Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia - 2024
Contents:
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia (FOB) - 2024
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia (CIF) - 2024
- Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia
- Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia (FOB) - 2024
In December 2023, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $720 per ton, increasing by 3% against the previous month. Over the last eleven months, it increased at an average monthly rate of +1.7%. The pace of growth appeared the most rapid in June 2023 an increase of 5.7% month-to-month. Over the period under review, the average export prices hit record highs in December 2023.
Average prices varied noticeably for the major external markets. In December 2023, the countries with the highest prices were Singapore ($753 per ton) and Indonesia ($738 per ton), while the average price for exports to Bangladesh ($658 per ton) and the Philippines ($667 per ton) were amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+3.0%), 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 Malaysia (CIF) - 2024
The average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $785 per ton in December 2023, rising by 2.5% against the previous month. Over the period from January 2023 to December 2023, it increased at an average monthly rate of +2.9%. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 13% against the previous month. The import price peaked in December 2023.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the countries with the highest prices were India ($784 per ton) and Thailand ($784 per ton), while the price for Indonesia ($719 per ton) and South Korea ($756 per ton) were amongst the lowest.
From January 2023 to December 2023, the most notable rate of growth in terms of prices was attained by India (+3.4%), 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 Malaysia
After three years of growth, shipments abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -16.1% to 240K tons in 2022. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 146%.
In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose shrank to $140M in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 150%.
| Export of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 0.1 | 48.7 | 118 | 74.1 | 804.9% |
| Singapore | 6.3 | 9.3 | 8.4 | 15.3 | 34.4% |
| Philippines | 0.6 | 4.5 | 1.1 | 10.2 | 157.1% |
| Taiwan (Chinese) | 4.3 | 5.8 | 0.6 | 6.8 | 16.5% |
| Papua New Guinea | 0.6 | 0.8 | 1.2 | 5.4 | 108.0% |
| China | 4.1 | 1.7 | N/A | 4.1 | 0.0% |
| New Zealand | 4.2 | 4.6 | 4.1 | 4.0 | -1.6% |
| South Korea | 5.5 | 6.3 | 7.8 | 3.5 | -14.0% |
| Fiji | 0.5 | 0.8 | 0.6 | 3.5 | 91.3% |
| Bangladesh | 1.8 | 1.4 | 2.3 | 3.1 | 19.9% |
| Hong Kong SAR | 3.3 | 6.2 | 1.6 | 2.4 | -10.1% |
| Indonesia | 5.5 | 8.1 | 1.1 | 0.4 | -58.3% |
| Others | 5.9 | 8.3 | 5.4 | 7.3 | 7.4% |
| Total | 42.6 | 106 | 152 | 140 | 48.7% |
Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Malaysia in 2022:
- Vietnam (127.6K tons)
- Singapore (26.0K tons)
- Philippines (17.4K tons)
- Taiwan (Chinese) (12.5K tons)
- Papua New Guinea (9.6K tons)
- New Zealand (7.5K tons)
- China (7.4K tons)
- South Korea (6.3K tons)
- Fiji (6.1K tons)
- Bangladesh (4.2K tons)
- Hong Kong SAR (4.2K tons)
- Indonesia (0.3K tons)
Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia
In 2022, approx. 117K tons of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose were imported into Malaysia; falling by -47.1% compared with the previous year's figure. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 115%. As a result, imports attained the peak of 221K tons, and then reduced notably in the following year.
In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose fell rapidly to $66M in 2022. Over the period under review, imports, however, saw a measured increase. The pace of growth appeared the most rapid in 2021 when imports increased by 160% against the previous year. As a result, imports attained the peak of $117M, and then reduced sharply in the following year.
| Import of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2.8 | 8.7 | 55.0 | 35.2 | 132.5% |
| Thailand | 53.5 | 29.3 | 54.0 | 25.8 | -21.6% |
| China | 1.2 | 1.1 | 5.7 | 2.2 | 22.4% |
| Indonesia | N/A | N/A | 0.1 | 1.4 | 1300.0% |
| Others | 0.9 | 6.0 | 2.4 | 1.4 | 15.9% |
| Total | 58.3 | 45.1 | 117 | 66.0 | 4.2% |
Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Malaysia in 2022:
- India (68.6K tons)
- Thailand (42.0K tons)
- Indonesia (2.3K tons)
- China (1.8K tons)
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