Latin America and the Caribbean: Sugar Beet Market 2024

Sugar Beet Market Size in Latin America and the Caribbean

In 2022, the Latin American sugar beet market decreased by X% to $X, falling for the fourth year in a row after two years of growth. In general, consumption saw a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Sugar Beet Production in Latin America and the Caribbean

In value terms, sugar beet production totaled $X in 2022 estimated in export price. Overall, production, however, enjoyed significant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

The country with the largest volume of sugar beet production was Chile (X tons), accounting for X% of total volume. Moreover, sugar beet production in Chile exceeded the figures recorded by the second-largest producer, Colombia (X tons), more than tenfold.

In Chile, sugar beet production declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Venezuela (X% per year).

In 2022, the average yield of sugar beet in Latin America and the Caribbean shrank to X tons per ha, almost unchanged from 2021. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. Over the period under review, the sugar beet yield attained the peak level at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of sugar beet production in Latin America and the Caribbean dropped to X ha, shrinking by X% compared with the year before. Overall, the harvested area showed a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

Sugar Beet Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of sugar beet decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, posted a tangible expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, sugar beet exports amounted to $X in 2022. Over the period under review, exports, however, recorded moderate growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Colombia represented the key exporter of sugar beet in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Brazil (X tons) and Costa Rica (X tons), together comprising a X% share of total exports. Chile (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Brazil (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Costa Rica ($X) and Brazil ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Brazil, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

Sugar Beet Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of sugar beet decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, saw a prominent expansion. The growth pace was the most rapid in 2019 with an increase of X%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, sugar beet imports declined dramatically to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

Trinidad and Tobago (X tons) and Jamaica (X tons) dominates imports structure, together mixing up X% of total imports. The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Jamaica (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Jamaica ($X), Trinidad and Tobago ($X) and the Dominican Republic ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Jamaica ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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