New Zealand: Sugars Market 2024

Sugars Market Size in New Zealand

After two years of growth, the New Zealand sugars market decreased by X% to $X in 2022. Overall, consumption continues to indicate a noticeable contraction. Sugars consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Sugars Exports

Exports from New Zealand

In 2022, shipments abroad of sugars, sugar ethers and salts decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sugars exports shrank markedly to $X in 2022. Over the period under review, exports saw a noticeable descent. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for sugars exports from New Zealand, with a X% share of total exports. Moreover, sugars exports to the United States exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

In value terms, the United States ($X) remains the key foreign market for sugars, sugar ethers and salts exports from New Zealand, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average sugars export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to China ($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 Fiji (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Sugars Imports

Imports into New Zealand

In 2022, approx. X tons of sugars, sugar ethers and salts were imported into New Zealand; shrinking by X% on the previous year. Overall, imports showed a slight contraction. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, sugars imports shrank rapidly to $X in 2022. Over the period under review, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of sugars to New Zealand, accounting for a X% share of total imports. Moreover, sugars imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. Italy (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 China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Italy (X% per year).

In value terms, Japan ($X) constituted the largest supplier of sugars, sugar ethers and salts to New Zealand, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Italy (X% per year).

Import Prices by Country

The average sugars import price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price continues to indicate a slight reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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