Sucrose in solid form market in ECOWAS

Earlier Report Observations

The sucrose market in ECOWAS expanded steadily from 3 318 thousand metric tons in 2018 to a peak of 3 866 thousand metric tons in 2021. This growth period began amidst a shift in the global sugar landscape, as the end of the EU's Common Agricultural Policy production quotas in 2018 exposed producers to greater world price volatility, intensifying competitive pressures across international supply chains.

Market volume contracted to 3 674 thousand metric tons in 2022. This decline was driven by a sharp global price increase for sugar, which rose by 45% for key benchmarks, compounded by supply constraints after unfavorable weather and floods in Brazil—a major exporter—curtailed sugarcane production and tightened worldwide availability.

A recovery followed in 2023, with consumption rising to 3 806 thousand metric tons. This rebound was facilitated by a record-breaking sugar harvest in Brazil, which created a global supply surplus and exerted downward pressure on world prices, making sucrose more accessible for the ECOWAS market.

Production sucrose in solid form in ECOWAS

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

ECOWAS has seen its production of sucrose in solid form grow for the third year in a row. In 2020, the region produced 1 936 K t of sucrose in solid form, which represents a 1.4% increase compared to the previous year. Looking at the period from 2017 to 2020, production rose by 22.4%, translating to an average annual growth rate of 7.0%.

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

Exports sucrose in solid form from ECOWAS

Exports in kind, K t

The market exhibited significant volatility during these years. Exports reached their lowest point in 2017 and peaked in 2019, with a 4.9-fold difference between these two years. In 2020, ECOWAS shipped 29 K t of sucrose in solid form abroad, a decrease of 40.8% from the prior year. The highest export volume was recorded in 2019 at 48 K t, while the largest year-over-year increase occurred in 2018, surging by 232.4%.

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

Between 2017 and 2020, Chad and Mauritania were notable buyers of sucrose in solid form from ECOWAS, together accounting for 2.5% of total exports in volume.

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

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

Exports in value, M $ US

The market showed considerable volatility over this period. Export values hit their lowest point in 2017 and reached their maximum in 2019, with a 2.3-fold swing between these years. In 2020, ECOWAS's exports of sucrose in solid form amounted to 17.3 M $ US, marking a sharp decline of 43.1% compared to the previous year. The peak value was recorded in 2019 at 30.4 M $ US, and the largest increase occurred in 2018, rising by 124.6%.

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

From 2017 to 2020, Chad and Mauritania maintained their roles as the primary buyers of sucrose in solid form from ECOWAS, jointly representing 6.5% of total exports in value.

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

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

Imports sucrose in solid form to ECOWAS

Imports in kind, K t

ECOWAS has experienced a third consecutive year of growth in sucrose in solid form imports. In 2020, the region imported 1 844 K t of sucrose in solid form, reflecting a modest increase of 6.2% year-over-year. Over the period from 2017 to 2020, imports grew by 23.4%, which corresponds to an average annual rate of 7.3%.

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

During 2017–2020, Brazil, Guatemala, and France were the leading sources for imports in volume, with shares of 63.8%, 7.6%, and 7.4% of imports in kind, respectively. Together, these three countries accounted for 78.8% of total import flows.

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

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

Imports in value, M $ US

Following a two-year decline, ECOWAS saw an uptick in sucrose in solid form import volumes. In 2020, imports totaled 637.7 M $ US, indicating an 18.5% increase from the previous year. Over the 2017-2020 period, imports decreased by 2.1%, with a compound annual growth rate of -0.7%. The lowest value was recorded in 2019 at 537.9 M $ US, which also saw the largest decline of 11.2% that year.

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

From 2017 to 2020, Brazil, France, and Guatemala emerged as the key markets for imports in value terms, with shares of 61.6%, 8.6%, and 7.3% of imports in value, respectively. Collectively, these three countries represented 77.5% of total import flows.

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

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