Bangladesh: Sugar Market 2024

Sugar Market Size in Bangladesh

The Bangladeshi sugar market expanded remarkably to $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated measured growth from 2012 to 2022: its value 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, consumption increased by X% against 2018 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Sugar Production in Bangladesh

In value terms, sugar production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of sugar in Bangladesh stood at less than X kg per ha in 2022, approximately reflecting the previous year's figure. In general, the yield showed 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 Bangladesh totaled less than X ha, therefore, remained relatively stable against the previous year's figure. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Sugar Exports

Exports from Bangladesh

Sugar exports from Bangladesh declined remarkably to X tons in 2022, waning by X% on 2021 figures. Overall, exports showed a mild slump. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sugar exports reduced sharply to $X in 2022. In general, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for sugar exports from Bangladesh, accounting for a X% share of total exports. Moreover, sugar exports to the United Arab Emirates exceeded the volume sent to the second major destination, Canada (X tons), eightfold. The third position in this ranking was taken by Singapore (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Singapore (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for sugar exports from Bangladesh, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Canada (X% per year).

Export Prices by Country

The average sugar export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price, however, posted buoyant growth. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Canada ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sugar Imports

Imports into Bangladesh

In 2022, purchases abroad of sugar decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, sugar imports surged to $X in 2022. In general, total imports indicated temperate growth from 2012 to 2022: its value 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Brazil (X tons) and India (X tons) were the main suppliers of sugar imports to Bangladesh.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%).

In value terms, the largest sugar suppliers to Bangladesh were India ($X) and Brazil ($X).

India, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Brazil stood at $X per ton.

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

Source: IndexBox Platform

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