Asia: Sugar Beet Market 2024

Sugar Beet Market Size in Asia

The Asian sugar beet market totaled $X in 2022, with an increase of 6.4% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Sugar Beet Production in Asia

In value terms, sugar beet production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 301%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Turkey (X tons) remains the largest sugar beet producing country in Asia, accounting for 50% of total volume. Moreover, sugar beet production in Turkey exceeded the figures recorded by the second-largest producer, China (X tons), twofold. The third position in this ranking was taken by Iran (X tons), with a 13% share.

In Turkey, sugar beet production increased at an average annual rate of +3.3% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (-1.7% per year) and Iran (+2.7% per year).

The average sugar beet yield totaled X tons per ha in 2022, growing by 10% compared with the year before. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of sugar beet in Asia expanded modestly to X ha, surging by 2.4% on 2021. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the harvested area increased by 11%. Over the period under review, the harvested area dedicated to sugar beet production attained the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area stood at a somewhat lower figure.

Sugar Beet Exports

Exports in Asia

In 2022, approx. X tons of sugar beet were exported in Asia; with a decrease of -74.9% compared with 2021. Overall, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 951%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sugar beet exports reduced dramatically to $X in 2022. In general, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by 177% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) represented the key exporter of sugar beet, constituting 51% of total exports. Vietnam (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (17%) and India (4.8%). Syrian Arab Republic (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -1.3% from 2012 to 2022. At the same time, India (+34.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +34.6% from 2012-2022. By contrast, Malaysia (-1.6%), Vietnam (-1.8%) and Syrian Arab Republic (-3.5%) illustrated a downward trend over the same period. While the share of China (+48 p.p.), Vietnam (+21 p.p.), Malaysia (+17 p.p.), India (+4.7 p.p.) and Syrian Arab Republic (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sugar beet supplier in Asia, comprising 64% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 21% share of total exports. It was followed by Malaysia, with a 7.1% share.

In China, sugar beet exports expanded at an average annual rate of +3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-2.0% per year) and Malaysia (-5.4% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by 94% against the previous year. Over the period under review, the export price showed a significant increase. The pace of growth appeared the most rapid in 2013 an increase of 728% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

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 China ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the other leaders experienced a decline in the export price figures.

Sugar Beet Imports

Imports in Asia

Sugar beet imports expanded sharply to X tons in 2022, increasing by 5.2% compared with 2021. In general, imports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2015 when imports increased by 38% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar beet imports declined to $X in 2022. Over the period under review, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2019 when imports increased by 32%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Singapore represented the major importer of sugar beet in Asia, with the volume of imports reaching X tons, which was approx. 57% of total imports in 2022. It was distantly followed by Oman (X tons), creating a 20% share of total imports. Malaysia (X tons), Armenia (X tons), Saudi Arabia (X tons), Kuwait (X tons) and Qatar (X tons) held a minor share of total imports.

Imports into Singapore decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, Malaysia (+44.2%) and Oman (+42.0%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of +44.2% from 2012-2022. By contrast, Kuwait (-2.1%), Armenia (-10.2%), Saudi Arabia (-18.6%) and Qatar (-22.1%) illustrated a downward trend over the same period. Singapore (+32 p.p.), Oman (+20 p.p.), Malaysia (+4 p.p.), Armenia (+3.9 p.p.), Saudi Arabia (+3.4 p.p.), Qatar (+1.9 p.p.) and Kuwait (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Oman ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 71% share of total imports.

Malaysia, with a CAGR of +32.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with a decrease of -10.7% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The pace of growth was the most pronounced in 2021 an increase of 39% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Armenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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