Vietnam: Sugar Beet Market 2025

Sugar Beet Market Size in Vietnam

In 2022, after three years of growth, there was significant decline in the Vietnamese sugar beet market, when its value decreased by -8.6% to $X. Overall, consumption, however, showed resilient growth. Sugar beet consumption peaked at $X in 2021, and then contracted in the following year.

Sugar Beet Production in Vietnam

In value terms, sugar beet production rose modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 15%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

In 2022, the average sugar beet yield in Vietnam was estimated at less than X kg per ha, standing approx. at the year before. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar beet harvested area in Vietnam stood at less than X ha in 2022, approximately reflecting the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern.

Sugar Beet Exports

Exports from Vietnam

In 2022, shipments abroad of sugar beet was finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. Over the period under review, exports, however, continue to indicate a slight descent. The pace of growth was the most pronounced in 2013 when exports increased by 8.7%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, sugar beet exports rose significantly to $X in 2022. In general, exports, however, continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2013 with an increase of 19%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for sugar beet exports from Vietnam, accounting for a 89% share of total exports. Moreover, sugar beet exports to Singapore exceeded the volume sent to the second major destination, the United States (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Singapore stood at -2.1%.

In value terms, Singapore ($X) remains the key foreign market for sugar beet exports from Vietnam, comprising 91% of total exports. The second position in the ranking was taken by the United States ($X), with a 7.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore totaled -2.7%.

Export Prices by Country

In 2022, the average sugar beet export price amounted to $X per ton, increasing by 2.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 20%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+14.8%).

Sugar Beet Imports

Imports into Vietnam

In 2022, the amount of sugar beet imported into Vietnam reduced markedly to X tons, which is down by -50% compared with 2021. In general, imports faced a dramatic shrinkage. Imports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, sugar beet imports reduced markedly to $X in 2022. Over the period under review, imports faced a sharp downturn. Imports peaked at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of sugar beet to Vietnam, with a approx. 99.9% share of total imports.

From 2021 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of sugar beet to Vietnam.

From 2021 to 2022, the average annual rate of growth in terms of value from China was relatively modest.

Import Prices by Country

In 2022, the average sugar beet import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped slightly in the following year.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2021 to 2022, the rate of growth in terms of prices for Japan amounted to 0.0% per year.

Source: IndexBox Platform

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