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

Contents:

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

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

The average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $1,040 per ton in October 2023, remaining constant against the previous month. Over the period from October 2022 to October 2023, it increased at an average monthly rate of +1.7%. The pace of growth appeared the most rapid in November 2022 an increase of 7.5% against the previous month. Over the period under review, the average export prices attained the peak figure at $1,052 per ton in August 2023; however, from September 2023 to October 2023, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In October 2023, the country with the highest price was the Netherlands ($1,096 per ton), while the average price for exports to Spain ($1,028 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

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

In October 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,086 per ton, increasing by 5.6% against the previous month. Over the last twelve months, it increased at an average monthly rate of +3.1%. The growth pace was the most rapid in January 2023 when the average import price increased by 14% against the previous month. The import price peaked at $1,093 per ton in June 2023; afterwards, it flattened through to October 2023.

Average prices varied somewhat amongst the major supplying countries. In October 2023, the highest price was recorded for prices from Spain ($1,128 per ton) and Guatemala ($1,057 per ton), while the price for the Netherlands ($792 per ton) and Brazil ($961 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 Mauritius (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

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

In 2022, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose from Portugal stood at 165K tons, flattening at the year before. Over the period under review, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 7.4%.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose skyrocketed to $128M in 2022. Overall, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +14.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +48.3% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

1. Spain (151.3K tons)
2. France (4.2K tons)

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

In 2022, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose into Portugal shrank notably to 69K tons, reducing by -26.4% against 2021. In general, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 1.8%.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose contracted to $48M in 2022. Overall, imports saw a mild curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 9.8%. As a result, imports reached the peak of $52M, and then contracted in the following year.

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

1. Spain (46.5K tons)
2. Brazil (9.3K tons)
3. Cuba (5.4K tons)
4. Netherlands (4.2K tons)
5. Mauritius (2.4K tons)
6. Germany (0.1K tons)

Source: IndexBox Market Intelligence Platform