SADC: Sugars Market 2024

Sugars Market Size in SADC

The SADC sugars market dropped slightly to $X in 2023, remaining constant against the previous year. The total consumption indicated a remarkable increase 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, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Sugars Production in SADC

In value terms, sugars production shrank modestly to $X in 2023 estimated in export price. Over the period under review, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Sugars Exports

Exports in SADC

In 2023, approx. X tons of sugars, sugar ethers and salts were exported in SADC; rising by X% against the previous year's figure. In general, exports showed a prominent increase. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, sugars exports skyrocketed to $X in 2023. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The level of export peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Namibia dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. Swaziland (X tons) followed a long way behind the leaders.

Namibia was also the fastest-growing in terms of the sugars, sugar ethers and salts exports, with a CAGR of X% from 2012 to 2023. Swaziland experienced a relatively flat trend pattern. From 2012 to 2023, the share of Namibia increased by X percentage points.

In value terms, the largest sugars supplying countries in SADC were Swaziland ($X) and Namibia ($X).

Namibia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2023, the export price in SADC amounted to $X per ton, falling by X% against the previous year. Overall, the export price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while Namibia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Swaziland (X%).

Sugars Imports

Imports in SADC

Sugars imports shrank notably to X tons in 2023, which is down by X% compared with the previous year's figure. Overall, imports, however, enjoyed slight growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, sugars imports fell sharply to $X in 2023. In general, imports, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

South Africa dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. Namibia (X tons) took the second position in the ranking, followed by Democratic Republic of the Congo (X tons). All these countries together took near X% share of total imports. Lesotho (X tons) and Angola (X tons) took a relatively small share of total imports.

Imports into South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Angola (X%) and Lesotho (X%) displayed positive paces of growth. Moreover, Angola emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. By contrast, Democratic Republic of the Congo (X%) and Namibia (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Democratic Republic of the Congo (X p.p.) and Namibia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported sugars, sugar ethers and salts in SADC, comprising X% of total imports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total imports. It was followed by Angola, with a X% share.

In South Africa, sugars imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Democratic Republic of the Congo (X% per year) and Angola (X% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2023, falling by X% against the previous year. Import price indicated temperate growth from 2012 to 2023: its price 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, sugars import price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

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 Angola ($X per ton), while Lesotho ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform