New Zealand: Sugars Market 2024

Sugars Market Size in New Zealand

The New Zealand sugars market soared to $X in 2021, surging by 130% against the previous year. In general, consumption recorded slight growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sugars Production in New Zealand

In value terms, sugars production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2019 with an increase of 85% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Sugars Exports

Exports from New Zealand

After seven years of growth, shipments abroad of sugars, sugar ethers and salts decreased by -61.1% to X tons in 2021. Over the period under review, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2014 with an increase of 229% against the previous year. The exports peaked at X tons in 2020, and then fell remarkably in the following year.

In value terms, sugars exports declined remarkably to $X in 2021. In general, exports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2015 when exports increased by 169% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then fell notably in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of sugars exports from New Zealand, with a combined 85% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +186.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sugars exported from New Zealand were the United States ($X), Japan ($X) and South Korea ($X), together accounting for 84% of total exports.

Among the main countries of destination, Japan, with a CAGR of +108.9%, recorded 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 average sugars export price amounted to $X per ton, rising by 82% against the previous year. Over the period under review, the export price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2013 an increase of 332% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sugars Imports

Imports into New Zealand

In 2021, overseas purchases of sugars, sugar ethers and salts were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 1,105% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, sugars imports surged to $X in 2021. In general, imports recorded a tangible increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,161% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest sugars supplier to New Zealand, accounting for a 68% share of total imports. Moreover, sugars imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +43.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+40.1% per year) and Germany (+51.0% per year).

In value terms, the largest sugars suppliers to New Zealand were Germany ($X), Japan ($X) and Italy ($X), together comprising 86% of total imports.

Italy, with a CAGR of +61.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average sugars import price amounted to $X per ton, shrinking by -19.3% against the previous year. In general, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars import price increased by +58.5% against 2014 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 42% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped notably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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