Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India - 2023

Contents:

1. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India (FOB) - 2023
2. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India (CIF) - 2022
3. Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India
4. Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India (FOB) - 2023

In November 2023, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $728 per ton, with an increase of 3.8% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +2.8%. The pace of growth was the most pronounced in June 2023 when the average export price increased by 12% month-to-month. Over the period under review, the average export prices hit record highs in November 2023.

Average prices varied noticeably for the major foreign markets. In November 2023, the highest price was recorded for prices to Kenya ($759 per ton) and Israel ($742 per ton), while the average price for exports to Djibouti ($708 per ton) and Kuwait ($713 per ton) were amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India (CIF) - 2022

In 2022, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,469 per ton, with a decrease of -44.6% against the previous year. Over the period under review, the import price, however, posted noticeable growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by 200%. The import price peaked at $3,654 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 United States ($7,856 per ton), while the price for the United Arab Emirates ($348 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India

For the fourth consecutive year, India recorded growth in shipments abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose, which increased by 2% to 5.6M tons in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +14.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.1% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 37%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose surged to $2.8B in 2022. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 47% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from India in 2022:

1. Sudan (1433.5K tons)
2. Somalia (587.1K tons)
3. Djibouti (421.3K tons)
4. Pakistan (232.3K tons)
5. Sri Lanka (231.5K tons)
6. United Arab Emirates (223.7K tons)
7. Afghanistan (211.6K tons)
8. Indonesia (206.1K tons)
9. China (181.7K tons)
10. Turkey (164.5K tons)
11. Saudi Arabia (151.6K tons)
12. Bangladesh (111.9K tons)
13. Yemen (91.7K tons)

Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in India

In 2022, supplies from abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -34.5% to 4.2K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, showed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 138% against the previous year. As a result, imports reached the peak of 6.4K tons, and then dropped dramatically in the following year.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose declined rapidly to $6.1M in 2022. Over the period under review, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2020 when imports increased by 91%.

Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to India in 2022:

1. United Arab Emirates (2295.0 tons)
2. New Zealand (1094.8 tons)
3. United States (244.6 tons)
4. Germany (242.5 tons)
5. Belgium (98.2 tons)

Source: IndexBox Market Intelligence Platform