Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania - 2023
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania (FOB) - 2022
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania (CIF) - 2022
- Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania (FOB) - 2022
In 2022, the average export price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $3,499 per ton, growing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 50% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($3,804 per ton), while the average price for exports to Estonia ($1,897 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+4.9%), while the prices for the other major destinations experienced a decline.
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania (CIF) - 2022
In 2022, the average import price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $3,028 per ton, with an increase of 3.2% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for refined cane or beet sugar (with added flavoring or coloring matter) increased by +92.6% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 31%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($7,285 per ton), while the price for the United States ($2,284 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania
In 2022, approx. 256 tons of refined cane or beet sugar (with added flavoring or coloring matter) were exported from Lithuania; growing by 285% against the previous year. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 1,719%. As a result, the exports attained the peak of 675 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) soared to $894K in 2022. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 1,629%. As a result, the exports reached the peak of $2M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 6.4 | 9.5 | 21.7 | 660 | 368.9% |
| Latvia | 58.5 | 1,944 | 108 | 153 | 37.8% |
| Estonia | 18.6 | 20.7 | 28.5 | 34.4 | 22.7% |
| United Kingdom | 11.0 | 15.6 | 9.9 | 13.3 | 6.5% |
| Others | 22.3 | 28.5 | 35.2 | 33.2 | 14.2% |
| Total | 117 | 2,018 | 203 | 894 | 97.0% |
Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from Lithuania in 2022:
- Poland (173.6 tons)
- Latvia (50.0 tons)
- Estonia (18.1 tons)
- United Kingdom (4.4 tons)
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania
In 2022, imports of refined cane or beet sugar (with added flavoring or coloring matter) into Lithuania fell to 99 tons, waning by -6.9% against 2021. Over the period under review, imports saw a abrupt descent.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) fell to $299K in 2022. Overall, imports saw a mild contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 1% against the previous year.
| Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Lithuania (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 113 | 145 | 142 | 97.4 | -4.8% |
| United States | 119 | 34.5 | N/A | 96.2 | -6.8% |
| Germany | 45.9 | 86.1 | 106 | 37.5 | -6.5% |
| Spain | N/A | N/A | N/A | 17.0 | 0% |
| Latvia | 5.9 | 11.9 | 14.6 | 11.5 | 24.9% |
| Others | 30.8 | 31.0 | 48.3 | 39.1 | 8.3% |
| Total | 315 | 308 | 311 | 299 | -1.7% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Lithuania in 2022:
- United States (42.1 tons)
- Poland (38.9 tons)
- Germany (5.1 tons)
- Spain (4.1 tons)
- Latvia (4.0 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.
