Raw cane or beet sugar in solid form market in Thailand

Earlier Report Observations

Thailand's raw cane sugar market volume showed considerable movement between 2018 and 2023. The market expanded to 13.4 million tons in 2019 before a sharp contraction to 5.2 million tons in 2020. A recovery phase followed, with volume climbing to 6.6 million tons by 2022 and then stabilizing around 6.6 million tons in 2023.

The period from 2020 onward saw a rebound in domestic production after the initial drop, while import volumes began a noticeable rise from negligible levels earlier in the period. By 2024, trade flows shifted significantly, with imports increasing to 142 thousand tons and exports decreasing to 1.8 million tons.

In 2024, the market environment was shaped by major capacity expansion, as the state-influenced Khon Kaen Sugar Industry (KSL) opened a new factory in Sa Kaeo Province to boost operational efficiency. Concurrently, improved sugarcane yields and a favorable production forecast pointed to stronger domestic supply, while global supply chain disruptions and regional conflicts added pressure on international trade dynamics.

Production raw cane or beet sugar in solid form in Thailand

In kind, 2017-2020, K t

From 2017 to 2020, Thailand held the 11th position globally in the production 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

Thailand's production of raw cane or beet sugar in solid form fell for the second year in a row. In 2020, the country produced 8 294 thousand tonnes, marking a sharp decline of 40.9% compared to 2019. Over the 2017-2020 period, production dropped by 23.1%, with an average annual decrease of 8.4%. The highest output was recorded in 2018 at 15 435 thousand tonnes, which also saw the largest increase of 43.2%.

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

In value, 2017-2020, M $ US

The value of raw cane or beet sugar in solid form production in Thailand continued to decline for the second consecutive year. In 2020, output was valued at 2 423 million US dollars, down 40.5% from the previous year. Between 2017 and 2020, production value fell by 48.2%, translating to an average annual decline of 19.7%. The peak value occurred in 2018 at 4 752 million US dollars, which also experienced the largest increase of 1.6%.

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

Exports raw cane or beet sugar in solid form from Thailand

Exports in kind, K t

Market performance showed significant fluctuations during this period. Thailand's exports of raw cane or beet sugar in solid form varied widely, with a 7-fold difference between the low of 627 thousand tonnes in 2019 and the high of 4 373 thousand tonnes in 2018. In 2020, exports surged to 3 106 thousand tonnes, a dramatic increase of 395.3% compared to 2019. The largest decline was recorded in 2019 at 85.7%.

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

From 2017 to 2020, Indonesia, Malaysia, and Japan were the primary destinations for Thailand's exports of raw cane or beet sugar in solid form. Indonesia accounted for 66.1% of exports in kind, Malaysia for 10.3%, and Japan for 7.3%, together making up 83.8% of total exports.

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

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

Exports in value, M $ US

The market displayed an unstable trend over this timeframe. Export values fluctuated significantly, with a 7.4-fold difference between the minimum of 182 million US dollars in 2019 and the maximum of 1 346 million US dollars in 2018. In 2020, Thailand's export value reached 907 million US dollars, a substantial gain of 399.1% compared to 2019. The largest decline occurred in 2019 at 86.5%.

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

Between 2017 and 2020, Indonesia, Malaysia, and Japan emerged as the key markets for Thailand's exports in value terms. Indonesia represented 65.1% of export value, Malaysia 9.2%, and Japan 8.3%, collectively accounting for 82.6% of total flows.

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

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

Imports raw cane or beet sugar in solid form to Thailand

Imports in kind, K t

The data indicates irregular changes, reflecting a volatile market environment. Import volumes varied dramatically, with a 58-fold difference between the low of 0.0 thousand tonnes in 2019 and the high in 2020. In 2020, Thailand imported raw cane or beet sugar in solid form, marking a sharp advance of 5,684.7% compared to the previous year. The largest decline was recorded in 2019 at 60.5%.

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

From 2017 to 2020, India, Australia, and Asia, not elsewhere specified, were the largest suppliers of raw cane or beet sugar in solid form to Thailand. India contributed 47.0% of imports in kind, Australia 25.4%, and Asia, not elsewhere specified 12.2%, together forming 84.6% of total imports.

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

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

Imports in value, M $ US

The market exhibited volatility during the observed period. Import values showed a 27-fold shift between the minimum of 0.0 million US dollars in 2019 and the maximum in 2020. In 2020, Thailand's imports of raw cane or beet sugar in solid form reached 0.2 million US dollars, a sharp increase of 2,589.3% compared to the previous year. The largest decline was recorded in 2018 at 59.5%.

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

Throughout 2017-2020, Asia, not elsewhere specified, India, and Australia constituted the core of Thailand's imports in value terms. Asia, not elsewhere specified accounted for 27.7% of import value, India for 26.7%, and Australia for 17.7%, together taking 72.2% of total flows.

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

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