Asia: Sugar Crop Market 2024

Sugar Crop Market Size in Asia

The Asian sugar crop market amounted to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by X%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sugar Crop Production in Asia

In value terms, sugar crop production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

India (X tons) remains the largest sugar crop producing country in Asia, comprising approx. X% of total volume. Moreover, sugar crop production in India exceeded the figures recorded by the second-largest producer, China (X tons), fourfold. Thailand (X tons) ranked third in terms of total production with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in India amounted to X%. In the other countries, the average annual rates were as follows: China (X% per year) and Thailand (X% per year).

The average sugar crop yield expanded modestly to X tons per ha in 2022, surging by X% compared with the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. Over the period under review, the sugar crop yield hit record highs in 2022 and is expected to retain growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sugar crop harvested area expanded slightly to X ha in 2022, picking up by X% compared with the year before. Overall, the harvested area, however, saw a relatively flat trend pattern. Over the period under review, the harvested area dedicated to sugar crop production reached the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Sugar Crop Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of sugar crops, which increased by X% to X tons in 2022. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, sugar crop exports dropped modestly to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2021, and then declined modestly in the following year.

Exports by Country

Lao People's Democratic Republic was the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Myanmar (X tons), committing 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 ($X) remains the largest sugar crop supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Lao People's Democratic Republic amounted to X%.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price showed a deep slump. The pace of growth appeared the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat 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 stood at $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 Asia

In 2022, overseas purchases of sugar crops increased by X% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, imports saw a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, sugar crop imports surged to $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The purchases of the one major importers of sugar crops, namely China, represented more than two-thirds of total import.

China was also the fastest-growing in terms of the sugar crops imports, with a CAGR of X% from 2012 to 2022. China (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sugar crops in Asia.

In China, sugar crop imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

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