The world's largest consumers of sugar are India, China, Brazil, USA, Russia, Mexico, Pakistan, Indonesia, Germany and Egypt. According to USDA Foreign Agriculture Service, the consumption of sugar in Asian countries has increased at a faster rate, as a direct result of increasing population, increasing per capita income and increased availability.

DOMESTIC CONSUMPTION FOR 2003-2004
(All units in MMT)

Prices
World sugar prices fell steadily from 1994-1995 till 1998-1999 and have been almost stable at those levels. The trend seems to have now reversed and refined sugar prices have increased by 30% in the last 5 quarters - from 9.16 cents per pound in January, 2004 to 12.02 cents in March, 2005 (Source: USDA Foreign Agriculture Service). The declining world stocks (as a percentage of consumption) as seen in table below also have an impact on the price of sugar.

HISTORICAL SUGAR PRICES
(All prices in Cents per lb.)

World Sugar Trade
World trade in raw sugar is typically around 22.0 MMT and white sugar around 16.0 MMT. Following table shows the total exports of sugar for top exporting nations. Brazil is the largest exporter, followed by EU, Thailand, Australia and Cuba. The largest importers are Russia, Indonesia, UK, South Korea, Japan, Malaysia, the Middle East, and North Africa.

MAJOR EXPORTING NATIONS FOR 2003-2004
(All units in '000 metric tons)