Report Update Apr 1, 2024

Cuba - Sugar - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Cuba: Sugar Market 2024

Sugar Market Size in Cuba

The Cuban sugar market surged to $X in 2021, jumping by 44% against the previous year. In general, consumption, however, saw a mild curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Sugar Production in Cuba

In value terms, sugar production stood at $X in 2021 estimated in export price. Overall, production recorded a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 28%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Sugar Exports

Exports from Cuba

In 2021, the amount of sugar exported from Cuba shrank remarkably to X tons, with a decrease of -45.7% against 2020 figures. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 47% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, sugar exports contracted notably to $X in 2021. In general, exports faced a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 47% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for sugar exports from Cuba, accounting for a 61% share of total exports. Moreover, sugar exports to China exceeded the volume sent to the second major destination, Portugal (X tons), threefold. The third position in this ranking was taken by Romania (X tons), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+5.8% per year) and Romania (-8.2% per year).

In value terms, China ($X) remains the key foreign market for sugar exports from Cuba, comprising 67% of total exports. The second position in the ranking was held by Portugal ($X), with a 20% share of total exports. It was followed by Romania, with an 8% share.

From 2012 to 2021, the average annual growth rate of value to China stood at -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-2.7% per year) and Romania (-11.9% per year).

Export Prices by Country

In 2021, the average sugar export price amounted to $X per ton, with an increase of 12% against the previous year. In general, the export price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2016 when the average export price increased by 32%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were China ($X per ton) and Romania ($X per ton), while the average price for exports to Spain ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (-2.5%), while the prices for the other major destinations experienced a decline.

Sugar Imports

Imports into Cuba

In 2021, purchases abroad of sugar increased by 287% to X tons, rising for the third year in a row after six years of decline. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 380%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sugar imports skyrocketed to $X in 2021. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tons) and Angola (X tons) were the main suppliers of sugar imports to Cuba.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +24.9%).

In value terms, Spain ($X) constituted the largest supplier of sugar to Cuba, comprising 74% of total imports. The second position in the ranking was taken by Angola ($X), with a 26% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to +36.4%.

Import Prices by Country

The average sugar import price stood at $X per ton in 2021, surging by 12% against the previous year. Over the period under review, the import price posted a buoyant increase. The pace of growth was the most pronounced in 2018 when the average import price increased by 60%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Angola totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sugar in the world?

The countries with the highest volumes of consumption in 2021 were India, China and Thailand, together comprising 34% of global consumption.

What are the largest producers of sugar in the world?

The countries with the highest volumes of production in 2021 were India, Brazil and Thailand, together comprising 43% of global production.

What are the leading suppliers of sugar to Cuba?

In value terms, Spain constituted the largest supplier of sugar to Cuba, comprising 74% of total imports. The second position in the ranking was held by Angola, with a 26% share of total imports.

What are the leading importers of sugar from Cuba?

In value terms, China remains the key foreign market for sugar exports from Cuba, comprising 67% of total exports. The second position in the ranking was taken by Portugal, with a 20% share of total exports. It was followed by Romania, with an 8% share.

What is the average export price for sugar in Cuba?

In 2021, the average sugar export price amounted to $395 per ton, increasing by 12% against the previous year.

What is the average import price for sugar in Cuba?

In 2021, the average sugar import price amounted to $769 per ton, increasing by 12% against the previous year.

This report provides an in-depth analysis of the sugar market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 162 - Sugar, Raw Centrifugal
FCL 163 -

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023