Southern Asia: Sugar Market 2022

Sugar Market Size in Southern Asia

The South Asian sugar market dropped to $X in 2021, shrinking by -11.8% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Sugar Production in Southern Asia

In value terms, sugar production fell modestly to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.9% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

The country with the largest volume of sugar production was India (X tons), comprising approx. 87% of total volume. Moreover, sugar production in India exceeded the figures recorded by the second-largest producer, Pakistan (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume in India totaled +2.0%.

Sugar Exports

Exports in Southern Asia

In 2021, shipments abroad of sugar increased by 21% to X tons, rising for the fourth year in a row after two years of decline. In general, exports saw a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 40%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sugar exports soared to $X in 2021. Overall, exports continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, resulting at X tons, which was approx. 98% of total exports in 2021. Pakistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the sugar exports, with a CAGR of +15.0% from 2012 to 2021. Pakistan (-4.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +7.3 percentage points.

In value terms, India ($X) remains the largest sugar supplier in Southern Asia, comprising 99% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +18.2%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 when the export price increased by 16% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.8%).

Sugar Imports

Imports in Southern Asia

In 2021, the amount of sugar imported in Southern Asia declined remarkably to X tons, waning by -24.7% on the previous year. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 60%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, sugar imports reduced to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.7% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 48%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Bangladesh represented the key importing country with an import of about X tons, which accounted for 49% of total imports. India (X tons) took the second position in the ranking, distantly followed by Sri Lanka (X tons), Afghanistan (X tons) and Pakistan (X tons). All these countries together took near 47% share of total imports. Nepal (X tons) took a minor share of total imports.

Imports into Bangladesh increased at an average annual rate of +7.6% from 2012 to 2021. At the same time, Pakistan (+48.6%), Afghanistan (+16.4%), Nepal (+11.3%) and India (+6.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +48.6% from 2012-2021. Sri Lanka experienced a relatively flat trend pattern. Pakistan (+5.4 p.p.) and Afghanistan (+3.8 p.p.) significantly strengthened its position in terms of the total imports, while India and Sri Lanka saw its share reduced by -2.3% and -8.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Bangladesh ($X) and Sri Lanka ($X) constituted the countries with the highest levels of imports in 2021, with a combined 85% share of total imports. Pakistan, Afghanistan and Nepal lagged somewhat behind, together comprising a further 14%.

In terms of the main importing countries, Pakistan, with a CAGR of +45.4%, saw 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

In 2021, the import price in Southern Asia amounted to $X per ton, increasing by 27% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: 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 India (+6.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform