Australia: Sugars Market 2024

Sugars Market Size in Australia

The Australian sugars market surged to $X in 2021, jumping by 35% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 +60.1% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sugars Exports

Exports from Australia

After two years of growth, shipments abroad of sugars, sugar ethers and salts decreased by -70% to X tons in 2021. Overall, exports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2016 when exports increased by 605% against the previous year. The exports peaked at X tons in 2020, and then reduced markedly in the following year.

In value terms, sugars exports reduced dramatically to $X in 2021. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 817% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for sugars exports from Australia, with a 73% share of total exports. Moreover, sugars exports to New Zealand exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to New Zealand amounted to +6.8%.

In value terms, New Zealand ($X) remains the key foreign market for sugars, sugar ethers and salts exports from Australia, comprising 77% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand amounted to -11.1%.

Export Prices by Country

In 2021, the average sugars export price amounted to $X per ton, which is down by -6.9% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 152% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Hong Kong SAR stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+11.5%), while the prices for the other major destinations experienced a decline.

Sugars Imports

Imports into Australia

In 2021, the amount of sugars, sugar ethers and salts imported into Australia shrank slightly to X tons, therefore, remained relatively stable against the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 16% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, sugars imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.3% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Belgium (X tons) and the United States (X tons) were the main suppliers of sugars imports to Australia, together comprising 85% of total imports. These countries were followed by Germany, Thailand, Indonesia, the UK and France, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +55.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Belgium ($X) and China ($X) constituted the largest sugars suppliers to Australia, with a combined 76% share of total imports. These countries were followed by Germany, the UK, Thailand, France and Indonesia, which together accounted for a further 14%.

Indonesia, with a CAGR of +40.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average sugars import price amounted to $X per ton, with an increase of 61% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+46.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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