Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand - 2024
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand (FOB) - 2024
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand (CIF) - 2022
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand (FOB) - 2024
The average export price for raw cane sugar (without flavoring or coloring matter, other) stood at $511 per ton in January 2024, with a decrease of -13% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in December 2023 when the average export price increased by 13% m-o-m. As a result, the export price attained the peak level of $587 per ton, and then reduced in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($791 per ton), while the average price for exports to Indonesia ($499 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.6%), 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 Thailand (CIF) - 2022
In 2022, the average import price for raw cane sugar (without flavoring or coloring matter, other) amounted to $493 per ton, dropping by -33.8% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The growth pace was the most rapid in 2013 an increase of 90%. As a result, import price reached the peak level of $3,293 per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.
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 the UK ($953 per ton), while the price for India totaled $493 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+11.0%), while the prices for the other major suppliers experienced a decline.
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand
In 2022, overseas shipments of raw cane sugar (without flavoring or coloring matter, other) increased by 102% to 3.5M tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, saw a deep setback.
In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) surged to $1.5B in 2022. Overall, exports, however, continue to indicate a perceptible setback.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 945 | 592 | 392 | 911 | -1.2% |
| South Korea | 181 | 50.9 | 76.8 | 281 | 15.8% |
| Malaysia | 178 | 16.1 | 17.4 | 153 | -4.9% |
| China | 138 | 4.0 | 2.3 | 45.3 | -31.0% |
| Japan | 59.2 | 32.0 | 47.2 | 45.1 | -8.7% |
| Taiwan (Chinese) | 45.5 | 24.6 | 49.1 | 40.5 | -3.8% |
| Vietnam | 60.5 | 143 | 57.5 | 18.3 | -32.9% |
| Others | 48.1 | 26.5 | 18.3 | 35.4 | -9.7% |
| Total | 1,655 | 889 | 661 | 1,529 | -2.6% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from Thailand in 2022:
- Indonesia (2108.7K tons)
- South Korea (655.8K tons)
- Malaysia (351.4K tons)
- China (105.3K tons)
- Japan (101.4K tons)
- Taiwan (Chinese) (87.8K tons)
- Vietnam (45.0K tons)
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand
For the fourth consecutive year, Thailand recorded growth in overseas purchases of raw cane sugar (without flavoring or coloring matter, other), which increased by 255% to 34K tons in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 8,283% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) soared to $17M in 2022. In general, imports posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of 5,440% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in years to come.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | N/A | 0.1 | 7.2 | 16.8 | 1196.1% |
| Others | N/A | 0.1 | N/A | 0.1 | 0.0% |
| Total | N/A | 0.1 | 7.2 | 16.9 | 1200.0% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to Thailand in 2022:
- India (34.1K tons)
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This year, world sugar production is expected to rise by 3% to 193M tons. The growth will be encouraged by favorable weather conditions in most of the largest producing countries, as well as the providing exemptions on the neonicotinoid usage against plant diseases and blights in France, Germany and the UK. The drop in sugar production and shipments from Brazil will be offset by large volumes coming from Thailand, which will boost global exports by +2.6% y-o-y. The increased supply in the world market is to keep sugar prices relatively stable over the next two years.
