Sucrose in solid form market in Oceania

Earlier Report Observations

The sucrose market in Oceania experienced fluctuating volumes between 2018 and 2021. Starting at 1.50 million tons in 2018, consumption dipped to 1.44 million tons in 2019, partially recovered to 1.48 million tons in 2020, and then decreased again to 1.45 million tons in 2021.

Market volume rose notably to 1.52 million tons in 2022, a shift that coincided with a global spike in sugar prices triggered by poor weather conditions in Brazil, which likely made domestic production more attractive. In 2023, volume fell back to 1.48 million tons as record sugar harvests in Brazil and other major producing countries created a worldwide surplus, depressing prices and reducing the incentive for local output.

Production sucrose in solid form in Oceania

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

Sucrose in solid form production in Oceania declined for the second consecutive year. In 2020, Oceania produced 1 464 K t of sucrose in solid form, representing a 0.8% decrease from the previous year. Between 2017 and 2020, production decreased by 4.7%, equating to an annualized rate of 1.6%. The largest increase was recorded in 2018 at 0.4%, when production peaked at 1 543 K t. The largest decline occurred in 2019, with a drop of 4.4%.

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

In value, 2017-2020, M $ US

After a two-year decline, Oceania's sucrose in solid form production increased in value. In 2020, output was valued at 869 M $ US, which is 17.2% higher than in 2019. Between 2017 and 2020, production decreased by 14.9%, equating to an annualized rate of 5.2%. The largest decline was recorded in 2018 at 18.3%, with the minimum value occurring in 2019 at 742 M $ US.

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

Exports sucrose in solid form from Oceania

Exports in kind, K t

Oceania's volume of sucrose in solid form exports declined for the second consecutive year. In 2020, exports amounted to 99.9 K t, showing a sudden fall of 34.6% compared to 2019. Over the period 2017-2020, exports decreased by 36.3%, with a compound annual growth rate (CAGR) of 13.9%. The maximum value was recorded in 2018 at 156.7 K t, with the largest increase also occurring in 2018 at 0.0%.

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

From 2017 to 2020, Singapore was the dominant destination for exports in kind of sucrose in solid form from Oceania, accounting for 72.8% of total flows. The remaining share was distributed among a number of smaller markets.

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

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

Exports in value, K $ US

Oceania's sucrose in solid form exports declined for the third consecutive year. In 2020, exports amounted to 54 985 K $ US, constituting a significant decline of 14.4% compared to 2019. Over the period 2017-2020, exports decreased by 37.5%, with a compound annual growth rate (CAGR) of 14.5%.

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

From 2017 to 2020, Singapore (64.3% of exports in value terms), Bangladesh (3.9% of exports in value terms), and Hong Kong (2.4% of exports in value terms) continued to be the main buyers of sucrose in solid form from Oceania. Together, they formed 70.7% of total exports in value terms.

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

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

Imports sucrose in solid form to Oceania

Imports in kind, K t

In 2020, Oceania's volume of sucrose in solid form imports was recorded at 111.7 K t, down by 2.2% from the previous year. Between 2017 and 2020, imports decreased by 2.4%, equating to an annualized rate of 0.8%. The largest decline was recorded in 2018 at 3.2%, when imports reached their minimum at 110.8 K t. The largest increase occurred in 2019, with a rise of 3.1%.

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

From 2017 to 2020, Thailand (49.4% of imports in kind), Malaysia (20.4% of imports in kind), and Singapore (2.4% of imports in kind) were the main markets for imports in kind. Together, they accounted for 72.2% of total flows.

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

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

Imports in value, K $ US

Sucrose in solid form imports to Oceania increased for the second consecutive year. In 2020, Oceania imported a total of value_last_year} K $ US of sucrose in solid form, constituting a moderate increase of 7.2% compared to the previous year. Over the period 2017-2020, imports decreased by 16.7%, with a compound annual growth rate (CAGR) of 5.9%. The largest decline was recorded in 2018 at 23.4%, with the minimum value occurring in 2018 at 60 382 K $ US.

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

From 2017 to 2020, Thailand (41.9% of imports in value terms), Malaysia (17.9% of imports in value terms), and the United States (3.2% of imports in value terms) headed the ranking of suppliers of sucrose in solid form to Oceania. Their combined share reached 63.0% of total imports in value terms.

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

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