Morocco: Sugar Market 2022

Sugar Market Size in Morocco

In 2021, the Moroccan sugar market increased by 21% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, continues to indicate a mild decrease. Sugar consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Sugar Production in Morocco

In value terms, sugar production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 45%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

In 2021, the average yield of sugar in Morocco was estimated at less than X kg per ha, approximately reflecting the previous year's figure. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the sugar harvested area in Morocco totaled less than X ha, flattening at the year before. Overall, the harvested area recorded a relatively flat trend pattern.

Sugar Exports

Exports from Morocco

In 2021, overseas shipments of sugar decreased by -1.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 when exports increased by 2,856% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then shrank modestly in the following year.

In value terms, sugar exports expanded remarkably to $X in 2021. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 2,141% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Ghana (X tons), Syrian Arab Republic (X tons) and Tunisia (X tons) were the main destinations of sugar exports from Morocco, with a combined 26% share of total exports. These countries were followed by Turkey, Libya, Lebanon, Spain, Israel, Cote d'Ivoire, North Macedonia, Guinea, Togo and Mauritania, which together accounted for a further 51%.

From 2012 to 2021, the biggest increases were in Cote d'Ivoire (with a CAGR of +1,014.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Libya ($X) and Syrian Arab Republic ($X) constituted the largest markets for sugar exported from Morocco worldwide, together comprising 26% of total exports. These countries were followed by Tunisia, Turkey, Israel, Lebanon, Spain, Cote d'Ivoire, North Macedonia, Guinea, Togo and Mauritania, which together accounted for a further 51%.

Cote d'Ivoire, with a CAGR of +998.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sugar export price amounted to $X per ton, picking up by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 25%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Libya ($X per ton) and Israel ($X per ton), while the average price for exports to Syrian Arab Republic ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mauritania (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Imports

Imports into Morocco

Sugar imports into Morocco was estimated at X tons in 2021, with an increase of 9.9% against the year before. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 19% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, sugar imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 32%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Brazil (X tons) was the main sugar supplier to Morocco, with a 95% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Brazil totaled +1.4%.

In value terms, Brazil ($X) constituted the largest supplier of sugar to Morocco, comprising 96% of total imports. The second position in the ranking was taken by Mexico ($X), with a 4.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil was relatively modest.

Import Prices by Country

The average sugar import price stood at $X per ton in 2021, picking up by 12% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per ton), while the price for Mexico totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.5%).

Source: IndexBox Platform