CIS: Sugar Market 2022

Sugar Market Size in CIS

In 2021, the CIS sugar market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a perceptible descent. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Sugar Production in CIS

In value terms, sugar production dropped to $X in 2021 estimated in export price. Overall, production showed a pronounced shrinkage. The growth pace was the most rapid in 2015 with an increase of 15%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Russia (X tons) constituted the country with the largest volume of sugar production, accounting for 89% of total volume. Moreover, sugar production in Russia exceeded the figures recorded by the second-largest producer, Belarus (X tons), more than tenfold.

In Russia, sugar production increased at an average annual rate of +4.0% over the period from 2012-2021.

Sugar Exports

Exports in CIS

After two years of growth, shipments abroad of sugar decreased by -56.5% to X tons in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 72% against the previous year. The volume of export peaked at X tons in 2020, and then declined dramatically in the following year.

In value terms, sugar exports dropped markedly to $X in 2021. Overall, exports continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2020 with an increase of 58% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

In 2021, Russia (X tons) was the key exporter of sugar, making up 61% of total exports. Belarus (X tons) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by Azerbaijan (7.9%). Moldova (X tons) followed a long way behind the leaders.

Russia was also the fastest-growing in terms of the sugar exports, with a CAGR of +23.2% from 2012 to 2021. Moldova (-5.8%), Belarus (-8.4%) and Azerbaijan (-13.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia increased by +52 percentage points.

In value terms, Russia ($X) remains the largest sugar supplier in the CIS, comprising 62% of total exports. The second position in the ranking was taken by Belarus ($X), with a 27% share of total exports. It was followed by Azerbaijan, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +20.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (-10.1% per year) and Azerbaijan (-19.0% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, picking up by 47% against the previous year. In general, the export price, however, continues to indicate a pronounced slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Russia ($X per ton) and Moldova ($X per ton), while Azerbaijan ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-1.9%), while the other leaders experienced a decline in the export price figures.

Sugar Imports

Imports in CIS

In 2021, imports of sugar in the CIS contracted to X tons, with a decrease of -6.9% compared with the previous year's figure. Overall, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 15% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, sugar imports surged to $X in 2021. Over the period under review, imports continue to indicate a perceptible decrease. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Azerbaijan (X tons), Uzbekistan (X tons) and Kazakhstan (X tons) represented the main importer of sugar in the CIS, making up 77% of total import. Tajikistan (X tons) ranks next in terms of the total imports with a 7.7% share, followed by Russia (7.7%) and Armenia (5%). Kyrgyzstan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of +85.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar importing markets in the CIS were Kazakhstan ($X), Azerbaijan ($X) and Uzbekistan ($X), with a combined 88% share of total imports.

Among the main importing countries, Uzbekistan, with a CAGR of +93.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, rising by 32% against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugar import price increased by +101.4% against 2012 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Kazakhstan ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform