Top 5 Sugar Importing Countries During 2020-21

Sugar is certainly one of the most significant commodities in the world because of its prevalent use in a wide range of cuisines. Here, you will get to know about the top 5 Sugar Importing Countries during 2020-21.

The worldwide industrial sugar market is mainly determined by growing sugar prices, developments in the industrial beet sugar industry, and consumption patterns of ready-to-eat products and beverages.

Even though the sugar market in established economies such as North America and Western Europe remains saturated, it is exhibiting potential development in emerging markets.

Owing to increased disposable incomes, modernization, and changing dietary habits, sugar-based products’ demand is increasing in developing nations such as India, China, and the Middle East.

Rising sugar demand has spiked the global sugar market significantly, especially in Asia and in the Middle East.

The global sugar market estimated a volume of 193.2 Million Tons during 2020.

Let’s dive deeper to get the list of the largest sugar importing countries worldwide for the aforesaid period.

Source- Statista.com

Here Is The List Of The Top 5 Sugar Importing Countries Worldwide During 2020-21

Volume in Million Metric Tons

Note- Data sourced from credible sources and figures are approximations only.

Indonesia:

• Indonesia is the world’s largest island country and the fourth-most populous country.
• It has emerged as the largest sugar importing nation with 5.2 MMT during 2020-21.
• Sugar is among Indonesia’s “Sembako” (Sembilan Bahan Pokok – or nine staple food items), along with rice, corn, soybean, cooking oil, meat, shallot, and eggs, etc.
• Thailand continues to be Indonesia’s primary supplier of raw and refined sugar, with a market share of more than 70% on average.

China:

• After Indonesia, it’s again an Asian country with the largest sugar import volume. Being the world’s largest populated country, China is the second-largest sugar importing nation with 4.9 MMT during 2020-21.
• Despite being one of the world’s leading sugar producers, China is a major importer of sugar as well. Its sugar demand has risen rapidly in recent years.
• China’s domestic sugar self-efficiency rate is constant at approximately 70% to 80%, and the majority of imported sugar in China comes from Southeast Asia, South America, and India.

United States:     

• With an import volume of 4.9 MMT United States jointly stands at second with China in the list of largest sugar importers during 2020-21.
• The United States does not produce enough sugar locally thus, American food and beverage industries rely on imports to fulfill consumer demand each year.
• The United States imports sugar under a system of import quotas, often known as tariff-rate quotas (TRQs).
• The majority of imports are raw cane sugar from developing nations in Central America, South America, Asia, Africa, and the Caribbean.

Bangladesh:

• Bangladesh imported 2.45 MMT sugar during 2020-21 and gained the 4th position in the list of largest sugar importing countries.
• In 2019, raw sugar imports totaled over 21 lakh tons, significantly above the country’s requirement of 18 lakh tons.

Algeria:

• Algeria is the fourth wealthiest country in Africa.
• Algeria emerged as the 5th largest sugar importing country in the world with a volume of 2.4 MMT during 2020-21.
• It imports most of its sugar from Brazil.
• Algeria’s sugar market is predicted to be worth US$1.910 billion, and it is expected to expand more in the coming years.

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