Sugar beet market in Latin America and the Caribbean

Earlier Report Observations

Sugar beet production for human consumption in Latin America and the Caribbean contracted sharply from 2.4 million tonnes in 2018 to 663 thousand tonnes in 2023, representing a market volume drop of over 70%.

During this period, the sector saw increasing mechanization and productivity support from policies like China's National Plan, indirectly affecting global supply. However, regional output continued to fall. In 2022, global market expansion driven by biofuel demand and consumer preference for natural sweeteners did not reverse the local decline, with production dipping further.

By 2023, key players such as Cargill and Beta San Miguel were rapidly integrating advanced technologies in Mexico, and sugar beet remained more profitable than alternative crops in some areas, yet overall market volume kept decreasing.

Production sugar beet in Latin America and the Caribbean

In kind, 2017-2020, K t

Top producers of sugar beet, 2017-2020

World map of production of sugar beet, 2017-2020

Sugar beet production in Latin America and the Caribbean has declined for the second year in a row. In 2020, the region produced 1 319 thousand tonnes of sugar beet, marking a 3.9% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 28%, which translates to an average annual decline of 10.4%. The highest production level was recorded in 2018 at 2 434 thousand tonnes, with a significant increase of 32.9% that year. However, the largest drop occurred in 2019, when production plummeted by 43.6%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, K t

Exports sugar beet from Latin America and the Caribbean

Exports in kind, t

The market experienced notable fluctuations during this period. Exports reached their lowest point in 2019 at 5.9 tonnes, while the peak was recorded in 2018 with 22.2 tonnes, resulting in a 3.8-fold difference between these years. In 2020, cross-border shipments of sugar beet from Latin America and the Caribbean amounted to 15.6 tonnes, representing a sharp increase of 163.7% compared to the previous year. The largest decline was observed in 2019, with a drop of 73.3%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, Greece, and Germany were the key destinations for sugar beet exports in kind. The United States accounted for 52.4% of exports, followed by Greece at 5.0% and Germany at 4.5%. Together, these three countries represented 62.0% of total export flows.

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

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, K $ US

The data reveals irregular changes, pointing to a volatile market environment. Exports hit their lowest point in 2019 at 5.5 thousand US dollars, while the peak was in 2018 with 110.2 thousand US dollars, showing a 20-fold gap between these years. In 2020, Latin America and the Caribbean exported 10.4 thousand US dollars worth of sugar beet, reflecting an 88.6% increase year-over-year. The largest decline occurred in 2019, with a drop of 95.0%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, the United States was the dominant destination for sugar beet exports in value terms from Latin America and the Caribbean, accounting for 88.3% of total flows. The remaining share was distributed among several smaller markets.

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

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports sugar beet to Latin America and the Caribbean

Imports in kind, t

The market showed signs of volatility over the observed period. Imports reached their lowest point in 2018 at 2.3 tonnes, while the peak was in 2017, with a 60-fold difference between these years. In 2020, sugar beet imports into Latin America and the Caribbean totaled 23.8 tonnes, equivalent to a steep increase of 435.9% compared to the previous year. The largest decline was recorded in 2018, with a drop of 98.3%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, China, the Netherlands, and the United States were the principal destinations for sugar beet imports in kind. China accounted for 3.3% of imports, the Netherlands for 1.7%, and the United States for 1.3%. Together, these three countries made up 6.3% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, K $ US

The market showed signs of volatility over the observed period. Imports hit their lowest point in 2018 at 12.8 thousand US dollars, while the peak was in 2017, with a 9.8-fold gap between these years. In 2020, Latin America and the Caribbean imported 28.2 thousand US dollars worth of sugar beet, corresponding to a sudden increase of 92.1% over the past year. The largest decline was recorded in 2018, with a drop of 89.8%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, K $ US

Between 2017 and 2020, Germany, the United States, and the Netherlands were the main destinations for sugar beet imports in value terms into Latin America and the Caribbean. Germany accounted for 13.9% of imports, the United States for 6.4%, and the Netherlands for 5.1%. Together, these three countries represented 25.5% of total import flows.

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

World map of product's imports to Latin America and the Caribbean in value, 2017-2020