Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco - 2023
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco (CIF) - 2023
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco (FOB) - 2022
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco (CIF) - 2023
The average import price for raw cane sugar (without flavoring or coloring matter, other) stood at $568 per ton in June 2023, surging by 7.5% against the previous month. In general, 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.
As there is only one major supplying country, the average price level is determined by prices for Brazil.
From June 2022 to June 2023, the rate of growth in terms of prices for Brazil amounted to +0.9% per month.
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco (FOB) - 2022
The average export price for raw cane sugar (without flavoring or coloring matter, other) stood at $831 per ton in 2022, shrinking by -59.8% against the previous year. Overall, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 an increase of 76%. As a result, the export price attained the peak level of $2,066 per ton, and then contracted sharply in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($1,194 per ton), while the average price for exports to Niger ($340 per ton) was amongst the lowest.
From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mauritania (-3.4%).
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco
For the fourth consecutive year, Morocco recorded growth in purchases abroad of raw cane sugar (without flavoring or coloring matter, other), which increased by 4.6% to 1.6M tons in 2022. The total import volume increased at an average annual rate of +9.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16%. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.
In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) soared to $778M in 2022. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 41%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | 408 | 466 | 653 | 719 | 20.8% |
| Mexico | N/A | N/A | 4.7 | 58.8 | 1151.1% |
| Others | 0.3 | 0.3 | 0.2 | N/A | -18.4% |
| Total | 409 | 466 | 658 | 778 | 23.9% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to Morocco in 2022:
- Brazil (1440.4K tons)
- Mexico (119.5K tons)
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco
In 2022, after two years of decline, there was significant growth in overseas shipments of raw cane sugar (without flavoring or coloring matter, other), when their volume increased by 25,669% to 23 tons. Over the period under review, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) soared to $19K in 2022. Overall, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Morocco (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mauritania | N/A | N/A | N/A | 18.2 | 0% |
| Niger | N/A | N/A | N/A | 0.7 | 0% |
| Russia | N/A | N/A | N/A | 0.6 | 0% |
| Palestine | 0.3 | 0.1 | 0.2 | N/A | -18.4% |
| Others | 0.3 | N/A | N/A | N/A | 0% |
| Total | 0.6 | 0.1 | 0.2 | 19.5 | 219.1% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from Morocco in 2022:
- Mauritania (20.9 tons)
- Niger (2.0 tons)
- Russia (0.5 tons)
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