Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil - 2024

Contents:

1. Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil (FOB) - 2024
2. Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil (CIF) - 2024
3. Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil
4. Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil

Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil (FOB) - 2024

The average export price for raw cane sugar (without flavoring or coloring matter, other) stood at $514 per ton in January 2024, remaining stable against the previous month. Over the period from January 2023 to January 2024, it increased at an average monthly rate of +1.4%. The pace of growth appeared the most rapid in April 2023 an increase of 4.8% m-o-m. Over the period under review, the average export prices attained the peak figure at $521 per ton in October 2023; however, from November 2023 to January 2024, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In January 2024, the countries with the highest prices were Algeria ($532 per ton) and the United States ($528 per ton), while the average price for exports to Egypt ($399 per ton) and Bangladesh ($471 per ton) were amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil (CIF) - 2024

The average import price for raw cane sugar (without flavoring or coloring matter, other) stood at $1,498 per ton in January 2024, with an increase of 3.9% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From January 2023 to January 2024, the rate of growth in terms of prices for the United States amounted to +0.5% per month.

Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil

In 2022, overseas shipments of raw cane sugar (without flavoring or coloring matter, other) decreased by -7.6% to 23M tons, falling for the second year in a row after two years of growth. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +10.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.4% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 60%. As a result, the exports attained the peak of 28M tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) expanded remarkably to $9.5B in 2022. In general, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +25.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.2% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 59%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from Brazil in 2022:

1. China (4.3M tons)
2. Algeria (2.0M tons)
3. Nigeria (1.7M tons)
4. Morocco (1.6M tons)
5. Indonesia (1.3M tons)
6. Canada (1.2M tons)
7. Bangladesh (1.2M tons)
8. Saudi Arabia (1.1M tons)
9. Egypt (1.1M tons)
10. Malaysia (1.0M tons)
11. Iran (0.8M tons)
12. Iraq (0.7M tons)
13. Russia (0.7M tons)

Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in Brazil

In 2022, after three years of growth, there was significant decline in purchases abroad of raw cane sugar (without flavoring or coloring matter, other), when their volume decreased by -32.7% to 1.3K tons. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 93% against the previous year. As a result, imports attained the peak of 1.9K tons, and then declined dramatically in the following year.

In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) contracted remarkably to $1.6M in 2022. Overall, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 111%. As a result, imports reached the peak of $2.1M, and then shrank dramatically in the following year.

Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to Brazil in 2022:

1. United States (1224.7 tons)
2. Belgium (23.1 tons)

Source: IndexBox Market Intelligence Platform