Russian Federation: Sugars Market 2024

Sugars Market Size in the Russian Federation

In 2021, the Russian sugars market increased by 43% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sugars Production in the Russian Federation

In value terms, sugars production contracted significantly to $X in 2021 estimated in export price. In general, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +22.1% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 57% against the previous year. Sugars production peaked at $X in 2020, and then reduced markedly in the following year.

Sugars Exports

Exports from the Russian Federation

Sugars exports from Russia shrank remarkably to X tons in 2021, with a decrease of -45.1% against 2020 figures. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 744% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then declined rapidly in the following year.

In value terms, sugars exports stood at $X in 2021. Overall, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 596% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

India (X tons) was the main destination for sugars exports from Russia, with a 85% share of total exports. Moreover, sugars exports to India exceeded the volume sent to the second major destination, Bulgaria (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and Armenia (+81.6% per year).

In value terms, India ($X) emerged as the key foreign market for sugars, sugar ethers and salts exports from Russia, comprising 98% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to India was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and Armenia (-13.8% per year).

Export Prices by Country

In 2021, the average sugars export price amounted to $X per ton, growing by 97% against the previous year. Overall, the export price enjoyed a measured increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Armenia ($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 Kazakhstan (-5.7%).

Sugars Imports

Imports into the Russian Federation

In 2021, supplies from abroad of sugars, sugar ethers and salts increased by 39% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a modest increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugars imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest sugars supplier to Russia, accounting for a 47% share of total imports. Moreover, sugars imports from France exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.7% per year) and Germany (+1.3% per year).

In value terms, the largest sugars suppliers to Russia were France ($X), China ($X) and Germany ($X), with a combined 76% share of total imports. The Netherlands, Japan and Thailand lagged somewhat behind, together comprising a further 16%.

The Netherlands, with a CAGR of +36.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugars import price stood at $X per ton in 2021, growing by 3.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 22%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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