MENA: Sugar Market 2022

Sugar Market Size in MENA

In 2021, the MENA's sugar market increased by 7% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Sugar Production in MENA

In value terms, sugar production reduced to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

The countries with the highest volumes of production in 2021 were Egypt (X tons), Turkey (X tons) and Iran (X tons), together comprising 91% of total production. These countries were followed by Morocco, which accounted for a further 9%.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Morocco (with a CAGR of +5.4%), while production for the other leaders experienced more modest paces of growth.

Sugar Exports

Exports in MENA

Sugar exports surged to X tons in 2021, with an increase of 17% compared with the previous year's figure. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +10.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +38.3% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by 42%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, sugar exports surged to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +55.1% against 2018 indices. The pace of growth was the most pronounced in 2016 when exports increased by 42%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The shipments of the six major exporters of sugar, namely the United Arab Emirates, Saudi Arabia, Morocco, Algeria, Turkey and Egypt, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were in Morocco (with a CAGR of +64.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar supplying countries in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Morocco ($X), with a combined 71% share of total exports.

In terms of the main exporting countries, Morocco, with a CAGR of +66.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, picking up by 11% against the previous year. Overall, the export price, however, continues to indicate a slight descent. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Sugar Imports

Imports in MENA

In 2021, overseas purchases of sugar increased by 7.1% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 16%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, sugar imports rose rapidly to $X in 2021. In general, imports, however, recorded a mild downturn. The pace of growth was the most pronounced in 2016 with an increase of 23% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Algeria was the main importing country with an import of around X tons, which resulted at 33% of total imports. Egypt (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons), Morocco (X tons), Israel (X tons), the United Arab Emirates (X tons) and Syrian Arab Republic (X tons). All these countries together took near 50% share of total imports. Iran (X tons) took a relatively small share of total imports.

Imports into Algeria increased at an average annual rate of +10.8% from 2012 to 2021. At the same time, Saudi Arabia (+14.7%), Israel (+8.4%), Syrian Arab Republic (+6.9%) and Morocco (+1.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in MENA, with a CAGR of +14.7% from 2012-2021. Egypt experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-2.0%) and Iran (-2.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Algeria, Saudi Arabia and Israel increased by +14, +6.2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sugar importing markets in MENA were Algeria ($X), Syrian Arab Republic ($X) and Israel ($X), together accounting for 45% of total imports.

Syrian Arab Republic, with a CAGR of +11.5%, saw the highest growth rate of the value of imports, among 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

In 2021, the import price in MENA amounted to $X per ton, rising by 2.2% against the previous year. Overall, the import price, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2016 when the import price increased by 6.2%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform