Bangladesh: Sugar Market 2022

Sugar Market Size in Bangladesh

The Bangladeshi sugar market totaled $X in 2021, growing by 13% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 +39.3% against 2018 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Sugar Production in Bangladesh

In value terms, sugar production totaled $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 79% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

In 2021, the average yield of sugar in Bangladesh stood at less than X kg per ha, approximately equating 2020 figures. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. less than X ha of sugar were harvested in Bangladesh; remaining constant against the year before. Over the period under review, the harvested area saw a relatively flat trend pattern.

Sugar Exports

Exports from Bangladesh

In 2021, shipments abroad of sugar increased by 14% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports, however, recorded a significant decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 6,741%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, sugar exports surged to $X in 2021. In general, exports, however, showed a sharp curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 5,586%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons) was the main destination for sugar exports from Bangladesh, accounting for a 73% share of total exports. Moreover, sugar exports to Bulgaria exceeded the volume sent to the second major destination, Nepal (X tons), fivefold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bulgaria amounted to -8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+6.6% per year) and the United Arab Emirates (-53.6% per year).

In value terms, Germany ($X), Nepal ($X) and Bulgaria ($X) were the largest markets for sugar exported from Bangladesh worldwide, with a combined 75% share of total exports.

Among the main countries of destination, Nepal, with a CAGR of +14.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average sugar export price amounted to $X per ton, jumping by 19% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+35.6%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Imports

Imports into Bangladesh

In 2021, after two years of growth, there was decline in overseas purchases of sugar, when their volume decreased by -2% to X tons. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.6% 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 +26.1% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 43%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, sugar imports skyrocketed to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +41.9% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 49%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest sugar supplier to Bangladesh, with a 73% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil amounted to +6.0%.

In value terms, Brazil ($X) constituted the largest supplier of sugar to Bangladesh, comprising 73% of total imports. The second position in the ranking was taken by India ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Brazil stood at +2.9%.

Import Prices by Country

The average sugar import price stood at $X per ton in 2021, growing by 18% against the previous year. In general, the import price, however, showed a pronounced curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per ton), while the price for India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-2.8%).

Source: IndexBox Platform