South-Eastern Asia: Sugar Crop Market 2024

Sugar Crop Market Size in South-Eastern Asia

In 2022, the Southeast Asian sugar crop market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, showed a pronounced downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sugar Crop Production in South-Eastern Asia

In value terms, sugar crop production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt downturn. The growth pace was the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The country with the largest volume of sugar crop production was Thailand (X tons), accounting for X% of total volume. Moreover, sugar crop production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), threefold. The Philippines (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Thailand was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Indonesia (X% per year) and the Philippines (X% per year).

In 2022, the average yield of sugar crops in South-Eastern Asia expanded sharply to X tons per ha, growing by X% against the previous year's figure. Over the period under review, the yield, however, showed a slight reduction. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the sugar crop harvested area in South-Eastern Asia totaled X ha, growing by X% compared with the year before. Overall, the harvested area showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the sugar crop harvested area failed to regain momentum.

Sugar Crop Exports

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in overseas shipments of sugar crops, which increased by X% to X tons in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, sugar crop exports contracted to $X in 2022. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Lao People's Democratic Republic represented the largest exporter of sugar crops in South-Eastern Asia, with the volume of exports recording X tons, which was near X% of total exports in 2022. It was distantly followed by Myanmar (X tons), comprising a X% share of total exports.

Lao People's Democratic Republic was also the fastest-growing in terms of the sugar crops exports, with a CAGR of X% from 2012 to 2022. At the same time, Myanmar (X%) displayed positive paces of growth. Lao People's Democratic Republic (X p.p.) and Myanmar (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lao People's Democratic Republic ($X) remains the largest sugar crop supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Lao People's Democratic Republic amounted to X%.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price showed a dramatic setback. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Lao People's Democratic Republic stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (X%).

Sugar Crop Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded decline in overseas purchases of sugar crops, which decreased by X% to X tons in 2022. Overall, imports showed a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, sugar crop imports contracted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Singapore (X tons) represented the main importer of sugar crops, achieving X% of total imports. It was distantly followed by Vietnam (X tons), Myanmar (X tons) and Thailand (X tons), together committing a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest sugar crop importing markets in South-Eastern Asia were Vietnam ($X), Singapore ($X) and Myanmar ($X), with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugar crop import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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