ASEAN: Sugar Crop Market 2024

Sugar Crop Market Size in ASEAN

In 2022, the ASEAN sugar crop market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sugar Crop Production in ASEAN

In value terms, sugar crop production fell to $X in 2022 estimated in export price. Overall, production, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of sugar crop production was Thailand (X tons), comprising approx. X% of total volume. Moreover, sugar crop production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), threefold. The third position in this ranking was held by the Philippines (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Thailand was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Indonesia (X% per year) and the Philippines (X% per year).

The average sugar crop yield rose remarkably to X tons per ha in 2022, picking up by X% on 2021. Overall, the yield, however, continues to indicate a mild slump. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sugar crops production in ASEAN expanded slightly to X ha, surging by X% compared with 2021. In general, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the sugar crop harvested area failed to regain momentum.

Sugar Crop Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in shipments abroad of sugar crops, which increased by X% to X tons in 2022. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sugar crop exports declined to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Lao People's Democratic Republic (X tons) represented the major exporter of sugar crops, mixing up X% of total exports. It was distantly followed by Myanmar (X tons), generating a X% share of total exports.

Lao People's Democratic Republic was also the fastest-growing in terms of the sugar crops exports, with a CAGR of X% from 2012 to 2022. At the same time, Myanmar (X%) displayed positive paces of growth. From 2012 to 2022, the share of Lao People's Democratic Republic and Myanmar increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lao People's Democratic Republic ($X) remains the largest sugar crop supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports.

In Lao People's Democratic Republic, sugar crop exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, waning by X% against the previous year. Overall, the export price showed a sharp shrinkage. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Lao People's Democratic Republic amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (X%).

Sugar Crop Imports

Imports in ASEAN

Sugar crop imports dropped to X tons in 2022, with a decrease of X% on the previous year. Over the period under review, imports saw a noticeable slump. The growth pace was the most rapid in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar crop imports contracted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Singapore represented the major importer of sugar crops in ASEAN, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Vietnam (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Myanmar (X%) and Thailand (X%).

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Vietnam ($X), Singapore ($X) and Myanmar ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, which is down by X% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugar crop import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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