Raw cane or beet sugar in solid form market in Vietnam

Earlier Report Observations

From 2018 to 2021, the Vietnamese raw sugar market contracted significantly, with volume falling from 2.46 million tons to 1.83 million tons. This decline was driven by increased competition from imported sugar, especially after the ASEAN Trade in Goods Agreement (ATIGA) took effect in January 2020, which allowed a surge of duty-free imports from ASEAN members. A prolonged global sugar surplus kept prices low, while high international crude oil prices raised production costs for domestic mills, discouraging local cane cultivation and sugar production.

The market stabilized and began to recover from 2022, reaching 1.86 million tons that year and 2.03 million tons in 2023. This turnaround was supported by a revival in domestic consumer demand following the COVID-19 pandemic and a government-backed increase in the cane purchase price to 1.1–1.3 million VND per ton, which incentivized farmers to expand planting. Furthermore, India's export ban on sugar from October 2023 tightened global supply, indirectly supporting the domestic market, while continued state measures to manage imports and combat smuggling provided a more stable environment for local producers.

Throughout 2018–2023, industry efforts focused on developing self-sufficient raw material zones to reduce import dependency. Consumer trends also showed a growing interest in sustainable consumption, though the market remained primarily driven by essential demand and policy interventions aimed at stabilizing supply against international volatility and illicit trade.

Production raw cane or beet sugar in solid form in Vietnam

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

Vietnam's production of raw cane or beet sugar in solid form has declined for the second year in a row. In 2020, the country produced 1 698 thousand tons, marking a significant decrease of 17.8% compared to the previous year. Looking at the period from 2017 to 2020, production fell by 14.9%, with an average annual decline of 5.2%. The highest production level was recorded in 2018 at 2 399 thousand tons, which also saw the largest increase of 20.3%.

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

In value, 2017-2020, M $ US

In 2020, the output of raw cane or beet sugar in solid form in Vietnam was valued at 1 750 million US dollars, showing a sharp drop of 24.4% from 2019. Over the four-year span from 2017 to 2020, production value decreased by 24.5%, translating to an average annual decline of 9.0%. The largest increase in value occurred in 2019, with a rise of 9.5%.

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

Exports raw cane or beet sugar in solid form from Vietnam

Exports in kind, K t

The market showed an unstable trend throughout the period. Export volumes reached their lowest point in 2017 and peaked in 2018, with a dramatic 156-fold difference between these years. In 2020, Vietnam's export volume of raw cane or beet sugar in solid form was recorded at 0.3 thousand tons, representing a sharp decline of 48.6% from the previous year. The maximum export volume was in 2018 at 8.6 thousand tons. The largest decrease occurred in 2019, with a drop of 94.0%, while the largest increase was in 2018, soaring by 15 499.5%.

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

From 2017 to 2020, Tanzania was the primary destination for Vietnam's exports in kind, accounting for 88.5% of total flows. Other markets contributed much smaller shares, forming a long tail of minor partners.

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

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

Exports in value, M $ US

Market performance showed noticeable fluctuations during this period. Export values dropped to their minimum in 2017 and climbed to a peak in 2018, with a 118-fold increase between these years. In 2020, Vietnam's exports of raw cane or beet sugar in solid form totaled 0.3 million US dollars, which is 52.8% lower than in 2019. The highest value was recorded in 2018 at 7.6 million US dollars. The largest decline happened in 2019, with a decrease of 92.3%, while the largest increase was in 2018, jumping by 11 725.8%.

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

Between 2017 and 2020, Tanzania remained the key destination for Vietnam's raw cane or beet sugar in solid form exports in value terms, making up 84.9% of total exports. Other destinations played a much less significant role.

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

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

Imports raw cane or beet sugar in solid form to Vietnam

Imports in kind, K t

Vietnam's imports of raw cane or beet sugar in solid form have increased for the third consecutive year. In 2020, imports amounted to 286.4 thousand tons, which is 142.4% higher than in 2019. Over the period from 2017 to 2020, imports grew by 355.2%, with an average annual increase of 65.7%.

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

From 2017 to 2020, Thailand played a leading role in Vietnam's imports in kind of raw cane or beet sugar in solid form, accounting for 80.0% of total flows. The remaining imports were distributed among other partners.

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

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

Imports in value, M $ US

Vietnam's imports of raw cane or beet sugar in solid form have risen for the third year in a row. In 2020, the country imported approximately 205.0 million US dollars worth of this product, up by 136.9% compared to the previous year. Over the 2017-2020 period, import value increased by 286.3%, with an average annual growth rate of 56.9%.

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

Between 2017 and 2020, Thailand remained the dominant partner for Vietnam's imports in value terms of raw cane or beet sugar in solid form, holding an 80.4% share of total flows. Other markets formed a long tail with much smaller contributions.

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

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