Sugar Import 2023: Market Volatility

Global Sugar Import Market Landscape

In global trade, Sugar is classified under HS Code 1701, covering raw and refined sugar products. As a highly traded soft commodity, it serves as a critical input for food and beverage industries, with demand driven by population growth and consumption patterns in emerging markets.

Strategic Insights

• Market Momentum: Global sugar imports in 2023 were volatile, peaking at $3.87B in November but closing at $2.00B in December. The year saw high-volume trade despite sharp monthly fluctuations.
• Geographic Power: Supply is heavily concentrated, with Brazil dominating (64.6% by weight). Demand is fragmented, led by Indonesia (8.7% by value) and the U.S. (20.0% by quantity).
• Supply Chain Structure: The market is supplier-consolidated, with top exporters (Brazil, India, Thailand) controlling 77% of supply. Buyers are split between bulk purchasers (93% quantity share) and fragmented SMEs.

Global Sugar Import Trend in 2023 Whole Year

Global sugar imports in 2023 demonstrated significant volatility, with trade flows oscillating sharply month-to-month.

• Aggregate Performance: The market showed a high-volume year, with total import value for the period reaching substantial levels despite considerable monthly swings.
• Period Dynamics: The year began at $2.25B in January and closed at $2.00B in December, punctuated by a notable peak of $3.87B in November, highlighting a dynamic and unpredictable trading pattern.

Table: Sugar Import Trend in 2023 Whole Year

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Sugar Global Market Structure: Supply vs. Demand

Top Origin Countries & Production Hubs

• Dominant Supplier: Brazil overwhelmingly controls the market, supplying 64.60% of global sugar by weight and 54.97% by value. Its influence is decisive.
• Market Structure: Supply is highly consolidated. The top 3 exporters (Brazil, India, Thailand) account for 77.16% of global weight. Brazil alone holds a near-monopolistic position.
• Key Challengers: India (Rank 2, 5.73% weight, 18.35% value) and Thailand (Rank 3, 6.83% weight, 5.64% value) are the main suppliers after Brazil, but their combined share is dwarfed by Brazil's dominance. Mexico is notable for its high quantity share (24.92%).

Top Destination Countries & Consumption Markets

• Key Buyers: Indonesia leads imports by value ($3.05B, 8.69%). The United States is the largest buyer by quantity (20.04%), ranking second by value ($2.21B, 6.31%).
• Nature of Demand: Demand is driven by end-consumer consumption. Top importers (Indonesia, US, India, Bangladesh, Nigeria, China, Saudi Arabia, UAE) are major population centers or developing economies, indicating direct consumption or domestic food/beverage manufacturing. No major re-export hubs appear in the top tier.
• Emerging Markets: Bangladesh (Rank 4 by value, $1.84B), Nigeria (Rank 5 by value, $1.48B), and China Mainland (Rank 9 by value, $906M) represent significant emerging demand centers.

Supply-Demand Dynamics

• Balance Assessment: Extremely concentrated supply (Brazil dominant) meets relatively fragmented global demand across numerous populous nations.
• Geographic Trend: Sugar flows predominantly from Southern Hemisphere/developing producers (Brazil, India, Thailand, Mexico, Colombia) to consumption markets in Asia (Indonesia, Bangladesh, China), North America (US), the Middle East (Saudi Arabia, UAE), and Africa (Nigeria).
• Key Takeaway: Pricing power rests firmly with major exporters, especially Brazil, due to their overwhelming market share and production scale. Importing nations face limited alternative supply sources.

Table: Global Sugar Import —— Top Destination Countries

Check Sugar Import Detailed Country Profile

Table: Global Sugar Import —— Top origin Countries

Check Sugar Import Detailed Country Profile

Global Sugar Import Analysis: Key Suppliers & Buyers

Suppliers Concentration & Strategy

• Highly Consolidated: Dominators (77% frequency, 68% value share) control the market.
• Operational Split: Bulk Movers drive 22% value with only 4% frequency, signaling major infrequent shipments.
• Buyer Risk: Heavy reliance on Dominators limits negotiation power; Bulk Movers offer spot-trade alternatives.

Oversea Buyers Procurement Patterns

• Stockpiling Focus: Dominators (93% quantity share) prioritize massive, regular shipments.
• Niche Fragmentation: Low-Value clusters (33% frequency) represent scattered SMEs with minimal volume impact.
• Market Tier: Dominant buyers (73% value share) dictate terms; SMEs are marginal players.

Market Entry & Negotiation Strategy

• New Suppliers: Target Bulk Movers for spot deals or Dominators for stable contracts.
• New Buyers: Avoid Dominator suppliers; source from Bulk Movers for large one-off orders.
• SME Buyers: Leverage Retail/JIT suppliers (Low-Value High-Frequency) for flexible, small shipments.

Table: Global Sugar Import —— Top Buyers

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Table: Global Sugar Import —— Top Suppliers

Access Sugar Trade Company Profile

Frequently Asked Questions

What is the HS Code for Sugar?

The HS Code for Sugar is 1701, covering cane sugar, beet sugar, and chemically pure sucrose in solid form.

Which country is the largest exporter of Sugar in 2023 Whole Year?

Brazil dominated global sugar exports in 2023, shipping over $19.32B worth of sugar, making it the undisputed supply leader.

Who are the top importers of Sugar in 2023 Whole Year?

The top importers were Indonesia ($3.05B), the United States ($2.21B), and India ($1.89B), reflecting major consumption markets and processing hubs.

Who are the major suppliers and companies trading Sugar in 2023 Whole Year?

Key suppliers include SHREE RENUKA SUGARS LIMITED and SHRI DUTT INDIA PRIVATE LIMITED, while top buyers feature CSC SUGAR, LLC and SUCDEN PERU S.A.

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

Discrepancies arise from Trade Asymmetries: export data reflects intended destinations (FOB value), while imports record actual arrivals (CIF value). Trans-shipments via intermediary hubs also distort reported flows.

How to find reliable Sugar suppliers and exporters in 2023 Whole Year?

Access verified shipment records and supplier lists for HS Code 1701 via the yTrade database, covering key regions like Brazil—the world’s top exporter.