Norway - Sugar - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSugar Price in Norway - 2023
Contents:
- Sugar Price in Norway (CIF) - 2023
- Sugar Price in Norway (FOB) - 2022
- Sugar Imports in Norway
- Sugar Exports in Norway
Sugar Price in Norway (CIF) - 2023
In August 2023, the average sugar import price amounted to $2,692 per ton, growing by 44% against the previous month. Overall, import price indicated a tangible expansion from August 2022 to August 2023: its price increased at an average monthly rate of +4.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2023 figures, sugar import price increased by +90.9% against May 2023 indices. The growth pace was the most rapid in June 2023 an increase of 90% m-o-m. The import price peaked in August 2023.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was the UK ($4,742 per ton), while the price for Brazil ($1,708 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Brazil (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Sugar Price in Norway (FOB) - 2022
The average sugar export price stood at $3,183 per ton in 2022, picking up by 93% against the previous year. In general, the export price continues to indicate resilient growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for Denmark.
From 2012 to 2022, the rate of growth in terms of prices for Iceland amounted to +39.3% per year.
Sugar Imports in Norway
After three years of growth, purchases abroad of sugar decreased by -6.7% to 742 tons in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 6.2%.
In value terms, sugar imports reduced modestly to $1.5M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 13%. As a result, imports attained the peak of $1.6M, and then shrank slightly in the following year.
| Import of Sugar in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 444 | 455 | 550 | 955 | 29.1% |
| Brazil | 57.1 | 85.8 | 83.1 | 185 | 48.0% |
| Malawi | 83.3 | 89.1 | 110 | 150 | 21.7% |
| United Kingdom | 50.0 | 50.5 | 59.4 | 124 | 35.4% |
| Mauritius | 4.2 | 14.0 | 11.6 | 22.7 | 75.5% |
| India | 21.7 | 21.0 | 30.3 | 14.1 | -13.4% |
| Others | 832 | 701 | 759 | 81.6 | -53.9% |
| Total | 1,492 | 1,416 | 1,604 | 1,532 | 0.9% |
Top Suppliers of Sugar to Norway in 2022:
- Denmark (411.8 tons)
- Brazil (174.0 tons)
- Malawi (73.1 tons)
- United Kingdom (47.5 tons)
- Mauritius (11.8 tons)
- India (5.9 tons)
Sugar Exports in Norway
In 2022, approx. 960 kg of sugar were exported from Norway; which is down by -37.5% on 2021 figures. In general, exports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 3%.
In value terms, sugar exports skyrocketed to $3.1K in 2022. Overall, exports saw a significant decline.
| Export of Sugar in Norway (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Denmark | 6.6 | 1.5 | 1.6 | 3.1 | -22.3% |
| Spain | N/A | N/A | 0.1 | N/A | 0% |
| Sweden | 0.2 | N/A | N/A | N/A | 0% |
| Netherlands | 0.2 | 0.2 | 0.3 | N/A | 22.5% |
| Ghana | N/A | N/A | N/A | N/A | 0% |
| Others | 0.9 | 0.8 | 0.5 | N/A | -25.5% |
| Total | 7.8 | 2.5 | 2.5 | 3.1 | -26.5% |
Top Export Markets for Sugar from Norway in 2022:
- Denmark (960.0 kg)
This report provides an in-depth analysis of the sugar market in Norway. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 162 - Sugar, Raw Centrifugal
- FCL 163 - Sugar, Non-Centrifugal
Country coverage:
- Norway
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Norway
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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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.
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The global sugar market rose to $105.3B in 2019, surging by 1.9% against the previous year. This figure reflects the...
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