Sucrose in solid form market in Vietnam

Earlier Report Observations

From 2018 to 2019, the Vietnamese sucrose market remained stable at around 1.7 million tons, supported by domestic production. Imports were minimal due to tariff quotas and import license requirements established by Decree 69/2018. This changed in 2020 when Vietnam lifted import quotas under its ATIGA commitments, allowing a surge in sugar imports to 784 thousand tons. This influx expanded the total market volume by 38% to 2.4 million tons, offsetting a concurrent drop in domestic output.

Beginning in 2021, authorities implemented trade measures to control imports. Anti-dumping duties on cane sugar from Thailand were introduced, and in 2022, the government managed import volumes through additional tariff quota auctions. These actions reduced imports, leading to a contraction in market size to 2.3 million tons in 2022 and further to 2.1 million tons in 2023. During this period, new tariff regulations under Decree 26/2023 and amended anti-dumping duties further tightened import controls. However, domestic production rebounded significantly in 2023, reaching 1.9 million tons.

The regulatory landscape continued to evolve with the 2024 enactment of laws removing sugar from price stabilization and strengthening consumer protection, reflecting ongoing policy adjustments to shape market conditions.

Production sucrose in solid form in Vietnam

In kind, 2017-2020, K t

Between 2017 and 2020, Vietnam ranked as the 23rd largest producer of solid sucrose in the world.

Top producers of sucrose in solid form, 2017-2020

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

Vietnam's solid sucrose production declined after two years of growth. In 2020, the country produced 1 642 K t of solid sucrose, which was 4.6% lower than in 2019. Over the 2017–2020 period, production increased by 7.6%, averaging an annual growth rate of 2.5%. The highest production level was recorded in 2019 at 1 721 K t, with the largest year-on-year increase occurring in 2018 at 11.7%.

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

In value, 2017-2020, M $ US

Following a two-year decline, Vietnam's solid sucrose production value increased. In 2020, the output was valued at 809.0 M $ US, representing a significant rise of 16.2% compared to 2019. The lowest value was recorded in 2019 at 696.1 M $ US, with the most substantial decrease occurring in 2018 at 11.1%.

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

Exports sucrose in solid form from Vietnam

Exports in kind, K t

Vietnam's cross-border shipments of solid sucrose declined for the third consecutive year. In 2020, the country exported 2.4 K t of solid sucrose, marking a sharp decrease of 85.9% from 2019. Between 2017 and 2020, exports fell by 95.4%, translating to an average annual decline of 64.2%.

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

From 2017 to 2020, China, the Philippines, and Myanmar were the core destinations for Vietnam's solid sucrose exports in volume terms. China accounted for 43.8% of exports, the Philippines for 26.6%, and Myanmar for 20.6%, together making up 91.0% of total export flows.

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

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

Exports in value, M $ US

Vietnam's solid sucrose export value declined for the third year in a row. In 2020, exports totaled 1.2 M $ US, reflecting a sharp drop of 82.9% compared to the previous year. Over the 2017–2020 period, export value decreased by 95.7%, with an average annual decline of 65.1%.

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

During 2017–2020, China, the Philippines, and Myanmar were the main destinations for Vietnam's solid sucrose exports in value terms. China held a 42.9% share, the Philippines 23.9%, and Myanmar 23.4%, collectively accounting for 90.1% of total export value.

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

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

Imports sucrose in solid form to Vietnam

Imports in kind, K t

Vietnam's solid sucrose import volumes increased for the third consecutive year. In 2020, imports reached 783.7 K t, showing a steep year-on-year rise of 1 286.8%. Between 2017 and 2020, imports grew by 1 317%, averaging an annual increase of 142.0%.

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

From 2017 to 2020, Thailand dominated Vietnam's solid sucrose imports in volume terms, accounting for 82.5% of total flows, while other markets played a less significant role.

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

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

Imports in value, M $ US

Vietnam's solid sucrose import value showed notable fluctuations during the period. In 2019, imports hit a low of 25.5 M $ US, with a decline of 14.3% that year. By 2020, imports surged to 432.7 M $ US, representing a gain of 1 598.4% compared to 2019, resulting in a 17-fold difference between the two years.

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

Between 2017 and 2020, Thailand accounted for 82.3% of Vietnam's solid sucrose import value, with the remainder distributed among a broad group of smaller countries.

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

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