ALL AGRI #Africa Ari Market Updates

Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 2.5%. Over the period under review, consumption reached the peak volume at 115M tons in 2019; however, from 2020 to 2024, consumption remained at a lower figure. The value of the sugar crop market in Africa expanded remarkably to $163.3B in 2024, picking up by 5.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the market value increased by 6.1% against the previous year. Over the period under review, the market hit record highs at $169.7B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.