Southern Asia: Sugars Market 2024

Sugars Market Size in Southern Asia

The South Asian sugars market surged to $X in 2021, increasing by 24% against the previous year. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Sugars Production in Southern Asia

In value terms, sugars production skyrocketed to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% 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 -16.9% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 32%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Sugars Exports

Exports in Southern Asia

For the fourth year in a row, Southern Asia recorded growth in overseas shipments of sugars, sugar ethers and salts, which increased by 119% to X tons in 2021. Overall, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sugars exports soared to $X in 2021. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of sugars, sugar ethers and salts, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the sugars, sugar ethers and salts exports, with a CAGR of +23.4% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest sugars supplier in Southern Asia.

In India, sugars exports increased at an average annual rate of +23.6% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, waning by -16.9% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 136%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +0.2% per year.

Sugars Imports

Imports in Southern Asia

In 2021, the amount of sugars, sugar ethers and salts imported in Southern Asia surged to X tons, with an increase of 78% compared with the year before. Over the period under review, imports recorded a remarkable 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 enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India prevails in imports structure, accounting for X tons, which was near 88% of total imports in 2021. It was distantly followed by Bangladesh (X tons), committing a 6.2% share of total imports. The following importers - Pakistan (X tons) and Nepal (X tons) - together made up 5.3% of total imports.

From 2012 to 2021, average annual rates of growth with regard to sugars imports into India stood at +15.9%. At the same time, Nepal (+41.3%) and Bangladesh (+3.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +41.3% from 2012-2021. By contrast, Pakistan (-4.5%) illustrated a downward trend over the same period. While the share of India (+17 p.p.) and Nepal (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bangladesh (-8.2 p.p.) and Pakistan (-10.9 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported sugars, sugar ethers and salts in Southern Asia, comprising 84% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 10% share of total imports. It was followed by Bangladesh, with a 5.4% share.

In India, sugars imports increased at an average annual rate of +17.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+6.4% per year) and Bangladesh (+6.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, increasing by 45% against the previous year. Import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sugars import price increased by +72.0% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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