MERCOSUR: Sugars Market 2024

Sugars Market Size in MERCOSUR

The MERCOSUR sugars market fell modestly to $X in 2023, approximately equating the previous year. Overall, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Sugars Production in MERCOSUR

In value terms, sugars production reduced modestly to $X in 2023 estimated in export price. Overall, production continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2022 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Sugars Exports

Exports in MERCOSUR

In 2023, sugars exports in MERCOSUR shrank markedly to X tons, with a decrease of X% compared with the year before. In general, exports, however, posted tangible growth. The pace of growth was the most pronounced in 2019 when exports increased by X%. The volume of export peaked at X tons in 2022, and then contracted remarkably in the following year.

In value terms, sugars exports amounted to $X in 2023. Total exports indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Brazil (X tons) represented the largest exporter of sugars, sugar ethers and salts, achieving X% of total exports. Chile (X tons) took the second position in the ranking, distantly followed by Colombia (X tons). All these countries together took approx. X% share of total exports. Argentina (X tons) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of X% from 2012 to 2023. At the same time, Chile (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. By contrast, Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Chile, Brazil and Colombia increased by X, X and X percentage points, respectively.

In value terms, Brazil ($X) remains the largest sugars supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was held by Chile ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Brazil stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price recorded a moderate expansion. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Chile ($X per ton) and Argentina ($X per ton), while Brazil ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced mixed trends in the export price figures.

Sugars Imports

Imports in MERCOSUR

For the third consecutive year, MERCOSUR recorded growth in supplies from abroad of sugars, sugar ethers and salts, which increased by X% to X tons in 2023. In general, imports saw buoyant growth. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked in 2023 and is likely to see steady growth in the near future.

In value terms, sugars imports dropped slightly to $X in 2023. Total imports indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then reduced slightly in the following year.

Imports by Country

In 2023, Brazil (X tons) represented the largest importer of sugars, sugar ethers and salts, generating X% of total imports. It was distantly followed by Colombia (X tons), Argentina (X tons), Peru (X tons) and Chile (X tons), together generating a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to sugars imports into Brazil stood at X%. At the same time, Peru (X%), Colombia (X%) and Chile (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of X% from 2012-2023. By contrast, Argentina (X%) illustrated a downward trend over the same period. While the share of Peru (X p.p.), Colombia (X p.p.), Brazil (X p.p.) and Chile (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Argentina (X p.p.) displayed negative dynamics.

In value terms, Brazil ($X) constitutes the largest market for imported sugars, sugar ethers and salts in MERCOSUR, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports. It was followed by Colombia, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Colombia (X% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price saw a pronounced decline. The pace of growth was the most pronounced in 2020 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform