Australia and Oceania: Sugar Market 2022

Sugar Market Size in Australia and Oceania

The sugar market in Australia and Oceania expanded rapidly to $X in 2021, growing by 12% against the previous year. In general, consumption, however, showed a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sugar Production in Australia and Oceania

In value terms, sugar production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, saw a perceptible downturn. The growth pace was the most rapid in 2016 when the production volume increased by 16%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Australia (X tons) constituted the country with the largest volume of sugar production, accounting for 96% of total volume. Moreover, sugar production in Australia exceeded the figures recorded by the second-largest producer, Fiji (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume in Australia totaled +2.2%.

Sugar Exports

Exports in Australia and Oceania

In 2021, shipments abroad of sugar increased by 1.1% to X tons, rising for the second year in a row after three years of decline. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +6.1% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 29%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, sugar exports surged to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia dominates exports structure, finishing at X tons, which was near 97% of total exports in 2021. Fiji (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the sugar exports, with a CAGR of +5.6% from 2012 to 2021. Fiji (-1.5%) illustrated a downward trend over the same period. While the share of Fiji (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Australia (-2.2 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest sugar supplier in Australia and Oceania, comprising 95% of total exports. The second position in the ranking was taken by Fiji ($X), with a 3.1% share of total exports.

In Australia, sugar exports expanded at an average annual rate of +1.7% over the period from 2012-2021.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, increasing by 29% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Fiji ($X per ton), while Australia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-3.7%).

Sugar Imports

Imports in Australia and Oceania

For the sixth year in a row, Australia and Oceania recorded growth in overseas purchases of sugar, which increased by 8.7% to X tons in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.7% against 2012 indices. The pace of growth was the most pronounced in 2014 when imports increased by 15% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, sugar imports rose sharply to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

New Zealand represented the key importer of sugar in Australia and Oceania, with the volume of imports amounting to X tons, which was near 75% of total imports in 2021. It was distantly followed by Fiji (X tons), generating an 11% share of total imports. The following importers - Samoa (X tons) and Papua New Guinea (X tons) - each recorded a 7.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to sugar imports into New Zealand stood at +6.6%. At the same time, Samoa (+15.1%), Fiji (+15.0%) and Papua New Guinea (+12.2%) displayed positive paces of growth. Moreover, Samoa emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +15.1% from 2012-2021. Fiji (+6 p.p.), New Zealand (+5.7 p.p.), Samoa (+2.2 p.p.) and Papua New Guinea (+1.6 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, New Zealand ($X) constitutes the largest market for imported sugar in Australia and Oceania, comprising 52% of total imports. The second position in the ranking was taken by Fiji ($X), with a 23% share of total imports. It was followed by Papua New Guinea, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in New Zealand stood at -2.2%. In the other countries, the average annual rates were as follows: Fiji (+14.3% per year) and Papua New Guinea (+8.3% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, surging by 5.4% against the previous year. Over the period under review, the import price, however, saw a deep setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Fiji ($X per ton), while New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Fiji (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform