Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia - 2023

Contents:

1. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia (CIF) - 2023
2. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia (FOB) - 2022
3. Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia
4. Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia (CIF) - 2023

In October 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,023 per ton, dropping by -4.4% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.8%. The most prominent rate of growth was recorded in January 2023 an increase of 14% against the previous month. The import price peaked at $1,102 per ton in July 2023; however, from August 2023 to October 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In October 2023, the highest price was recorded for prices from Finland ($1,456 per ton) and Latvia ($1,221 per ton), while the price for Lithuania ($982 per ton) and Poland ($991 per ton) were amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Finland (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia (FOB) - 2022

The average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $733 per ton in 2022, surging by 1.6% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The pace of growth was the most pronounced in 2017 an increase of 62% against the previous year. As a result, the export price reached the peak level of $1,229 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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 Lithuania ($1,899 per ton), while the average price for exports to Malta ($624 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 Lithuania (+5.2%), while the prices for the other major destinations experienced a decline.

Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia

In 2022, approx. 32K tons of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose were imported into Estonia; surging by 6.9% against the year before. The total import volume increased at an average annual rate of +4.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose surged to $20M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +14.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Estonia in 2022:

1. Denmark (15.9K tons)
2. Poland (10.4K tons)
3. Lithuania (4.0K tons)
4. Finland (0.6K tons)

Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Estonia

In 2022, overseas shipments of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -39.7% to 449 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2021 with an increase of 115%. As a result, the exports attained the peak of 745 tons, and then reduced dramatically in the following year.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose shrank markedly to $329K in 2022. In general, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 134%. As a result, the exports attained the peak of $537K, and then fell sharply in the following year.

Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Estonia in 2022:

1. Malta (264.0 tons)
2. Latvia (124.2 tons)
3. Finland (44.0 tons)
4. Lithuania (10.8 tons)

Source: IndexBox Market Intelligence Platform