Monthly sugar price index worldwide 2000-2024
The FAO Sugar Price Index was measured at 117.1 points for May 2024. 2023 saw the highest prices since 2011. The combined impact of the coronavirus pandemic, the war in Ukraine, and high inflation rates likely contributed to increasing prices in past years.
Global sugar price
In 2024, the global sugar price is forecast to decrease by more than ten percent, as compared to 2023. In general, the total sugar consumption worldwide has gradually increased during the last 12 years. In 2010/11, the global consumption of sugar amounted to about 156 million metric tons. By 2022/2023, it had increased to about 176 million metric tons. However, the market value of the global sugar industry has fluctuated over the years. In 2012, the global sugar manufacturing industry was valued at over 113 billion U.S. dollars, compared to just under 78 billion U.S. dollars in 2022.
Global sugar exports
Total global sugar exports amount to more than 66 million metric tons per year. The leading sugar-exporting country worldwide is Brazil. The South American country is the world’s largest sugar producer and accounts for about half of the entire global sugar exports. Thailand and India are the countries with the second and third most sugar exports worldwide. Those two countries export about 11 and six million metric tons of sugar per year, respectively. The main importer of sugar worldwide is Indonesia. The Southeast Asian country imports approximately 5.8 million metric tons of sugar. The United States ranks in third place, with sugar imports of about 3.1 million metric tons of sugar annually.
