Guatemala: Sugar Crop Market 2024

Sugar Crop Market Size in Guatemala

The Guatemalan sugar crop market reduced to $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Sugar Crop Production in Guatemala

In value terms, sugar crop production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

In 2022, the average yield of sugar crops in Guatemala fell slightly to X tons per ha, approximately mirroring the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by X%. Over the period under review, the average sugar crop yield attained the maximum level at X tons per ha in 2016; however, from 2017 to 2022, the yield remained at a lower figure. 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 crops production in Guatemala totaled X ha, approximately equating 2021. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to sugar crop production reached the peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Sugar Crop Exports

Exports from Guatemala

In 2022, approx. X kg of sugar crops were exported from Guatemala; dropping by X% on 2021. In general, exports faced a precipitous decline. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sugar crop exports totaled $X in 2022. Overall, exports, however, saw significant growth. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Japan (X kg) was the main destination for sugar crop exports from Guatemala, with a X% share of total exports. Moreover, sugar crop exports to Japan exceeded the volume sent to the second major destination, Denmark (X kg), ninefold. The third position in this ranking was taken by the United States (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and the United States (X% per year).

In value terms, Japan ($X) remains the key foreign market for sugar crops exports from Guatemala, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average sugar crop export price stood at $X,721 per ton in 2022, rising by X% against the previous year. Overall, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X,896 per ton), while the average price for exports to Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Crop Imports

Imports into Guatemala

In 2022, after four years of growth, there was significant decline in supplies from abroad of sugar crops, when their volume decreased by X% to X kg. Overall, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar crop imports declined rapidly to $X in 2022. Over the period under review, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

In 2022, China (X kg) constituted the largest sugar crop supplier to Guatemala, with a X% share of total imports. Moreover, sugar crop imports from China exceeded the figures recorded by the second-largest supplier, Panama (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and the United States (X% per year).

In value terms, the largest sugar crop suppliers to Guatemala were China ($X), Panama ($X) and the United States ($X).

Among the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average sugar crop import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, showed a abrupt decline. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Panama ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%).

Source: IndexBox Platform