Brazil: Sugars Market 2024

Sugars Market Size in Brazil

The Brazilian sugars market skyrocketed to $X in 2021, with an increase of 38% 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 buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +68.7% against 2017 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sugars Exports

Exports from Brazil

In 2021, after two years of growth, there was significant decline in overseas shipments of sugars, sugar ethers and salts, when their volume decreased by -19.7% to X tons. Overall, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by 316% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped significantly in the following year.

In value terms, sugars exports dropped notably to $X in 2021. Over the period under review, exports, however, showed a notable increase. The growth pace was the most rapid in 2019 with an increase of 100% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then shrank dramatically in the following year.

Exports by Country

Chile (X tons) was the main destination for sugars exports from Brazil, accounting for a 80% share of total exports. Moreover, sugars exports to Chile exceeded the volume sent to the second major destination, Argentina (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Chile amounted to +44.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-0.8% per year) and the United Arab Emirates (-64.4% per year).

In value terms, Chile ($X) remains the key foreign market for sugars, sugar ethers and salts exports from Brazil, comprising 71% of total exports. The second position in the ranking was held by Argentina ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Chile amounted to +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-5.1% per year) and the United Arab Emirates (-47.3% per year).

Export Prices by Country

The average sugars export price stood at $X per ton in 2021, falling by -33.5% against the previous year. In general, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 197% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 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 the United Arab Emirates ($X per ton), while the average price for exports to Chile ($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 the United Arab Emirates (+47.4%), while the prices for the other major destinations experienced a decline.

Sugars Imports

Imports into Brazil

In 2021, imports of sugars, sugar ethers and salts into Brazil soared to X tons, rising by 36% against the previous year's figure. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sugars imports soared to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +75.0% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of sugars to Brazil, accounting for a 49% share of total imports. Moreover, sugars imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+84.5% per year) and Germany (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of sugars, sugar ethers and salts to Brazil, comprising 32% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.9% per year) and Germany (+4.9% per year).

Import Prices by Country

In 2021, the average sugars import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price recorded a mild curtailment. The most prominent rate of growth was recorded in 2020 an increase of 21%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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