Saudi Arabia: Sugar Market Overview 2020

Sugar Market Size in Saudi Arabia

The revenue of the sugar market in Saudi Arabia amounted to $X in 2018, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total market indicated temperate growth from 2007 to 2018: its value decreased 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 2018 figures, sugar consumption increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the market value increased by X% y-o-y. Over the period under review, the sugar market attained its maximum level at $X in 2010; however, from 2011 to 2018, consumption stood at a somewhat lower figure.

Sugar Exports

Exports from Saudi Arabia

In 2018, approx. X tonnes of sugar were exported from Saudi Arabia; surging by X% against the previous year. Overall, sugar exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by X% year-to-year. Over the period under review, sugar exports reached their maximum in 2018 and are likely to continue its growth in the near future.

In value terms, sugar exports amounted to $X in 2018. Over the period under review, sugar exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Exports peaked at $X in 2010; however, from 2011 to 2018, exports failed to regain their momentum.

Exports by Country

Jordan (X tonnes) was the main destination for sugar exports from Saudi Arabia, with a X% share of total exports. Moreover, sugar exports to Jordan exceeded the volume sent to the second major destination, Iraq (X tonnes), more than tenfold.

From 2007 to 2018, the average annual growth rate of volume to Jordan stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+X% per year) and Turkey (+X% per year).

In value terms, Jordan ($X) remains the key foreign market for sugar exports from Saudi Arabia, comprising X% of total sugar exports. The second position in the ranking was occupied by Iraq ($X), with a X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of value to Jordan totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+X% per year) and Turkey (+X% per year).

Export Prices by Country

In 2018, the average sugar export price amounted to $X per tonne, falling by -X% against the previous year. In general, the sugar export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 an increase of X% y-o-y. Over the period under review, the average export prices for sugar reached their maximum at $X per tonne in 2011; however, from 2012 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Iraq ($X per tonne), while the average price for exports to Turkey ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Jordan, while the prices for the other major destinations experienced more modest paces of growth.

Sugar Imports

Imports into Saudi Arabia

Sugar imports into Saudi Arabia amounted to X tonnes in 2018, picking up by X% against the previous year. Overall, sugar imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X% year-to-year. Imports peaked at X tonnes in 2008; however, from 2009 to 2018, imports remained at a lower figure.

In value terms, sugar imports amounted to $X in 2018. Over the period under review, sugar imports continue to indicate a resilient increase. The growth pace was the most rapid in 2010 when imports increased by X% year-to-year. In that year, sugar imports attained their peak of $X. From 2011 to 2018, the growth of sugar imports remained at a lower figure.

Imports by Country

In 2018, Brazil (X tonnes) was the main sugar supplier to Saudi Arabia, accounting for a approx. X% share of total imports.

From 2007 to 2018, the average annual growth rate of volume from Brazil stood at +X%.

In value terms, Brazil ($X) constituted the largest supplier of sugar to Saudi Arabia.

From 2007 to 2018, the average annual growth rate of value from Brazil stood at +X%.

Import Prices by Country

The average sugar import price stood at $X per tonne in 2018, remaining stable against the previous year. Overall, the sugar import price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2009 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2018, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2007 to 2018, the rate of growth in terms of prices for Brazil amounted to +X% per year.

Source: IndexBox AI Platform