Canada: Sugar Market 2024

Sugar Market Size in Canada

In 2022, the Canadian sugar market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, posted a modest increase. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced modestly in the following year.

Sugar Production in Canada

In value terms, sugar production contracted to $X in 2022 estimated in export price. In general, production saw a deep reduction. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Sugar production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average sugar yield in Canada amounted to less than X kg per ha, almost unchanged from the previous year. Over the period under review, the yield continues to indicate 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 Canada amounted to less than X ha, remaining relatively unchanged against 2021. Overall, the harvested area recorded a relatively flat trend pattern.

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Sugar Exports

Exports from Canada

Sugar exports from Canada dropped dramatically to X tons in 2022, declining by X% compared with 2021. In general, exports faced a sharp downturn. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sugar exports dropped remarkably to $X in 2022. Over the period under review, exports saw a dramatic contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons), Barbados (X tons) and the United States (X tons) were the main destinations of sugar exports from Canada, with a combined X% share 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 Hong Kong SAR (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for sugar exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Barbados, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Barbados (X% per year).

Export Prices by Country

In 2022, the average sugar export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, recorded a noticeable contraction. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to France ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Sugar Imports

Imports into Canada

In 2022, overseas purchases of sugar decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, sugar imports rose rapidly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of sugar to Canada, accounting for a X% share of total imports. Moreover, sugar imports from Brazil exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), ninefold. El Salvador (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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and El Salvador (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of sugar to Canada, comprising X% of total imports. The second position in the ranking was taken by Guatemala ($X), with an X% share of total imports. It was followed by El Salvador, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (X% per year) and El Salvador (X% per year).

Import Prices by Country

In 2022, the average sugar import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, recorded a slight setback. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were El Salvador ($X per ton) and Mexico ($X per ton), while the price for Guatemala ($X per ton) and Brazil ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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