Indonesia: Sugars Market 2024

Sugars Market Size in Indonesia

The Indonesian sugars market soared to $X in 2021, with an increase of 17% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Sugars consumption peaked in 2021 and is expected to retain growth in the immediate term.

Sugars Production in Indonesia

In value terms, sugars production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 24%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Sugars Exports

Exports from Indonesia

In 2021, approx. X tons of sugars, sugar ethers and salts were exported from Indonesia; falling by -10.7% compared with the previous year. Overall, exports recorded a perceptible contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 58% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, sugars exports dropped to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 40%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for sugars exports from Indonesia, with a 76% share of total exports. Moreover, sugars exports to Japan exceeded the volume sent to the second major destination, China (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+430.5% per year) and the United States (+146.8% per year).

In value terms, Japan ($X) remains the key foreign market for sugars, sugar ethers and salts exports from Indonesia, comprising 45% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+129.0% per year) and China (+355.1% per year).

Export Prices by Country

The average sugars export price stood at $X per ton in 2021, picking up by 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($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 Japan (-1.7%), while the prices for the other major destinations experienced a decline.

Sugars Imports

Imports into Indonesia

In 2021, purchases abroad of sugars, sugar ethers and salts increased by 9.9% to X tons, rising for the third consecutive year after five years of decline. Over the period under review, imports, however, showed a slight slump. The most prominent rate of growth was recorded in 2013 when imports increased by 26% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, sugars imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 34%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest sugars supplier to Indonesia, accounting for a 59% share of total imports. Moreover, sugars imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.7% per year) and China (+1.8% per year).

In value terms, Germany ($X), Japan ($X) and China ($X) appeared to be the largest sugars suppliers to Indonesia, together accounting for 88% of total imports. These countries were followed by the United States and Thailand, which together accounted for a further 7.4%.

Thailand, with a CAGR of +38.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugars import price stood at $X per ton in 2021, which is down by -2.6% against the previous year. Over the last nine years, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 27%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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