Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada - 2023

Contents:

1. Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada (CIF) - 2023
2. Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada (FOB) - 2022
3. Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada
4. Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada

Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada (CIF) - 2023

The average import price for refined cane or beet sugar (with added flavoring or coloring matter) stood at $1,354 per ton in December 2023, with a decrease of -26.8% against the previous month. In general, the import price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in October 2023 an increase of 101% month-to-month. As a result, import price reached the peak level of $2,053 per ton. From November 2023 to December 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Paraguay ($5,125 per ton), while the price for Thailand ($1,068 per ton) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by India (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada (FOB) - 2022

The average export price for refined cane or beet sugar (with added flavoring or coloring matter) stood at $594 per ton in 2022, which is down by -3.8% against the previous year. In general, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 an increase of 16%. The export price peaked at $1,523 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,090 per ton), while the average price for exports to Trinidad and Tobago ($448 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 Norway (-2.0%), while the prices for the other major destinations experienced a decline.

Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada

Imports of refined cane or beet sugar (with added flavoring or coloring matter) into Canada soared to 4.4K tons in 2022, rising by 25% on the previous year's figure. Overall, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +9.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) rose remarkably to $5.8M in 2022. Over the period under review, imports, however, saw a abrupt setback.

Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to Canada in 2022:

1. United States (1964.6 tons)
2. China (680.3 tons)
3. India (508.5 tons)
4. Thailand (444.1 tons)
5. Taiwan (Chinese) (256.6 tons)
6. Paraguay (91.5 tons)
7. El Salvador (79.3 tons)
8. Brazil (59.2 tons)

Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in Canada

In 2022, shipments abroad of refined cane or beet sugar (with added flavoring or coloring matter) decreased by -6.1% to 1.9K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. As a result, the exports reached the peak of 2K tons, and then contracted in the following year.

In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) declined to $1.1M in 2022. The total export value increased at an average annual rate of +9.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. As a result, the exports attained the peak of $1.2M, and then declined in the following year.

Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from Canada in 2022:

1. South Korea (1050.0 tons)
2. Bermuda (233.0 tons)
3. Bahamas (169.0 tons)
4. Barbados (127.0 tons)
5. United States (62.8 tons)
6. Cayman Islands (54.0 tons)
7. Saint Maarten (Dutch part) (51.0 tons)
8. United Kingdom (42.0 tons)
9. Trinidad and Tobago (2.0 tons)

Source: IndexBox Market Intelligence Platform