Sugar Export 2024: Market Shift

Global Sugar Export Market Landscape

In global trade, Sugar is tracked under HS Code 1701, covering raw and refined sugar products. As a highly traded soft commodity, it serves as a critical input for food processing and direct consumption, with price sensitivity to production cycles and geopolitical shifts.

Strategic Insights

• Market Momentum: Global sugar exports opened strong at $2.22B in January 2024 but closed at $1.87B in December, reflecting softening demand amid projected surplus growth.
• Geographic Power: Supply is Brazil-dominated (43.48% value share), with flows targeting African and Asian consumers (South Sudan, Congo, Uzbekistan) and North American markets (USA, Mexico).
• Supply Chain Structure: Highly consolidated—top exporters (Brazil, India, Mexico) control 46.23% of volume, while buyers face limited leverage due to supplier concentration.

Global Sugar Export Trend in 2024 Whole Year

Global sugar exports in 2024 navigated a shifting market landscape, influenced by projections of record production and surplus growth [Tridge].

• Aggregate Performance: The sector experienced notable volatility, with total observed export value reflecting a downward trend across the year.
• Period Dynamics: Trade opened strongly at $2.22B in January but closed the year at $1.87B in December, indicating softening momentum.

Table: Sugar Export Trend in 2024 Whole Year

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Sugar Global Market Structure: Supply vs. Demand

Top Origin Countries & Production Hubs

• Dominant Supplier: Brazil leads exports with 43.48% weight share and 19.34% quantity share, solidifying its role as the global sugar powerhouse.
• Market Structure: Supply is consolidated. Top 3 exporters (Brazil, India, Mexico) command 46.23% of total export quantity volume.
• Key Challengers: India (11.02% quantity) and Mexico (16.52% quantity) are significant secondary suppliers. Colombia (7.67% quantity) is a notable regional player.

Top Destination Countries & Consumption Markets

• Key Buyers: South Sudan (40.47% value share) and Congo Kinshasa (14.86% value) lead imports, followed by the USA (4.00% value) and Mexico (3.95% value).
• Nature of Demand: Primarily end-consumer driven. High-value imports by developing nations (South Sudan, Congo, Bangladesh) indicate direct consumption markets. The USA and Mexico show dual roles (consumption and processing).
• Emerging Markets: Uzbekistan (7.33% quantity) and Sri Lanka (5.27% quantity) represent rising Asian demand centers.

Supply-Demand Dynamics

• Balance Assessment: Highly concentrated supply (Brazil-dominated) meets fragmented, diversified global demand.
• Geographic Trend: Flows move from Southern Hemisphere producers (Brazil, India, Thailand) to Global South consumers (Africa, South Asia) and North American markets (USA/Mexico).
• Key Takeaway: Exporters hold pricing power due to Brazil's supply dominance and limited top-tier challengers. Importing nations exhibit low consolidation, reducing buyer leverage.

Table: Global Sugar Export —— Top Destination Countries

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Table: Global Sugar Export —— Top origin Countries

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Global Sugar Export Analysis: Key Suppliers & Buyers

Suppliers Concentration & Strategy

• Power Center: Highly consolidated. Dominators (55.99% value share) and Bulk Movers (42.50% value share) together control 98.49% of total export value. A tiny fraction of firms dominate.
• Operational Style: High-frequency shipping dominates. Dominators (61.35% frequency share) and Low-Value High-Frequency players (18.53% frequency share) account for nearly 80% of all shipments. Frequent, regular exports are the norm.
• Risk/Opportunity: Buyers face high supplier concentration risk. Securing supply requires engaging dominant players, but negotiating leverage is low. Smaller, frequent shippers offer flexibility but limited volume.

Oversea Buyers Procurement Patterns

• Procurement Behavior: Dominated by frequent restocking. High-Frequency clusters (Dominators + Low-Value High-Frequency) drive 75.15% of all import shipments. Bulk purchasing (High Value Low Frequency) is significant (20.15% value) but less common.
• Market Tier: Highly consolidated buyer side. Dominators alone command 69.81% of import value. A few large players control most procurement.

Market Entry & Negotiation Strategy

• New suppliers must target Dominator buyers for volume but face intense competition. Building relationships with Bulk Movers offers large, albeit sporadic, opportunities.
• New buyers should prioritize securing long-term contracts with Dominator suppliers due to market concentration. Expect limited negotiation power on price. Explore smaller High-Frequency suppliers for niche or flexible needs.
• Spot market opportunities exist primarily with Bulk Mover exporters, but volumes are unpredictable. Avoid over-reliance on Niche/Occasional players.

Table: Global Sugar Export —— Top Buyers

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Table: Global Sugar Export —— Top Suppliers

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Frequently Asked Questions

What is the HS Code for Sugar?

HS Code 1701 covers raw cane or beet sugar, including refined, white, and specialty sugars traded globally.

Which country is the largest exporter of Sugar in 2024 Whole Year?

Uganda dominated global exports with $28.21B in value, making it the top supplier for 2024.

Who are the top importers of Sugar in 2024 Whole Year?

South Sudan ($20.78B) and Congo (Kinshasa) ($7.63B) were the leading importers, driven by high regional consumption.

Who are the major suppliers and companies trading Sugar in 2024 Whole Year?

Top suppliers include Kinyara Sugar Limited ($10.85B), while major buyers are CSC Sugar, LLC ($206.45M) and Sucden Trading Mexico S de RL de CV ($185.58M).

Why do Sugar import rankings sometimes differ from export destination lists?

Trade asymmetries occur due to FOB (export-reported) vs. CIF (import-reported) valuation gaps, and trans-shipments via intermediary hubs.

How to find reliable Sugar suppliers and exporters in 2024 Whole Year?

Access verified HS 1701 shipment data and suppliers like those in Uganda via yTrade, which provides bill of lading details and real-time partner lists.