China: Sugar Market 2022

Sugar Market Size in China

The Chinese sugar market was estimated at $X in 2021, approximately reflecting the previous year. Overall, consumption, however, recorded a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Sugar Production in China

In value terms, sugar production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2017 when the production volume increased by 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

In 2021, the average sugar yield in China stood at less than X kg per ha, approximately mirroring the previous year's figure. Overall, the yield recorded 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.

The sugar harvested area in China stood at less than X ha in 2021, therefore, remained relatively stable against the previous year's figure. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Sugar Exports

Exports from China

In 2021, overseas shipments of sugar decreased by -14.2% to X tons, falling for the third consecutive year after four years of growth. In general, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 81% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, sugar exports reduced slightly to $X in 2021. Overall, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 74% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mongolia (X tons) was the main destination for sugar exports from China, accounting for a 53% share of total exports. Moreover, sugar exports to Mongolia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume to Mongolia amounted to +48.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+1.0% per year) and Malaysia (+11.6% per year).

In value terms, Mongolia ($X), Hong Kong SAR ($X) and Malaysia ($X) appeared to be the largest markets for sugar exported from China worldwide, together comprising 68% of total exports.

Mongolia, with a CAGR of +53.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sugar export price amounted to $X per ton, growing by 15% against the previous year. Overall, the export price, however, showed a noticeable curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Democratic People's Republic of Korea ($X per ton), while the average price for exports to Mongolia ($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 Democratic People's Republic of Korea (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

Sugar Imports

Imports into China

In 2021, supplies from abroad of sugar increased by 5.2% to X tons, rising for the fourth consecutive year after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 36% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, sugar imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a pronounced descent. The growth pace was the most rapid in 2020 when imports increased by 34% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of sugar to China, accounting for a 83% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, Cuba (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Brazil amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Cuba (-13.2% per year) and the United Arab Emirates (+468.3% per year).

In value terms, Brazil ($X) constituted the largest supplier of sugar to China, comprising 81% of total imports. The second position in the ranking was taken by Thailand ($X), with a 3.9% share of total imports. It was followed by the United Arab Emirates, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-18.8% per year) and the United Arab Emirates (+387.8% per year).

Import Prices by Country

In 2021, the average sugar import price amounted to $X per ton, picking up by 12% against the previous year. Over the period under review, the import price, however, showed a noticeable setback. The pace of growth appeared the most rapid in 2016 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while the price for Cuba ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform