Saudi Arabia: Sugar Market Overview 2021

Sugar Market Size in Saudi Arabia

The Saudi sugar market totaled $X in 2019, stabilizing at 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). In general, consumption, however, continues to indicate slight growth. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Sugar consumption peaked at $X in 2013; however, from 2014 to 2019, consumption remained at a lower figure.

Sugar Exports

Exports from Saudi Arabia

In 2019, overseas shipments of sugar decreased by -X% to X tonnes for the first time since 2015, thus ending a three-year rising trend. Overall, exports, however, showed a temperate increase. The pace of growth was the most pronounced in 2016 with an increase of X% y-o-y. Exports peaked at X tonnes in 2018, and then declined notably in the following year.

In value terms, sugar exports contracted significantly to $X in 2019. Over the period under review, exports, however, continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. As a result, exports attained the peak of $X. From 2017 to 2019, the growth exports remained at a somewhat lower figure.

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, Italy (X tonnes), more than tenfold.

From 2007 to 2019, 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: Italy (X% per year) and Palestine (X% per year).

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

From 2007 to 2019, the average annual rate of growth in terms of value to Jordan stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Palestine (X% per year) and Italy (X% per year).

Export Prices by Country

In 2019, the average sugar export price amounted to $X per tonne, declining by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per tonne in 2011; however, from 2012 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Jordan ($X per tonne), while the average price for exports to Italy ($X per tonne) was amongst the lowest.

From 2007 to 2019, 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

In 2019, overseas purchases of sugar decreased by -X% to X tonnes for the first time since 2015, thus ending a three-year rising trend. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at X tonnes in 2018, and then contracted in the following year.

In value terms, sugar imports contracted to $X in 2019. Overall, imports, however, showed modest growth. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. Imports peaked at $X in 2013; however, from 2014 to 2019, imports failed to regain the momentum.

Imports by Country

In 2019, Brazil (X tonnes) was the main supplier of sugar to Saudi Arabia, accounting for a approx. X% share of total imports.

From 2007 to 2019, the average annual growth rate of volume from Brazil totaled +X%.

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

From 2007 to 2019, the average annual rate of growth in terms of value from Brazil stood at +X%.

Import Prices by Country

The average sugar import price stood at $X per tonne in 2019, falling by -X% against the previous year. Overall, import price indicated mild growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, sugar import price decreased by -X% against 2011 indices. The pace of growth was the most pronounced in 2010 when the average import price increased by X% year-to-year. Over the period under review, average import prices reached the peak figure at $X per tonne in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

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

From 2007 to 2019, the rate of growth in terms of prices for Brazil amounted to +X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sugar in the world?

+

The countries with the highest volumes of sugar consumption in 2019 were India (35M tonnes), China (24M tonnes) and Brazil (20M tonnes), together accounting for 39% of global consumption. Thailand, the U.S., Russia, Mexico, Indonesia, France, Pakistan, Germany and Egypt lagged somewhat behind, together comprising a further 30%.

What are the largest producers of sugar in the world?

+

The countries with the highest volumes of sugar production in 2019 were India (35M tonnes), Brazil (28M tonnes) and China (22M tonnes), together comprising 43% of global production. These countries were followed by Thailand, the U.S., Mexico, Russia, France, Pakistan, Australia, Germany and Guatemala, which together accounted for a further 32%.

What are the leading suppliers of sugar to Saudi Arabia?

+

In value terms, Brazil ($334M) constituted the largest supplier of sugar to Saudi Arabia.

What are the leading importers of sugar from Saudi Arabia?

+

In value terms, Jordan ($34M) remains the key foreign market for sugar exports from Saudi Arabia, comprising 94% of total exports. The second position in the ranking was occupied by Palestine ($683K), with a 1.9% share of total exports.

What is the average export price for sugar in Saudi Arabia?

+

In 2019, the average sugar export price amounted to $402 per tonne, dropping by -8.3% against the previous year.

What is the average import price for sugar in Saudi Arabia?

+

In 2019, the average sugar import price amounted to $311 per tonne, shrinking by -1.9% against the previous year.