Sucrose in solid form market in Trinidad and Tobago

Earlier Report Observations

The market for sucrose in solid form in Trinidad and Tobago began the period at 70 263 metric tons in 2018. It then contracted sharply to 56 968 metric tons in 2019, a year marked by a reported 30% decline in sugar export value from 2017 levels, which reduced overall market activity. A partial recovery followed in 2020, with the market volume rising to 58 924 metric tons.

Growth resumed in 2021, reaching 63 087 metric tons, but the market softened over the next two years. It dipped slightly to 61 700 metric tons in 2022 before falling more noticeably to 55 805 metric tons in 2023.

Production sucrose in solid form in Trinidad and Tobago

In kind, 2017-2020, t

Top producers of sucrose in solid form, 2017-2020

World map of production of sucrose in solid form, 2017-2020

Trinidad and Tobago produced 14 279 tonnes of sucrose in solid form in 2020, marking a substantial 23.1% increase compared to the previous year. Looking at the period from 2017 to 2020, production grew by 6.3%, which translates to an annualized growth rate of 2.1%. The lowest production level was recorded in 2019 at 11 599 tonnes, while the highest was in 2018 at 16 822 tonnes. The most significant production decline occurred in 2019, dropping by 31.0%, whereas the largest increase was observed in 2018 with a 25.2% rise.

Annual dynamics of production in Trinidad and Tobago in kind, 2017-2020, t

In value, 2017-2020, K $ US

In 2020, the output value of sucrose in solid form in Trinidad and Tobago reached 11 819 thousand US dollars, up by 16.5% from the previous year. Over the 2017-2020 period, however, production value decreased by 15%, equating to an annualized decline of 5.3%. The minimum value was recorded in 2019 at 10 146 thousand US dollars, while the maximum was in 2018 at 15 076 thousand US dollars. The most substantial decline in value occurred in 2019, falling by 32.7%.

Annual dynamics of production in Trinidad and Tobago in value, 2017-2020, K $ US

Exports sucrose in solid form from Trinidad and Tobago

Exports in kind, t

Trinidad and Tobago's export volume of sucrose in solid form stood at 2 323 tonnes in 2020, down by 16.8% compared to the previous year. From 2017 to 2020, exports increased by 2.5%, which corresponds to an annualized growth rate of 0.8%. The lowest export volume was recorded in 2018 at 1 664 tonnes, while the highest was in 2019 at 2 792 tonnes. The largest decline in exports occurred in 2018, dropping by 26.6%, whereas the most significant increase was in 2019 with a 67.8% rise.

Annual dynamics of product's exports from Trinidad and Tobago in kind, 2017-2020, t

Between 2017 and 2020, the main buyers of sucrose in solid form from Trinidad and Tobago were Barbados, accounting for 30.3% of exports in kind, Grenada with 24.5%, and Venezuela at 23.5%. Together, these three markets comprised 78.3% of total exports in kind.

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

World map of product's exports from Trinidad and Tobago in kind, 2017-2020

Exports in value, K $ US

In 2020, cross-border shipments of sucrose in solid form from Trinidad and Tobago amounted to 1 923 thousand US dollars, representing a 21.3% decline year-over-year. Over the 2017-2020 period, exports decreased by 18.1%, with a compound annual growth rate (CAGR) of -6.4%. The minimum value was recorded in 2018 at 1 491 thousand US dollars, while the maximum was in 2019 at 2 443 thousand US dollars. The largest decline occurred in 2018, falling by 36.5%, and the largest increase was in 2019 with a 63.8% rise.

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

From 2017 to 2020, three key markets—Venezuela, Barbados, and Grenada—together absorbed 79.7% of the total export value of sucrose in solid form from Trinidad and Tobago.

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

World map of product's exports from Trinidad and Tobago in value, 2017-2020

Imports sucrose in solid form to Trinidad and Tobago

Imports in kind, t

Trinidad and Tobago's import volume of sucrose in solid form declined for the second consecutive year. In 2020, imports were recorded at 46 968 tonnes, indicating a slight fall of 2.5% compared to the previous year. Over the 2017-2020 period, imports increased by 7.2%, with a CAGR of 2.4%. The maximum import volume was recorded in 2018 at 55 105 tonnes. The largest decline occurred in 2019, dropping by 12.6%, while the largest increase was in 2018 with a 25.8% rise.

Annual dynamics of product's imports to Trinidad and Tobago in kind, 2017-2020, t

Between 2017 and 2020, the main sources for imports in kind were Guatemala, accounting for 54.2% of imports, Colombia with 25.3%, and Honduras at 7.4%. Together, these three countries formed 87.0% of total import flows.

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

World map of product's imports to Trinidad and Tobago in kind, 2017-2020

Imports in value, K $ US

Deliveries of sucrose in solid form to Trinidad and Tobago declined for the second year in a row. In 2020, imports amounted to 21 164 thousand US dollars, showing a measured decline of 4.9% compared to the previous year. Over the 2017-2020 period, imports decreased by 9.5%, with a CAGR of -3.3%. The maximum value was recorded in 2018 at 26 087 thousand US dollars. The largest decline occurred in 2019, falling by 14.7%, and the largest increase was in 2018 with an 11.5% rise.

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

From 2017 to 2020, Guatemala led the import structure in value terms with 54.3%, followed by Colombia at 25.2%, and Honduras at 7.6%. Together, these three markets represented 87.1% of total import flows.

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

World map of product's imports to Trinidad and Tobago in value, 2017-2020