Southern Asia: Glucose Market 2024

Glucose Exports

Exports in Southern Asia

In 2021, the amount of glucose and glucose syrup exported in Southern Asia surged to X tons, rising by 94% against 2020 figures. Total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.9% 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 +147.7% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glucose exports skyrocketed to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +117.6% against 2019 indices. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India was the major exporter of glucose and glucose syrup in Southern Asia, with the volume of exports resulting at X tons, which was approx. 80% of total exports in 2021. It was distantly followed by Pakistan (X tons), creating a 20% share of total exports.

India was also the fastest-growing in terms of the glucose and glucose syrup exports, with a CAGR of +4.1% from 2012 to 2021. At the same time, Pakistan (+3.6%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) and Pakistan ($X) were the countries with the highest levels of exports in 2021.

In terms of the main exporting countries, Pakistan, with a CAGR of +11.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, which is down by -1.5% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glucose export price decreased by -12.2% against 2019 indices. The pace of growth was the most pronounced in 2016 when the export price increased by 65%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+7.5%).

Glucose Imports

Imports in Southern Asia

In 2021, supplies from abroad of glucose and glucose syrup decreased by -1% to X tons, falling for the third year in a row after five years of growth. Overall, imports, however, showed a strong expansion. The growth pace was the most rapid in 2016 with an increase of 34%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, glucose imports skyrocketed to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Bangladesh represented the key importer of glucose and glucose syrup in Southern Asia, with the volume of imports accounting for X tons, which was near 45% of total imports in 2021. It was distantly followed by Pakistan (X tons), Sri Lanka (X tons), Nepal (X tons) and Afghanistan (X tons), together creating a 53% share of total imports. India (X tons) held a relatively small share of total imports.

Imports into Bangladesh increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, Nepal (+9.4%), Afghanistan (+4.6%), Pakistan (+3.0%) and Sri Lanka (+3.0%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +9.4% from 2012-2021. By contrast, India (-1.5%) illustrated a downward trend over the same period. Bangladesh (+5 p.p.) and Nepal (+4 p.p.) significantly strengthened its position in terms of the total imports, while India, Sri Lanka and Pakistan saw its share reduced by -1.8%, -3.4% and -3.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bangladesh ($X) constitutes the largest market for imported glucose and glucose syrup in Southern Asia, comprising 48% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 20% share of total imports. It was followed by Sri Lanka, with an 11% share.

In Bangladesh, glucose imports increased at an average annual rate of +8.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+4.2% per year) and Sri Lanka (+1.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, jumping by 26% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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