Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada - 2023
Contents:
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada (FOB) - 2023
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada (CIF) - 2023
- Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada
- Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada (FOB) - 2023
The average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $795 per ton in December 2023, which is down by -3.8% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in September 2023 when the average export price increased by 4.5% m-o-m. Over the period under review, the average export prices attained the maximum at $840 per ton in March 2023; however, from April 2023 to December 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From December 2022 to December 2023, the rate of growth in terms of prices for the United States amounted to -0.4% per month.
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada (CIF) - 2023
In December 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $908 per ton, dropping by -7.8% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in November 2023 when the average import price increased by 16% month-to-month. As a result, import price attained the peak level of $984 per ton, and then reduced in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was the United States ($1,608 per ton), while the price for Argentina ($635 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Guatemala (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada
In 2022, overseas shipments of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -18.9% to 69K tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +8.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 45%.
In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose fell to $51M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 75%. As a result, the exports attained the peak of $56M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 20.1 | 47.5 | 46.5 | 45.0 | 30.8% |
| Mexico | 7.6 | 4.3 | 5.3 | 3.3 | -24.3% |
| Jamaica | 1.3 | 1.9 | 1.6 | 1.8 | 11.5% |
| Costa Rica | 2.0 | 1.5 | 0.8 | 0.3 | -46.9% |
| Others | 1.0 | 0.9 | 1.0 | 0.6 | -15.7% |
| Total | 32.0 | 56.1 | 55.2 | 50.9 | 16.7% |
Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Canada in 2022:
- United States (57.9K tons)
- Mexico (6.9K tons)
- Jamaica (2.7K tons)
- Costa Rica (0.4K tons)
Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada
In 2022, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose into Canada surged to 33K tons, jumping by 61% against the year before. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 101% against the previous year. As a result, imports attained the peak of 54K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose skyrocketed to $33M in 2022. Overall, imports recorded strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.7 | 3.7 | 2.9 | 14.3 | 74.3% |
| Brazil | 6.1 | 13.5 | 7.8 | 9.1 | 14.3% |
| Argentina | 2.6 | 4.6 | 1.3 | 2.5 | -1.3% |
| Colombia | 2.7 | 1.0 | 1.3 | 2.1 | -8.0% |
| Mexico | 0.7 | 0.5 | 0.5 | 1.6 | 31.7% |
| Paraguay | 3.3 | 0.6 | 0.4 | 0.9 | -35.2% |
| India | 0.8 | 0.8 | 0.3 | 0.4 | -20.6% |
| Thailand | 1.3 | 0.8 | 0.4 | 0.3 | -38.7% |
| Guatemala | 0.1 | 3.3 | N/A | 0.1 | 0.0% |
| Others | 1.3 | 2.9 | 1.3 | 1.6 | 7.2% |
| Total | 21.6 | 31.9 | 16.3 | 33.0 | 15.2% |
Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Canada in 2022:
- Brazil (13.5K tons)
- United States (8.8K tons)
- Argentina (3.9K tons)
- Colombia (2.1K tons)
- Mexico (1.7K tons)
- Thailand (0.5K tons)
- India (0.4K tons)
- Paraguay (0.4K tons)
- Guatemala (0.2K tons)
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