Australia: Sugar Market 2024

Sugar Market Size in Australia

The Australian sugar market declined modestly to $X in 2022, remaining constant against the previous year. In general, consumption, however, recorded a mild decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Sugar Production in Australia

In value terms, sugar production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average sugar yield in Australia amounted to less than X kg per ha, standing approx. at 2021 figures. Overall, the yield recorded a relatively flat trend pattern. 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 production in Australia was estimated at less than X ha, approximately reflecting the year before. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

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Sugar Exports

Exports from Australia

In 2022, after three years of growth, there was significant decline in shipments abroad of sugar, when their volume decreased by X% to X tons. In general, exports continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, sugar exports shrank significantly to $X in 2022. Over the period under review, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kiribati (X tons), Tuvalu (X tons) and Papua New Guinea (X tons) were the main destinations of sugar exports from Australia, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tuvalu (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Kiribati ($X), Tuvalu ($X) and Papua New Guinea ($X) constituted the largest markets for sugar exported from Australia worldwide, with a combined X% share of total exports.

Among the main countries of destination, Tuvalu, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average sugar export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Kiribati ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Sugar Imports

Imports into Australia

In 2022, approx. X tons of sugar were imported into Australia; with a decrease of X% against the previous year's figure. Over the period under review, imports continue to indicate a sharp downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar imports shrank markedly to $X in 2022. In general, imports saw a sharp slump. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of sugar to Australia, accounting for a X% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, the largest sugar suppliers to Australia were Brazil ($X), India ($X) and China ($X), with a combined X% share of total imports. Colombia, Sri Lanka, Paraguay, Mauritius, Thailand and Guatemala lagged somewhat behind, together accounting for a further X%.

Sri Lanka, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, showed strong growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Guatemala ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by El Salvador (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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