Myanmar: Sugar Market 2022

Sugar Market Size in Myanmar

In 2021, the Myanmar's sugar market decreased by -52.3% to $X, falling for the fourth consecutive year after six years of growth. In general, consumption recorded a abrupt setback. Sugar consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Sugar Production in Myanmar

In value terms, sugar production surged to $X in 2021 estimated in export price. Overall, production saw a mild decrease. The pace of growth was the most pronounced in 2018 with an increase of 22% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

In 2021, the average yield of sugar in Myanmar was estimated at less than X kg per ha, approximately equating the previous year's figure. Over the period under review, the yield continues to indicate 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, approx. less than X ha of sugar were harvested in Myanmar; almost unchanged from the previous year's figure. In general, the harvested area recorded a relatively flat trend pattern.

Sugar Exports

Exports from Myanmar

In 2021, shipments abroad of sugar was finally on the rise to reach X tons after two years of decline. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 381%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, sugar exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 345% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for sugar exports from Myanmar, with a 71% share of total exports. Moreover, sugar exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +495.2%.

In value terms, Vietnam ($X) emerged as the key foreign market for sugar exports from Myanmar, comprising 77% of total exports. The second position in the ranking was taken by China ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +460.5%.

Export Prices by Country

The average sugar export price stood at $X per ton in 2021, shrinking by -1.8% against the previous year. In general, the export price saw a noticeable setback. The pace of growth appeared the most rapid in 2018 an increase of 14%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-5.7%).

Sugar Imports

Imports into Myanmar

In 2021, overseas purchases of sugar decreased by -13.2% to X tons, falling for the fourth consecutive year after six years of growth. Overall, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 776%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, sugar imports fell to $X in 2021. In general, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 587% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of sugar to Myanmar, with a 48% share of total imports. Moreover, sugar imports from Thailand exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. Ukraine (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 Thailand totaled +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+20.6% per year) and Ukraine (+19.2% per year).

In value terms, Thailand ($X) constituted the largest supplier of sugar to Myanmar, comprising 44% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 22% share of total imports. It was followed by Singapore, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+35.6% per year) and Singapore (+16.0% per year).

Import Prices by Country

In 2021, the average sugar import price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the average import price increased by 22% against the previous year. The import price peaked 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 supplying countries. In 2021, the country with the highest price was Ukraine ($X per ton), while the price for Belize ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+13.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform