Slovakia: Sugars Market 2024

Sugars Market Size in Slovakia

The Slovak sugars market shrank slightly to $X in 2021, declining by -2.8% against the previous year. In general, consumption continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2019 with an increase of 7.3% against the previous year. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sugars Production in Slovakia

In value terms, sugars production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a precipitous decline. The growth pace was the most rapid in 2020 with an increase of 21%. Sugars production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Sugars Exports

Exports from Slovakia

After two years of growth, shipments abroad of sugars, sugar ethers and salts decreased by -18.3% to X tons in 2021. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 1,042% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank sharply in the following year.

In value terms, sugars exports soared to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 162%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Bulgaria (X tons) was the main destination for sugars exports from Slovakia, accounting for a 66% share of total exports. Moreover, sugars exports to Bulgaria exceeded the volume sent to the second major destination, Germany (X tons), sevenfold. The Netherlands (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bulgaria totaled -9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+554.1% per year) and the Netherlands (+1,223.6% per year).

In value terms, Bulgaria ($X) remains the key foreign market for sugars, sugar ethers and salts exports from Slovakia, comprising 39% of total exports. The second position in the ranking was taken by the United States ($X), with a 17% share of total exports. It was followed by Germany, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Bulgaria amounted to +36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-17.2% per year) and Germany (+300.7% per year).

Export Prices by Country

In 2021, the average sugars export price amounted to $X per ton, jumping by 62% against the previous year. Overall, the export price, however, continues to indicate a significant decline. The growth pace was the most rapid in 2020 when the average export price increased by 74% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belarus ($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 Bulgaria (+50.3%), while the prices for the other major destinations experienced mixed trend patterns.

Sugars Imports

Imports into Slovakia

In 2021, overseas purchases of sugars, sugar ethers and salts increased by 53% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 524% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, sugars imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2020 when imports increased by 219% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hungary (X tons), the Czech Republic (X tons) and China (X tons) were the main suppliers of sugars imports to Slovakia, with a combined 82% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +159.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of sugars, sugar ethers and salts to Slovakia, comprising 42% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by the Czech Republic, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.4% per year) and the Czech Republic (+98.0% per year).

Import Prices by Country

In 2021, the average sugars import price amounted to $X per ton, with an increase of 44% against the previous year. Over the period under review, the import price recorded a buoyant expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by 180% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 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, amid the top importers, the country with the highest price was China ($X per ton), while the price for Hungary ($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 (+20.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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