Vietnam: Sugar Cane Market 2024

Sugar Cane Market Size in Vietnam

In 2022, the Vietnamese sugar cane market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. Sugar cane consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Sugar Cane Production in Vietnam

In value terms, sugar cane production amounted to $X in 2022 estimated in export price. In general, production, however, saw a deep downturn. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

In 2022, the average sugar cane yield in Vietnam reduced to X tons per ha, with a decrease of X% compared with 2021 figures. Over the period under review, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the yield increased by X% against the previous year. Over the period under review, the average sugar cane yield hit record highs at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sugar cane production in Vietnam expanded sharply to X ha, increasing by X% compared with the previous year's figure. In general, the harvested area, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The sugar cane harvested area peaked at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Sugar Cane Exports

Exports from Vietnam

For the eighth consecutive year, Vietnam recorded growth in shipments abroad of sugar cane, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sugar cane exports shrank to $X in 2022. Overall, exports recorded a prominent increase. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons), China (X tons) and South Korea (X tons) were the main destinations of sugar cane exports from Vietnam, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) were the largest markets for sugar cane exported from Vietnam worldwide, together accounting for X% of total exports.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sugar cane export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced a decline.

Sugar Cane Imports

Imports into Vietnam

Sugar cane imports into Vietnam skyrocketed to X tons in 2022, rising by X% against the year before. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sugar cane imports surged to $X in 2022. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Cambodia (X tons) was the main supplier of sugar cane to Vietnam, accounting for a X% share of total imports. Moreover, sugar cane imports from Cambodia exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Cambodia totaled X%.

In value terms, Cambodia ($X) constituted the largest supplier of sugar cane to Vietnam, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Cambodia amounted to X%.

Import Prices by Country

The average sugar cane import price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugar cane import price increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Cambodia ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%).

Source: IndexBox Platform

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