Brazil’s Sugar Exports to Reach the Highest Level with Doubling Supplies to China
IndexBox has just published a new report: ‘Brazil – Sugar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
From January to August 2021, Brazil’s exported 23.7M tonnes, which was 26% larger than in the same period of 2020. This year, China’s sugar purchases from Brazil have doubled, reaching 4M tonnes. Shipments to Algeria, Nigeria, Saudi Arabia, Malaysia, Canada, and the United Arab Emirates have also grown sharply. Last year, sugar exports from Brazil hit record 27M tonnes, jumping by +67% y-o-y. In value terms, exports constituted $7.4B. China, Algeria and Bangladesh were the largest importers of Brazilian sugar in 2020.
Brazil’s Sugar Exports by Country
From January to August 2021, Brazil’s sugar exports reached 23.7M tonnes, up 26% from the same period in 2020. In value terms, exports exceeded $5.8B over eight-month of 2021. It is expected that sugar exports from Brazil will hit the last year’s record by the end of 2021.
This year, soaring supplies to China, Algeria, Nigeria, Saudi Arabia, Malaysia, Canada, and the United Arab Emirates provided the most export increment. China’s sugar purchases rose twofold against the same period of 2020, reaching 4M tonnes by September 2021.
In 2020, the amount of sugar exported from Brazil skyrocketed to 27M tonnes, jumping by +67% compared with 2019. In value terms, sugar exports skyrocketed by +70% y-o-y to $7.4B (IndexBox estimates) in 2020.
China (4.7M tonnes), Algeria (2.4M tonnes) and Bangladesh (2.3M tonnes) were the main destinations of sugar exports from Brazil, with a combined 35% share of total exports. These countries were followed by India, Indonesia, Nigeria, Morocco, Malaysia, Saudi Arabia, Iraq, the United Arab Emirates, Canada and Egypt, which together accounted for a further 51%.
In 2020, the most notable rate of growth in terms of shipments, amongst the leading countries of destination, was attained by Malaysia, while exports for the other leaders experienced more modest paces of growth. Malaysian sugar purchases from Brazil grew fourfold in physical terms.
In value terms, China ($1.3B), Algeria ($669M) and Bangladesh ($628M) constituted the largest markets for sugar exported from Brazil worldwide, with a combined 35% share of total exports. These countries were followed by India, Indonesia, Nigeria, Morocco, Malaysia, Saudi Arabia, Iraq, the United Arab Emirates, Canada and Egypt, which together accounted for a further 50%.
In 2020, the average sugar export price amounted to $277 per tonne, almost unchanged from the previous year. Average prices varied noticeably for the significant foreign markets. In 2020, the countries with the highest prices were Morocco ($281 per tonne) and Bangladesh ($279 per tonne), while the average prices for exports to Iraq ($263 per tonne) and Indonesia ($269 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Morocco, while the prices for the other significant destinations experienced more modest paces of growth.
Source: IndexBox Platform
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