IndexBox has just published a new report: ‘Middle East – Sugar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the sugar market in the Middle East amounted to $5.9B in 2018, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

The market value increased at an average annual rate of +3.9% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2011, when the market value increased by 20% against the previous year. Over the period under review, the sugar market attained its peak figure level in 2018, and is likely to continue its growth in the near future.

Production in the Middle East

In 2018, the amount of sugar produced in the Middle East totaled 4.1M tonnes, picking up by 2.4% against the previous year. The total output volume increased at an average annual rate of +2.2% over the period from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed over the period under review.

Exports in the Middle East

In 2018, approx. 235K tonnes of sugar were exported in the Middle East; picking up by 4.9% against the previous year. In general, sugar exports continue to indicate a prominent growth. In value terms, sugar exports stood at $111M (IndexBox estimates) in 2018.

Exports by Country

The exports of the two major exporters of sugar, namely Saudi Arabia and the United Arab Emirates, represented more than two-thirds of total export.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Saudi Arabia.

In value terms, the United Arab Emirates ($57M) and Saudi Arabia ($54M) were the countries with the highest levels of exports in 2018, together comprising 100% of total exports.

Export Prices by Country

The sugar export price in the Middle East stood at $474 per tonne in 2018, dropping by -4.3% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +1.5%. Average export prices varied noticeably amongst the major exporting countries. In 2018, the country with the highest export price was the United Arab Emirates ($511 per tonne), while Saudi Arabia stood at $439 per tonne.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by the United Arab Emirates.

Imports in the Middle East

In 2018, the amount of sugar imported in the Middle East stood at 4.8M tonnes, reducing by -8.1% against the previous year. The total imports indicated a modest growth from 2007 to 2018: its volume increased at an average annual rate of +1.1% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the sugar imports decreased by -0.8% against 2014 indices. In value terms, sugar imports stood at $1.6B (IndexBox estimates) in 2018.

Imports by Country

In 2018, the United Arab Emirates (1.2M tonnes), Iraq (1.1M tonnes) and Saudi Arabia (1.1M tonnes) represented the largest importers of sugar in the Middle East, comprising 72% of total import. Iran (698K tonnes) ranks next in terms of the total imports with a 15% share, followed by Yemen (6.4%). Jordan (122K tonnes) and Israel (83K tonnes) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Iraq, while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($353M), Saudi Arabia ($350M) and Iraq ($332M) appeared to be the countries with the highest levels of imports in 2018, together comprising 67% of total imports. Iran, Yemen, Jordan and Israel lagged somewhat behind, together comprising a further 30%.

Import Prices by Country

The sugar import price in the Middle East stood at $324 per tonne in 2018, dropping by -16.7% against the previous year. The import price indicated a modest growth from 2007 to 2018: its price increased at an average annual rate of +1.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Import prices varied noticeably by the country of destination; the country with the highest import price was Israel ($495 per tonne), while Yemen ($289 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Iran, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform