South-Eastern Asia: Sugars Market 2024

Sugars Market Size in South-Eastern Asia

In 2022, the Southeast Asian sugars market decreased by X% to $X for the first time since 2014, thus ending a seven-year rising trend. The total consumption indicated a strong increase from 2012 to 2022: its value 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. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Sugars Production in South-Eastern Asia

In value terms, sugars production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Sugars Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of sugars, sugar ethers and salts decreased by X% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sugars exports declined to $X in 2022. Over the period under review, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Thailand (X tons) represented the major exporter of sugars, sugar ethers and salts, committing X% of total exports. It was distantly followed by Indonesia (X tons), generating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%).

In value terms, Thailand ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand stood at $X per ton.

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

Sugars Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of sugars, sugar ethers and salts decreased by X% to X tons, falling for the second year in a row after three years of growth. Total imports indicated a prominent increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sugars imports expanded notably to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Vietnam (X tons), Thailand (X tons), Indonesia (X tons), Malaysia (X tons) and Singapore (X tons) represented the major importer of sugars, sugar ethers and salts in South-Eastern Asia, generating X% of total import. The Philippines (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Singapore ($X per ton), while Malaysia ($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 Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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