Middle East: Sugar Market 2022

Sugar Market Size in the Middle East

The Middle Eastern sugar market was estimated at $X in 2021, rising by 4.7% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Sugar Production in the Middle East

In value terms, sugar production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced setback. The pace of growth appeared the most rapid in 2020 with an increase of 19%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

The country with the largest volume of sugar production was Turkey (X tons), accounting for 67% of total volume. Moreover, sugar production in Turkey exceeded the figures recorded by the second-largest producer, Iran (X tons), twofold.

In Turkey, sugar production increased at an average annual rate of +1.1% over the period from 2012-2021.

Sugar Exports

Exports in the Middle East

In 2021, shipments abroad of sugar increased by 37% to X tons, rising for the second year in a row after two years of decline. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% 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 +42.7% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, sugar exports soared to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.2% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the largest exporters of sugar in 2021, reaching near 43% and 38% of total exports, respectively. It was distantly followed by Turkey (X tons), comprising an 18% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +29.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest sugar supplying countries in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined 97% share of total exports.

Turkey, with a CAGR of +21.8%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, with an increase of 5.3% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a 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 a decline in the export price figures.

Sugar Imports

Imports in the Middle East

In 2021, purchases abroad of sugar increased by 8.9% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of 16% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, sugar imports rose sharply to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 24%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Israel (X tons), the United Arab Emirates (X tons), Syrian Arab Republic (X tons), Iran (X tons) and Iraq (X tons) represented the key importers of sugar, together generating 86% of total imports. Yemen (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were in Saudi Arabia (with a CAGR of +14.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Syrian Arab Republic ($X), Israel ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 65% of total imports.

Syrian Arab Republic, with a CAGR of +11.5%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, with a decrease of -2.2% against the previous year. Overall, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2016 when the import price increased by 7%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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