MERCOSUR: Sugar Crop Market 2024

Sugar Crop Market Size in MERCOSUR

In 2022, the MERCOSUR sugar crop market was finally on the rise to reach $X.2B after three years of decline. Over the period under review, consumption, however, showed a mild curtailment. The level of consumption peaked at $X.2B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Sugar Crop Production in MERCOSUR

In value terms, sugar crop production shrank to $X.2B in 2022 estimated in export price. Over the period under review, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X.7B in 2017; however, from 2018 to 2022, production remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of sugar crop production, accounting for X% of total volume. Moreover, sugar crop production in Brazil exceeded the figures recorded by the second-largest producer, Colombia (X tons), more than tenfold.

In Brazil, sugar crop production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Argentina (X% per year).

In 2022, the average yield of sugar crops in MERCOSUR expanded slightly to X tons per ha, surging by X% compared with 2021. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the sugar crop yield attained the maximum level at X tons per ha in 2013; however, from 2014 to 2022, the yield remained at a 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, the harvested area of sugar crops in MERCOSUR fell to X ha, with a decrease of X% compared with the year before. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Sugar Crop Exports

Exports in MERCOSUR

After three years of growth, overseas shipments of sugar crops decreased by X% to X tons in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, sugar crop exports reduced remarkably to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

Brazil represented the largest exporter of sugar crops in MERCOSUR, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Colombia (X tons) took the second position in the ranking, distantly followed by Peru (X tons). All these countries together held approx. X% share of total exports.

Brazil was also the fastest-growing in terms of the sugar crops exports, with a CAGR of X% from 2012 to 2022. At the same time, Colombia (X%) displayed positive paces of growth. Peru experienced a relatively flat trend pattern. While the share of Brazil (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Colombia (X p.p.) and Peru (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X), Peru ($X) and Colombia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Brazil, 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 MERCOSUR amounted to $X per ton, shrinking by X% against the previous year. In general, the export price showed a deep downturn. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 Peru ($X per ton), while Brazil ($X per ton) was amongst the lowest.

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

Sugar Crop Imports

Imports in MERCOSUR

Sugar crop imports soared to X tons in 2022, growing by X% compared with 2021. In general, imports, however, recorded a precipitous curtailment. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sugar crop imports expanded significantly to $X in 2022. Overall, imports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of sugar crops, namely Argentina, Peru, Colombia, Chile and Brazil, represented more than two-thirds of total import. It was distantly followed by Suriname (X tons), constituting a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Colombia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar crop importing markets in MERCOSUR were Argentina ($X), Peru ($X) and Chile ($X), together comprising X% of total imports. Brazil, Colombia and Suriname lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Colombia, 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

The import price in MERCOSUR stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. The level of import peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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