Australia and Oceania: Sugars Market 2024

Sugars Market Size in Australia and Oceania

In 2021, the sugars market in Australia and Oceania increased by 61% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.8% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sugars Production in Australia and Oceania

In value terms, sugars production expanded modestly to $X in 2021 estimated in export price. In general, production, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 when the production volume increased by 85%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Sugars Exports

Exports in Australia and Oceania

In 2021, overseas shipments of sugars, sugar ethers and salts decreased by -62.1% to X tons for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 136%. Over the period under review, the exports attained the maximum at X tons in 2020, and then contracted remarkably in the following year.

In value terms, sugars exports shrank dramatically to $X in 2021. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 149%. Over the period under review, the exports attained the peak figure at $X in 2020, and then shrank markedly in the following year.

Exports by Country

New Zealand prevails in exports structure, accounting for X tons, which was near 91% of total exports in 2021. It was distantly followed by Australia (X tons), comprising an 8.6% share of total exports.

New Zealand was also the fastest-growing in terms of the sugars, sugar ethers and salts exports, with a CAGR of +14.0% from 2012 to 2021. At the same time, Australia (+2.8%) displayed positive paces of growth. From 2012 to 2021, the share of New Zealand increased by +11 percentage points.

In value terms, New Zealand ($X) remains the largest sugars supplier in Australia and Oceania, comprising 98% of total exports. The second position in the ranking was held by Australia ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in New Zealand stood at +6.5%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, jumping by 81% against the previous year. Over the period under review, the export price, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 an increase of 113% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($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 New Zealand (-6.7%).

Sugars Imports

Imports in Australia and Oceania

After three years of decline, supplies from abroad of sugars, sugar ethers and salts increased by 62% to X tons in 2021. Total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 62%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, sugars imports surged to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Australia (X tons) and Papua New Guinea (X tons) represented the main importers of sugars, sugar ethers and salts in Australia and Oceania, together achieving 88% of total imports. It was distantly followed by New Zealand (X tons), creating a 12% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Papua New Guinea (with a CAGR of +12.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constitutes the largest market for imported sugars, sugar ethers and salts in Australia and Oceania, comprising 72% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 28% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia totaled +2.9%. In the other countries, the average annual rates were as follows: New Zealand (+4.8% per year) and Papua New Guinea (-19.6% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, surging by 13% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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