Southern Asia: Sugars Market 2024

Sugars Market Size in Southern Asia

The South Asian sugars market amounted to $X in 2023, remaining stable against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 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 Southern Asia

In value terms, sugars production reduced slightly to $X in 2023 estimated in export price. The total production indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

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Sugars Exports

Exports in Southern Asia

In 2023, after three years of growth, there was significant decline in overseas shipments of sugars, sugar ethers and salts, when their volume decreased by X% to X tons. In general, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2022, and then declined sharply in the following year.

In value terms, sugars exports surged to $X in 2023. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in the near future.

Exports by Country

The shipments of the one major exporters of sugars, sugar ethers and salts, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the sugars, sugar ethers and salts exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest sugars supplier in Southern Asia.

From 2012 to 2023, the average annual growth rate of value in India amounted to X%.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, jumping by X% against the previous year. In general, the export price enjoyed strong growth. The level of export peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Sugars Imports

Imports in Southern Asia

For the third year in a row, Southern Asia recorded growth in overseas purchases of sugars, sugar ethers and salts, which increased by X% to X tons in 2023. Total imports indicated a prominent expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in years to come.

In value terms, sugars imports dropped to $X in 2023. Over the period under review, imports enjoyed resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

India prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Pakistan (X tons), committing a X% share of total imports. The following importers - Bangladesh (X tons) and Nepal (X tons) - each reached an X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2023. At the same time, Nepal (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, Bangladesh (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and Nepal (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Pakistan (X p.p.) and Bangladesh (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported sugars, sugar ethers and salts in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in India stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price showed a slight shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a somewhat lower figure.

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 Pakistan ($X per ton), while Nepal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform