Cote d'Ivoire: Sugar Market 2024

Sugar Market Size in Cote d'Ivoire

In 2022, the Cote d'Ivoire's sugar market increased by 4.1% to $X, rising for the second year in a row after six years of decline. Overall, consumption, however, continues to indicate a perceptible decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Sugar Production in Cote d'Ivoire

In value terms, sugar production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decline. The most prominent rate of growth was recorded in 2014 when the production volume increased by 24%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average sugar yield in Cote d'Ivoire stood at less than X kg per ha, approximately mirroring the previous year's figure. 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 2022, the total area harvested in terms of sugar production in Cote d'Ivoire amounted to less than X ha, approximately mirroring the year before. Over the period under review, the harvested area showed a relatively flat trend pattern.

Sugar Exports

Exports from Cote d'Ivoire

In 2022, overseas shipments of sugar increased by 1.4% to X tons, rising for the eighth year in a row after two years of decline. In general, exports, however, recorded a dramatic descent. The most prominent rate of growth was recorded in 2019 with an increase of 5.1% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sugar exports dropped to $X in 2022. Over the period under review, exports, however, saw a sharp downturn. The smallest decline of -6.2% was in 2021. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons) was the main destination for sugar exports from Cote d'Ivoire, with a 5.5% share of total exports. Moreover, sugar exports to France exceeded the volume sent to the second major destination, Switzerland (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume to France totaled -30.1%.

In value terms, France ($X) remains the key foreign market for sugar exports from Cote d'Ivoire, comprising 4% of total exports. The second position in the ranking was held by Switzerland ($X), with a 0.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to -38.0%.

Export Prices by Country

In 2022, the average sugar export price amounted to $X per ton, shrinking by -7.5% against the previous year. In general, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 an increase of 32%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Switzerland amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.1%), while the prices for the other major destinations experienced a decline.

Sugar Imports

Imports into Cote d'Ivoire

In 2022, sugar imports into Cote d'Ivoire soared to X tons, rising by 63% against 2021 figures. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 17,912%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, sugar imports skyrocketed to $X in 2022. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by 11,950%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest sugar supplier to Cote d'Ivoire, accounting for a 72% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil amounted to +102.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (-21.3% per year) and India (+351.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of sugar to Cote d'Ivoire, comprising 74% of total imports. The second position in the ranking was taken by Guatemala ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil stood at +96.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (-24.2% per year) and India (+299.7% per year).

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, rising by 23% against the previous year. Overall, the import price, however, faced a drastic downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform