Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore - 2022
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore (CIF) - 2022
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore (FOB) - 2022
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore
- Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore (CIF) - 2022
In 2022, the average import price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $754 per ton, rising by 7.1% against the previous year. In general, the import price, however, saw a deep setback. The most prominent rate of growth was recorded in 2021 an increase of 24% against the previous year. Over the period under review, average import prices hit record highs at $2,543 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($2,861 per ton), while the price for Thailand ($620 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore (FOB) - 2022
In 2022, the average export price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $1,419 per ton, growing by 15% against the previous year. In general, the export price, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2019 an increase of 46% against the previous year. Over the period under review, the average export prices attained the peak figure at $2,003 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($2,259 per ton), while the average price for exports to Brunei Darussalam ($948 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+26.9%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore
In 2022, approx. 4.8K tons of refined cane or beet sugar (with added flavoring or coloring matter) were imported into Singapore; increasing by 144% compared with 2021. Overall, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 230%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in years to come.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) skyrocketed to $3.6M in 2022. Over the period under review, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 278 | 998 | 780 | 2,303 | 102.3% |
| Vietnam | 27.3 | 10.5 | 184 | 466 | 157.5% |
| United States | 11.7 | 16.0 | 47.2 | 274 | 186.1% |
| China | 162 | 130 | 106 | 190 | 5.5% |
| Taiwan (Chinese) | 44.1 | 46.1 | 91.4 | 94.6 | 29.0% |
| Others | 74.8 | 134 | 178 | 295 | 58.0% |
| Total | 599 | 1,335 | 1,387 | 3,622 | 82.2% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Singapore in 2022:
- Thailand (3712.2 tons)
- Vietnam (640.0 tons)
- United States (191.2 tons)
- China (105.0 tons)
- Taiwan (Chinese) (36.9 tons)
Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore
In 2022, shipments abroad of refined cane or beet sugar (with added flavoring or coloring matter) increased by 16% to 157 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a deep downturn.
In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) surged to $223K in 2022. Over the period under review, exports, however, recorded a deep slump.
| Export of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Maldives | 56.4 | 22.3 | 21.6 | 93.0 | 18.1% |
| Brunei Darussalam | 52.7 | 68.9 | 69.8 | 70.6 | 10.2% |
| Malaysia | 7.4 | 4.1 | 20.8 | 24.1 | 48.2% |
| United States | N/A | 8.7 | N/A | 17.9 | 43.4% |
| Cambodia | 78.1 | 127 | 43.3 | 15.4 | -41.8% |
| United Arab Emirates | 57.5 | N/A | N/A | N/A | 0% |
| Others | 21.7 | 17.7 | 10.7 | 2.0 | -54.8% |
| Total | 274 | 249 | 166 | 223 | -6.6% |
Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from Singapore in 2022:
- Brunei Darussalam (74.5 tons)
- Maldives (41.2 tons)
- Malaysia (20.9 tons)
- United States (10.8 tons)
- Cambodia (8.8 tons)
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In value terms, cane and beet sugar and sucrose imports totaled $X in 2016. Overall, it indicated a perceptible growth from 2007 to 2016: the total imports value increased at an average annual rate ...
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This year, world sugar production is expected to rise by 3% to 193M tons. The growth will be encouraged by favorable weather conditions in most of the largest producing countries, as well as the providing exemptions on the neonicotinoid usage against plant diseases and blights in France, Germany and the UK. The drop in sugar production and shipments from Brazil will be offset by large volumes coming from Thailand, which will boost global exports by +2.6% y-o-y. The increased supply in the world market is to keep sugar prices relatively stable over the next two years.
