Sucrose in solid form market in Nicaragua

Earlier Report Observations

Nicaragua's market for chemically pure sucrose in solid form experienced a sharp contraction in 2019, with volume falling to 157 thousand tons and value to 54.4 million USD from 267 thousand tons and 106.5 million USD the previous year. A strong recovery followed in 2020, lifting volume to 250 thousand tons and value to 88.9 million USD.

Market growth continued in 2021, with volume reaching 280 thousand tons and value 120.2 million USD. This expansion coincided with the active presence of several chemical industry players in the country, including BASF SE and ENLASA S.A., which likely supported domestic industrial demand for sucrose. The market then stabilized in 2022 and 2023, with volumes around 266-265 thousand tons, while the market value rose to 132 million USD in 2023.

In 2024, the operating context for the market began to be shaped by the government's National Production, Consumption and Trade Plan for 2024-2025, which aims to promote domestic output, alongside reported macroeconomic challenges such as supply disruptions and rising raw material costs.

Production sucrose in solid form in Nicaragua

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

Nicaragua's production of sucrose in solid form increased after a two-year decline. In 2019, production reached its lowest point at 312.9 K t, marking an 18.5% decrease. The following year, in 2020, production rebounded sharply to 395.6 K t, representing a 26.4% increase from the previous year.

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

In value, 2017-2020, M $ US

Nicaragua's production value of sucrose in solid form rose after a two-year decline. In 2019, the value hit its minimum at 108.3 M $ US, with a 29.2% drop. In 2020, production value recovered to 140.4 M $ US, showing a sharp 29.6% year-over-year improvement. Overall, from 2017 to 2020, production value decreased by 24.7%, averaging an annual decline of 9.0%.

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

Exports sucrose in solid form from Nicaragua

Exports in kind, K t

Nicaragua's exports of sucrose in solid form in kind showed mixed trends. In 2018, exports reached their lowest point at 116.6 K t, declining by 12.9%. The following year, in 2019, exports peaked at 155.8 K t, with a 33.6% increase. In 2020, exports fell to 145.3 K t, down 6.7% year-over-year. Over the 2017-2020 period, exports grew by 8.5%, with a compound annual growth rate of 2.8%.

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

From 2017 to 2020, the United States, Côte d'Ivoire, and Asia, not elsewhere specified, remained the primary buyers of Nicaragua's sucrose in solid form in kind. The United States accounted for 23.2% of exports, Côte d'Ivoire for 17.7%, and Asia, not elsewhere specified, for 15.7%. Together, these three markets represented 56.6% of total exports in kind.

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

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

Exports in value, K $ US

Nicaragua's export value of sucrose in solid form experienced fluctuations. In 2018, the value was at its lowest at 46 451 K $ US, with a 27.0% decline. In 2019, it increased by 16.1%. In 2020, exports totaled 51 565 K $ US, down 4.4% from the previous year. Over the 2017-2020 period, export value decreased by 19%, with a compound annual decline rate of 6.8%.

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

During 2017-2020, the United States, Côte d'Ivoire, and Asia, not elsewhere specified, were the key markets for Nicaragua's sucrose in solid form exports in value terms. The United States held a 23.4% share, Côte d'Ivoire 21.0%, and Asia, not elsewhere specified, 14.3%. Collectively, these three accounted for 58.7% of total export flows.

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

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

Imports sucrose in solid form to Nicaragua

Imports in kind, K t

Imports of sucrose in solid form in kind to Nicaragua showed an unstable trend from 2017 to 2020. In 2018, imports peaked at 0.1 K t, with a 79.7% increase. By 2020, imports dropped to their lowest point at 0.0 K t, marking a sharp 31.8% contraction from the previous year. Overall, there was a two-fold difference between the peak in 2018 and the trough in 2020.

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

From 2017 to 2020, Germany and the United States dominated Nicaragua's imports of sucrose in solid form in kind, jointly accounting for 83.5% of total flows. Other countries held much smaller shares in the import market.

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

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

Imports in value, K $ US

Nicaragua's import value of sucrose in solid form declined for the second consecutive year. In 2018, imports reached their maximum at 81 K $ US, with a 36.5% increase. In 2020, imports fell to 48 K $ US, showing a steep 28.6% reduction from the previous year. Over the 2017-2020 period, import value decreased by 19.1%, averaging an annual decline of 6.8%.

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

In 2017-2020, the United States and Germany formed the dominant pair for Nicaragua's imports of sucrose in solid form in value terms, jointly accounting for 88.2% of total flows. Other countries represented the remaining share.

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

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