Sucrose in solid form market in Malaysia

Earlier Report Observations

The market volume for sucrose in solid form in Malaysia showed notable fluctuations from 2018 to 2023. Starting at 1.80 million tons in 2018, it dropped to 1.64 million tons in 2019, then recovered to 1.77 million tons in 2020. The following years saw a decline to 1.68 million tons in 2021 and a more pronounced contraction to 1.51 million tons in 2022, before a partial rebound to 1.59 million tons in 2023. Domestic production mirrored this volatility, falling from 1.79 million tons in 2018 to 1.59 million tons in 2019, then jumping to 1.91 million tons in 2020 and easing thereafter.

In January 2022, the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) introduced a buffer stock system for white refined sugar, mandating the two major producers, Central Sugar Refinery Sdn Bhd (CSR) and MSM Malaysia Holdings Bhd (MSM), to maintain reserves from the start of the year to prevent domestic supply shortages. This measure was coupled with ongoing price controls on standard white sugar to ensure affordability for all income groups, while premium refined sugar remained market-priced. These regulatory actions aimed to stabilize the market and secure availability, likely mitigating potential sharper declines in consumption during a period of market adjustment.

Production sucrose in solid form in Malaysia

In kind, 2018-2021, K t

From 2018 to 2021, Malaysia ranked 20th globally in terms of production volume for sucrose in solid form.

Top producers of sucrose in solid form, 2018-2021

World map of production of sucrose in solid form, 2018-2021

In 2021, Malaysia produced 1 738 K t of sucrose in solid form, marking a modest decline of 9.1% from 2020. Over the period from 2018 to 2021, production decreased by 2.9%, which translates to an annualized rate of 1.0%. The lowest production level was recorded in 2019 at 1 590 K t, while the peak occurred in 2020 with 1 913 K t. The most significant drop was observed in 2019, falling by 11.2%, whereas the largest increase took place in 2020, rising by 20.2%.

Annual dynamics of production in Malaysia in kind, 2018-2021, K t

In value, 2018-2021, M $ US

Sucrose in solid form production in Malaysia grew for the second year in a row. In 2021, the output was valued at 928.0 M $ US, up by 14.3% compared to the previous year. Between 2018 and 2021, production increased by 21.2%, equating to an annualized growth rate of 6.6%. The lowest value was recorded in 2019 at 666.5 M $ US. The most substantial decline occurred in 2019, dropping by 13.0%, while the largest increase was in 2020, rising by 21.8%.

Annual dynamics of production in Malaysia in value, 2018-2021, M $ US

Exports sucrose in solid form from Malaysia

Exports in kind, K t

The market experienced notable fluctuations during this period. Exports reached their lowest point in 2019 at 102.6 K t and peaked in 2021 at 286.0 K t, showing a 2.8-fold difference. In 2021, exported volumes of sucrose in solid form from Malaysia amounted to 286.0 K t, which is 13.9% higher than in 2020. The most significant decline was recorded in 2019, falling by 11.0%, while the largest increase occurred in 2020, surging by 144.8%.

Annual dynamics of product's exports from Malaysia in kind, 2018-2021, K t

From 2018 to 2021, the top destinations for exports of sucrose in solid form from Malaysia were Vietnam, accounting for 45.4% of exports in kind, Singapore with 10.0%, and South Korea at 8.1%. Together, these three countries represented 63.5% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Malaysia in kind, 2018-2021

Exports in value, M $ US

The market displayed considerable volatility over these years. Exports hit their lowest point in 2019 at 43.0 M $ US and reached their peak in 2021 at 152.7 M $ US, reflecting a 3.6-fold gap. In 2021, the value of exported sucrose in solid form from Malaysia came to 152.7 M $ US, showing a year-on-year improvement of 43.2%. The most significant decline was in 2019, dropping by 12.8%, while the largest increase was in 2020, rising by 147.9%.

Annual dynamics of product's exports from Malaysia in value, 2018-2021, M $ US

Between 2018 and 2021, Vietnam was the leading destination for exports in value terms, accounting for 47.7%, followed by Singapore at 9.6%, and South Korea with 7.3%. Collectively, these three markets made up 64.6% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Malaysia in value, 2018-2021

Imports sucrose in solid form to Malaysia

Imports in kind, K t

The market was characterized by volatility during these years. Imports fell to their lowest level in 2020 at 107.5 K t and peaked in 2021 at 230.7 K t, with a 2.1-fold difference. In 2021, import volumes of sucrose in solid form into Malaysia stood at 230.7 K t, which is 114.6% higher than in 2020. The most substantial decline occurred in 2020, dropping by 29.8%.

Annual dynamics of product's imports to Malaysia in kind, 2018-2021, K t

From 2018 to 2021, Thailand and India accounted for the majority of imports in kind of sucrose in solid form to Malaysia, while other markets played a less significant role.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Malaysia in kind, 2018-2021

Imports in value, M $ US

The market exhibited volatility over this period. Imports reached their lowest point in 2020 at 47.8 M $ US and their highest in 2021 at 120.7 M $ US, showing a 2.5-fold gap. In 2021, the value of sucrose in solid form deliveries to Malaysia totaled 120.7 M $ US, representing a sharp rise of 152.7% compared to the previous year. The largest decline was recorded in 2020, falling by 24.0%.

Annual dynamics of product's imports to Malaysia in value, 2018-2021, M $ US

Between 2018 and 2021, Thailand and India were the dominant suppliers of sucrose in solid form to Malaysia, together accounting for 90.8% of total imports in value terms, with other partners contributing to a lesser extent.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Malaysia in value, 2018-2021