Sucrose in solid form market in South America

Earlier Report Observations

The market for sucrose in solid form in South America opened the period at 14 465 thousand tons in 2018, a year which saw ongoing research initiatives in Brazil focused on sucrochemistry to develop new value-added derivatives from sucrose. Volume remained virtually unchanged in 2019 at 14 456 thousand tons before contracting to 13 170 thousand tons in 2020.

A recovery began in 2021, lifting the market to 13 863 thousand tons. This was followed by a period of robust expansion, with volume jumping to 18 079 thousand tons in 2022 and further to 19 979 thousand tons in 2023. This strong growth occurred even as the Brazilian chemical industry, which encompasses sucrose production, faced uncertainties stemming from the pandemic and the war in Ukraine, which affected the broader supply chain for chemical inputs.

Production sucrose in solid form in South America

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

South America's production of sucrose in solid form rebounded in 2020 after two consecutive years of decline. The region produced 17 014 K t that year, marking a 2.7% increase compared to 2019. However, looking at the broader 2017-2020 period, production actually fell by 23.6%, which translates to an average annual decline of 8.6%. The lowest production level was recorded in 2019 at 16 570 K t, while the steepest year-on-year drop occurred in 2018 when production decreased by 21.5%.

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

In value, 2017-2020, M $ US

South America's sucrose in solid form production value declined for the third straight year in 2020. The output was valued at 6 506 M $ US, representing a moderate decrease of 6.5% from the previous year. Over the four-year period from 2017 to 2020, production value fell by 37.3%, equating to an average annual decline of 14.4%.

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

Exports sucrose in solid form from South America

Exports in kind, K t

The export market for sucrose in solid form from South America showed significant volatility during the observed period. Exports reached their lowest point in 2019 at 2 504 K t and peaked in 2017, creating a 2.4-fold difference between these extremes. In 2020, exports rebounded strongly to 4 525 K t, which represents an 80.7% increase compared to the previous year. The most substantial decline occurred in 2018 when exports fell by 40.7%.

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

Between 2017 and 2020, the United Arab Emirates (7.9% of exports in kind), Angola (7.3%), and Benin (6.4%) were the largest buyers of sucrose in solid form from South America. Together, these three markets accounted for 21.7% of total exports in kind, with the remaining 78.3% distributed among numerous smaller trading partners.

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

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

Exports in value, M $ US

South America's sucrose in solid form export value increased in 2020 after two years of decline. The region exported 1 730 M $ US worth of sucrose that year, representing a substantial 64.5% gain compared to 2019. However, over the broader 2017-2020 period, export value decreased by 37.3%, which corresponds to an average annual decline of 14.4%. The lowest export value was recorded in 2019 at 1 052 M $ US, while the most significant drop occurred in 2018 with a 48.6% decrease.

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

During the 2017-2020 period, the United States (8.6% of exports in value terms), the United Arab Emirates (7.5%), and Angola (6.7%) were important buyers of sucrose in solid form from South America. However, their combined share reached only 22.8% of total export value, with the remaining 77.2% distributed across many other trading partners.

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

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

Imports sucrose in solid form to South America

Imports in kind, K t

Import volumes of sucrose in solid form to South America showed considerable volatility during these years. Imports reached their lowest point in 2019 at 390 K t and peaked in 2020, creating a 1.7-fold difference between these two years. In 2020, imports stood at 680 K t, representing a substantial 74.3% increase compared to the previous year. The most significant decline occurred in 2019 when imports fell by 21.0%.

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

From 2017 to 2020, Guatemala (22.7% of imports in kind), Mexico (0.9%), and Nicaragua (0.6%) were the leading sources of sucrose in solid form imports to South America. Together, these three countries accounted for 24.2% of total import volumes.

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

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

Imports in value, M $ US

South America's imports of sucrose in solid form increased for the second consecutive year in 2020. The region imported 543 M $ US worth of sucrose that year, marking a 28.8% increase compared to 2019. Over the broader 2017-2020 period, import value grew by 9.5%, which translates to an average annual increase of 3.1%. The lowest import value was recorded in 2018 at 400 M $ US, while the most substantial decline occurred that same year with a 19.3% decrease.

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

Throughout the 2017-2020 period, Guatemala (21.7% of imports in value terms), Mexico (0.9%), and Nicaragua (0.6%) formed the core group of suppliers for South America's sucrose in solid form imports. Together, these three markets represented 23.1% of total import value.

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

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