GCC: Sugar Crop Market 2024

Sugar Crop Market Size in GCC

In 2022, the GCC sugar crop market increased by X% to $X, rising for the sixth year in a row after four years of decline. In general, consumption, however, saw a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sugar Crop Production in GCC

In value terms, sugar crop production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Oman (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons), together accounting for X% of total production.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average sugar crop yield reduced dramatically to X tons per ha in 2022, with a decrease of X% on the previous year. In general, the yield continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the sugar crop yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of sugar crops were harvested in GCC; with an increase of X% against the year before. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the harvested area attained the peak level and is likely to continue growth in the immediate term.

Sugar Crop Exports

Exports in GCC

In 2022, shipments abroad of sugar crops increased by X% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, sugar crop exports soared to $X in 2022. In general, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates exports structure, together making up X% of total exports. It was distantly followed by Oman (X tons), mixing up a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, growing by X% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price 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, sugar crop export price increased by X% against 2018 indices. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Sugar Crop Imports

Imports in GCC

In 2022, approx. X tons of sugar crops were imported in GCC; picking up by X% compared with 2021 figures. In general, imports showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sugar crop imports soared to $X in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons) and Oman (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Kuwait (X tons), committing a X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar crop importing markets in GCC were the United Arab Emirates ($X), Oman ($X) and Kuwait ($X), together comprising X% of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, dropping by X% against the previous year. Overall, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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