Sucrose in solid form market in Asia

Earlier Report Observations

The liberalization of the EU sugar market after the quota system ended in October 2017 increased competition and aligned prices with global levels. Market volume grew to 84.4 thousand tonnes in 2019, but adverse climatic conditions such as droughts and floods in 2020 damaged sugar beet crops, causing an 8.7% drop to 77.1 thousand tonnes.

Market recovery began in 2021, supported by the full opening of European borders to Ukrainian sugar that year, which increased import availability alongside rebounding domestic production. The adoption of a new crop loss compensation scheme for climate risks in March 2022 further helped stabilize output, pushing market volume to 81.8 thousand tonnes by 2022.

In 2023, market volume reached 84.5 thousand tonnes, sustained by high Brazilian sugar production that influenced global prices and continued imports of Ukrainian sugar into Europe. French production remained stable, contributing to the overall market volume.

Production sucrose in solid form in Asia

In kind, 2017-2020, K t

Top producers of sucrose in solid form, 2017-2020

World map of production of sucrose in solid form, 2017-2020

Asia's production of sucrose in solid form declined after two years of growth. In 2019, output reached its peak at 81 435 K t. However, in 2020, production fell to 76 298 K t, representing a 6.3% decrease from the previous year. The largest annual increase occurred in 2018, when production grew by 6.7%.

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

In value, 2017-2020, M $ US

Asia's production of sucrose in solid form declined for the second consecutive year. In 2018, output reached its highest value at 74 082 M $ US. By 2020, production had dropped to 48 478 M $ US, marking a 24.9% decrease from the previous year. Over the period from 2017 to 2020, production decreased by 28.5%, which equates to an annualized decline of 10.6%. The largest annual increase was recorded in 2018 at 9.2%.

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

Exports sucrose in solid form from Asia

Exports in kind, K t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2019 at 1 269 K t, then rebounded to 3 491 K t in 2020, reflecting a 175.1% year-over-year increase. The difference between the maximum in 2017 and the minimum in 2019 was 3.7-fold. The largest annual decline occurred in 2019, when exports fell by 64.7%.

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

From 2017 to 2020, Asia's exports of sucrose in solid form were highly diversified geographically. Sudan accounted for 8.1% of exports in kind, followed by Asia, not elsewhere specified at 7.1%, and Djibouti at 1.4%. Together, these three markets represented only 16.6% of total export flows, with the remaining 83.4% distributed among numerous smaller partner countries.

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

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

Exports in value, M $ US

The data shows irregular changes, indicating a volatile market environment. Exports reached their peak in 2017, then fell to their lowest point in 2019 at 1 006 M $ US—a fluctuation of 4.2 times. In 2020, exports rebounded to 2 218 M $ US, marking a 120.5% increase compared to 2019. The largest annual decline occurred in 2019, when exports fell by 69.3%.

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

From 2017 to 2020, Asia's exports of sucrose in solid form were supplied to a broad set of markets. Sudan accounted for 7.7% of exports in value terms, followed by Asia, not elsewhere specified at 6.6%, and Djibouti at 1.2%. Together, these three destinations represented only 15.5% of total export value, with the remaining 84.5% coming from many smaller markets.

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

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

Imports sucrose in solid form to Asia

Imports in kind, K t

After two years of decline, Asia's imports of sucrose in solid form increased. In 2019, imports reached their lowest point at 4 229 K t. In 2020, imports rose slightly to 4 268 K t, marking a 0.9% increase from the previous year. Over the period from 2017 to 2020, imports decreased by 28.4%, with a compound annual growth rate of -10.6%. The largest annual decline occurred in 2019, when imports fell by 23.6%.

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

From 2017 to 2020, Asia's imports of sucrose in solid form were not concentrated on a few key markets. Brazil accounted for 7.0% of imports in kind, followed by Russia at 6.8%, and Ukraine at 3.2%. Together, these three countries represented only 17.0% of total import flows.

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

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

Imports in value, M $ US

After two years of reduction, Asia's imports of sucrose in solid form increased. In 2019, imports reached their lowest point at 2 612 M $ US. In 2020, imports rose to 3 651 M $ US, reflecting a 39.7% year-over-year gain. Over the period from 2017 to 2020, imports decreased by 16.9%, with a compound annual growth rate of -6.0%. The largest annual decline occurred in 2019, when imports fell by 28.5%.

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

From 2017 to 2020, sucrose in solid form was supplied to Asia from a broad set of markets. Brazil accounted for 6.7% of imports in value terms, followed by Russia at 6.3%, and Ukraine at 3.3%. Together, these three sources represented only 16.3% of total import value, with the remaining 83.7% coming from many smaller destinations.

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

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