Sugar exports in the US have exhibited significant fluctuations over the years, starting from a value of 429.35 thousand short tons in 2013 and decreasing steadily through both actual and forecasted data. In 2023, the export volume stood at 110.04 thousand short tons. The year-on-year variation in 2023 showed a decline of 15.13%, continuing a trend marked by fluctuating but predominantly negative growth rates since 2013. Over the past two years, the average annual reduction has been 14.26%. The Compound Annual Growth Rate (CAGR) for the past five years up to 2023 stands at -15.38%, highlighting a consistent decline in export volumes.
Future forecasts present a grim outlook with sugar exports expected to plummet to 17.66 thousand short tons by 2028, representing a forecasted 5-year CAGR of -27.93% and an overall decline of 80.55% from 2023 to 2028.
Future trends to watch for include potential shifts in global trade policies, climate change impacts on sugar crop yields, advancements in alternative sweeteners, and changes in domestic market demand that could influence export volumes. Monitoring these factors will be crucial for stakeholders to navigate the expected downward trajectory.
