Latin America and the Caribbean: Sugar Beet Market 2025

Sugar Beet Market Size in Latin America and the Caribbean

In 2022, after three years of decline, there was significant growth in the Latin American sugar beet market, when its value increased by 34% to $X. In general, consumption, however, showed a abrupt downturn. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Sugar Beet Production in Latin America and the Caribbean

In value terms, sugar beet production amounted to $X in 2022 estimated in export price. Overall, production posted a significant increase. The growth pace was the most rapid in 2013 when the production volume increased by 20,339%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Chile (X tons) remains the largest sugar beet producing country in Latin America and the Caribbean, accounting for 94% of total volume. It was followed by Colombia (X tons), with a 2.9% share of total production.

In Chile, sugar beet production contracted by an average annual rate of -5.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (-1.2% per year) and Venezuela (+1.6% per year).

The average sugar beet yield totaled X tons per ha in 2022, surging by 7.8% compared with 2021 figures. In general, the yield saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by 11% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 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, approx. X ha of sugar beet were harvested in Latin America and the Caribbean; rising by 22% on 2021. Overall, the harvested area, however, saw a abrupt decline. The pace of growth was the most pronounced in 2018 when the harvested area increased by 27% against the previous year. Over the period under review, the harvested area dedicated to sugar beet production attained the maximum at X ha in 2015; however, from 2016 to 2022, the harvested area remained at a lower figure.

Sugar Beet Exports

Exports in Latin America and the Caribbean

After four years of growth, overseas shipments of sugar beet decreased by -15.3% to X tons in 2022. Overall, exports, however, continue to indicate a moderate increase. The pace of growth appeared the most rapid in 2019 with an increase of 175% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, sugar beet exports dropped to $X in 2022. Over the period under review, exports, however, saw a modest expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,057% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia represented the largest exporting country with an export of around X tons, which resulted at 55% of total exports. Brazil (X tons) ranks second in terms of the total exports with a 23% share, followed by Costa Rica (18%). Chile (X kg) held a minor share of total exports.

Exports from Colombia increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, Costa Rica (+19.2%) and Brazil (+19.0%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.2% from 2012-2022. By contrast, Chile (-26.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, Costa Rica, Chile and Colombia increased by +23, +13, +2.4 and +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sugar beet supplying countries in Latin America and the Caribbean were Costa Rica ($X), Colombia ($X) and Brazil ($X), with a combined 85% share of total exports.

Brazil, with a CAGR of +21.0%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 3.1% against the previous year. In general, the export price, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2013 when the export price increased by 405% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Colombia ($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 (+1.7%), while the other leaders experienced a decline in the export price figures.

Sugar Beet Imports

Imports in Latin America and the Caribbean

In 2022, after three years of growth, there was significant decline in purchases abroad of sugar beet, when their volume decreased by -6.9% to X tons. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 484%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, sugar beet imports declined sharply to $X in 2022. In general, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 270% against the previous year. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

Trinidad and Tobago (X tons) and Jamaica (X tons) prevails in imports structure, together making up 95% of total imports. The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of +26.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar beet importing markets in Latin America and the Caribbean were Jamaica ($X), Trinidad and Tobago ($X) and the Dominican Republic ($X), with a combined 78% share of total imports.

The Dominican Republic, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, dropping by -30% against the previous year. Overall, the import price saw a noticeable setback. The pace of growth was the most pronounced in 2013 an increase of 47% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Jamaica ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+10.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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