South-Eastern Asia: Glucose Market 2024

Glucose Exports

Exports in South-Eastern Asia

In 2021, glucose exports in South-Eastern Asia surged to X tons, growing by 37% against 2020 figures. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.2% against 2018 indices. The pace of growth appeared the most rapid in 2019 with an increase of 53%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, glucose exports skyrocketed to $X in 2021. In general, exports showed a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the major exporter of glucose and glucose syrup in South-Eastern Asia, with the volume of exports reaching X tons, which was near 72% of total exports in 2021. Vietnam (X tons) ranks second in terms of the total exports with a 19% share, followed by Indonesia (6%). Malaysia (X tons) held a little share of total exports.

Exports from Thailand increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Indonesia (+12.5%) and Vietnam (+8.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +12.5% from 2012-2021. By contrast, Malaysia (-12.9%) illustrated a downward trend over the same period. While the share of Thailand (+9.3 p.p.), Vietnam (+3.6 p.p.) and Indonesia (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-14.2 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest glucose supplier in South-Eastern Asia, comprising 62% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 29% share of total exports. It was followed by Indonesia, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled +8.9%. In the other countries, the average annual rates were as follows: Vietnam (+27.7% per year) and Indonesia (+14.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2020 an increase of 28%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+17.9%), while the other leaders experienced more modest paces of growth.

Glucose Imports

Imports in South-Eastern Asia

In 2021, after six years of growth, there was significant decline in purchases abroad of glucose and glucose syrup, when their volume decreased by -6.3% to X tons. Overall, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 35%. Over the period under review, imports attained the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, glucose imports rose rapidly to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.6% against 2013 indices. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The Philippines (X tons) and Indonesia (X tons) were the major importers of glucose and glucose syrup in 2021, amounting to approx. 32% and 26% of total imports, respectively. It was distantly followed by Vietnam (X tons), Malaysia (X tons), Thailand (X tons) and Singapore (X tons), together mixing up a 40% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, together comprising 74% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +10.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, increasing by 20% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Singapore ($X per ton), while Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+0.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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