ASEAN: Sugar Cane Market 2024

Sugar Cane Market Size in ASEAN

The ASEAN sugar cane market dropped to $X in 2022, falling by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Sugar Cane Production in ASEAN

In value terms, sugar cane production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Thailand (X tons) remains the largest sugar cane producing country in ASEAN, accounting for X% of total volume. Moreover, sugar cane production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), twofold. The third position in this ranking was taken by the Philippines (X tons), with a X% share.

In Thailand, sugar cane production plunged by an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Indonesia (X% per year) and the Philippines (X% per year).

In 2022, the average yield of sugar cane in ASEAN fell slightly to X tons per ha, shrinking by X% compared with 2021. In general, the yield recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the sugar cane yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar cane harvested area rose modestly to X ha in 2022, with an increase of X% against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the sugar cane harvested area remained at a somewhat lower figure.

Sugar Cane Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in overseas shipments of sugar cane, which increased by X% to X tons in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, sugar cane exports contracted to $X in 2022. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Myanmar was the major exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Lao People's Democratic Republic (X tons), achieving a X% share of total exports. Vietnam (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sugar cane exports from Myanmar stood at X%. At the same time, Lao People's Democratic Republic (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Myanmar (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Malaysia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Lao People's Democratic Republic ($X) remains the largest sugar cane supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In Lao People's Democratic Republic, sugar cane exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Myanmar (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Sugar Cane Imports

Imports in ASEAN

In 2022, overseas purchases of sugar cane were finally on the rise to reach X tons after five years of decline. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, sugar cane imports expanded rapidly to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Singapore represented the largest importer of sugar cane in ASEAN, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Vietnam (X tons), generating a X% share of total imports. Lao People's Democratic Republic (X tons) held a relatively small share of total imports.

Imports into Singapore decreased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%) and Lao People's Democratic Republic (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sugar cane importing markets in ASEAN were Singapore ($X), Vietnam ($X) and Lao People's Democratic Republic ($X), with a combined X% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugar cane import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform