Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India - 2023
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India (FOB) - 2023
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India (CIF) - 2023
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India (FOB) - 2023
In November 2023, the average export price for raw cane sugar (without flavoring or coloring matter, other) amounted to $703 per ton, picking up by 4.1% against the previous month. Over the period under review, export price indicated a notable increase from November 2022 to November 2023: its price increased at an average monthly rate of +3.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for raw cane sugar (without flavoring or coloring matter, other) increased by +19.0% against August 2023 indices. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 25% month-to-month. Over the period under review, the average export prices reached the peak figure in November 2023.
Prices varied noticeably by the country of destination: the country with the highest price was Bangladesh ($2,498 per ton), while the average price for exports to Nepal ($286 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India (CIF) - 2023
The average import price for raw cane sugar (without flavoring or coloring matter, other) stood at $657 per ton in November 2023, with an increase of 3.6% against the previous month. Over the period under review, the import price posted notable growth. The growth pace was the most rapid in February 2023 when the average import price increased by 280% month-to-month. As a result, import price attained the peak level of $1,980 per ton. From March 2023 to November 2023, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Brazil.
From December 2022 to November 2023, the rate of growth in terms of prices for Brazil amounted to +3.0% per month.
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India
For the fourth year in a row, India recorded growth in overseas shipments of raw cane sugar (without flavoring or coloring matter, other), which increased by 85% to 6.2M tons in 2022. In general, exports posted a significant increase. The growth pace was the most rapid in 2021 when exports increased by 107% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) skyrocketed to $2.9B in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 152%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | N/A | 106 | 674 | 613 | 140.5% |
| Bangladesh | 117 | 50.6 | 199 | 454 | 57.1% |
| Saudi Arabia | 0.2 | 15.5 | 54.1 | 255 | 984.4% |
| Iraq | N/A | N/A | 64.3 | 231 | 259.3% |
| United Arab Emirates | 0.5 | 1.2 | 105 | 200 | 636.8% |
| Malaysia | 27.7 | 95.1 | 80.9 | 179 | 86.3% |
| Pakistan | N/A | 1.7 | 7.5 | 102 | 674.6% |
| Sri Lanka | 7.5 | 9.6 | 25.5 | 89.0 | 128.1% |
| Yemen | N/A | 42.6 | 34.9 | 87.9 | 43.6% |
| Somalia | 6.0 | 4.5 | 26.1 | 87.8 | 144.6% |
| Iran | 183 | 142 | 6.8 | 67.1 | -28.4% |
| China | 0.1 | 16.8 | 2.6 | 61.9 | 752.2% |
| Djibouti | 0.1 | 0.4 | 8.0 | 57.3 | 730.6% |
| Others | 28.5 | 47.0 | 52.4 | 371 | 135.2% |
| Total | 370 | 533 | 1,341 | 2,856 | 97.6% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from India in 2022:
- Indonesia (1399.8K tons)
- Bangladesh (1053.1K tons)
- Saudi Arabia (569.3K tons)
- Iraq (529.6K tons)
- United Arab Emirates (429.1K tons)
- Malaysia (402.1K tons)
- Pakistan (224.8K tons)
- Yemen (198.8K tons)
- Somalia (185.2K tons)
- Sri Lanka (181.0K tons)
- Iran (143.8K tons)
- China (131.9K tons)
- Djibouti (113.7K tons)
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India
Imports of raw cane sugar (without flavoring or coloring matter, other) into India soared to 492K tons in 2022, rising by 18% against 2021. Over the period under review, imports, however, continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 104% against the previous year. As a result, imports reached the peak of 2M tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) skyrocketed to $245M in 2022. In general, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 111%. As a result, imports attained the peak of $632M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 256 | 623 | 166 | 245 | -1.5% |
| South Africa | 34.7 | 9.0 | N/A | N/A | -74.1% |
| Others | 9.5 | 0.2 | 0.2 | 0.3 | -68.4% |
| Total | 300 | 632 | 166 | 245 | -6.5% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to India in 2022:
- Brazil (492.1K tons)
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