Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal - 2023

Contents:

1. Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal (CIF) - 2022
2. Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal (FOB) - 2023
3. Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal
4. Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal

Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal (CIF) - 2022

In 2022, the average import price for raw cane sugar (without flavoring or coloring matter, other) amounted to $456 per ton, picking up by 12% against the previous year. Over the period under review, the import price, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2017 when the average import price increased by 15% against the previous year. The import price peaked at $699 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Brazil ($487 per ton) and Cuba ($452 per ton), while the price for Mozambique ($346 per ton) and Swaziland ($346 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+1.2%), while the prices for the other major suppliers experienced a decline.

Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal (FOB) - 2023

In October 2023, the average export price for raw cane sugar (without flavoring or coloring matter, other) amounted to $756 per ton, picking up by 15% against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.5%. The pace of growth appeared the most rapid in June 2023 an increase of 30% against the previous month. The export price peaked in October 2023.

Average prices varied noticeably for the major external markets. In October 2023, the country with the highest price was Poland ($796 per ton), while the average price for exports to France ($679 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+2.9%), while the prices for the other major destinations experienced a decline.

Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal

In 2022, imports of raw cane sugar (without flavoring or coloring matter, other) into Portugal surged to 391K tons, rising by 23% on the previous year's figure. The total import volume increased at an average annual rate of +7.3% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) surged to $178M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +19.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to Portugal in 2022:

1. Brazil (171.6K tons)
2. France (62.0K tons)
3. Cuba (59.9K tons)
4. Swaziland (38.2K tons)
5. South Africa (33.0K tons)
6. Mozambique (15.8K tons)
7. Belize (4.0K tons)

Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Portugal

After three years of growth, shipments abroad of raw cane sugar (without flavoring or coloring matter, other) decreased by -59.6% to 47K tons in 2022. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 228%. As a result, the exports attained the peak of 117K tons, and then declined markedly in the following year.

In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) fell sharply to $20M in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2021 when exports increased by 328%. As a result, the exports attained the peak of $47M, and then dropped notably in the following year.

Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from Portugal in 2022:

1. Spain (30.9K tons)
2. Poland (16.0K tons)

Source: IndexBox Market Intelligence Platform