Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China - 2023
Contents:
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China (CIF) - 2023
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China (FOB) - 2023
- Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China
- Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China (CIF) - 2023
The average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $749 per ton in December 2023, growing by 3.3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. The growth pace was the most rapid in June 2023 an increase of 17% against the previous month. Over the period under review, average import prices hit record highs in December 2023.
Average prices varied somewhat amongst the major supplying countries. In December 2023, the countries with the highest prices were Thailand ($772 per ton) and Malaysia ($769 per ton), while the price for Indonesia ($580 per ton) and Brazil ($634 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by India (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China (FOB) - 2023
In December 2023, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $784 per ton, with an increase of 4.7% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +2.3%. The growth pace was the most rapid in April 2023 an increase of 17% month-to-month. The export price peaked in December 2023.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was the United States ($1,326 per ton), while the average price for exports to the Philippines ($543 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Democratic People's Republic of Korea (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China
In 2022, after three years of growth, there was significant decline in overseas purchases of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose, when their volume decreased by -9.1% to 635K tons. The total import volume increased at an average annual rate of +10.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year.
In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose reached $352M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +22.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.3% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 38%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 10.3 | 34.8 | 40.3 | 121 | 127.3% |
| South Korea | 72.3 | 88.4 | 92.8 | 95.9 | 9.9% |
| Thailand | 87.7 | 42.6 | 50.2 | 90.4 | 1.0% |
| United Arab Emirates | N/A | 55.8 | 101 | 7.8 | -62.6% |
| Belarus | N/A | 7.6 | 11.7 | 4.7 | -21.4% |
| Others | 20.4 | 34.8 | 43.7 | 31.6 | 15.7% |
| Total | 191 | 264 | 340 | 352 | 22.6% |
Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to China in 2022:
- India (250.6K tons)
- Thailand (159.6K tons)
- South Korea (150.4K tons)
- United Arab Emirates (16.4K tons)
- Belarus (8.5K tons)
Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China
In 2022, after two years of decline, there was significant growth in shipments abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose, when their volume increased by 48% to 175K tons. Overall, exports, however, showed a mild descent.
In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose soared to $110M in 2022. In general, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +9.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mongolia | 13.5 | 7.2 | 27.7 | 32.7 | 34.3% |
| Kazakhstan | N/A | N/A | N/A | 9.8 | 0% |
| United States | 5.1 | 4.3 | 4.7 | 7.2 | 12.2% |
| Malaysia | 2.7 | 3.1 | 6.3 | 3.2 | 5.8% |
| Uzbekistan | N/A | N/A | N/A | 2.6 | 0% |
| Canada | 1.4 | 1.0 | 0.9 | 1.7 | 6.7% |
| Philippines | 2.9 | 1.9 | N/A | 1.1 | -27.6% |
| Hong Kong SAR | 12.0 | N/A | N/A | N/A | 0% |
| Democratic People's Republic of Korea | 39.2 | N/A | N/A | N/A | 0% |
| Others | 7.3 | 48.3 | 26.0 | 51.2 | 91.4% |
| Total | 83.9 | 65.9 | 65.6 | 110 | 9.4% |
Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from China in 2022:
- Mongolia (60.0K tons)
- Kazakhstan (12.4K tons)
- United States (6.1K tons)
- Malaysia (2.8K tons)
- Uzbekistan (1.9K tons)
- Philippines (1.8K tons)
- Canada (1.5K tons)
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