 at 115 thousand tons, then rebounded to 220 thousand tons in 2020, representing a 91.6% increase from the previous year. The difference between the peak in 2017 and the trough in 2019 was 4.7-fold. The most significant decline occurred in 2019 with a 68.5% drop.

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

Between 2017 and 2020, South America's imports of raw cane or beet sugar in solid form were sourced from a wide range of trading partners. Guatemala accounted for 12.9% of import volume, Nicaragua for 3.0%, and El Salvador for 2.8%, with these three countries together representing just 18.7% of total import flows. The remaining 81.3% came from numerous other countries.

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

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

Imports in value, M $ US

Import values exhibited noticeable fluctuations throughout the period, indicating variable market performance. Imports reached their lowest point in 2019 at 97 million US dollars, then increased to 170 million US dollars in 2020, representing a steep 75.7% rise from the previous year. The difference between the high in 2017 and the low in 2019 was 3.4-fold. The most significant decline occurred in 2019 with a 60.3% drop.

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

Between 2017 and 2020, the import value structure for raw cane or beet sugar in solid form in South America showed balanced distribution rather than concentration. Guatemala accounted for 13.4% of import value, Nicaragua for 3.6%, and Cuba for 3.3%, with these three countries together representing 20.3% of total import flows. The remaining 79.7% was distributed among many other trading partners.

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

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