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Global sugar production, compared to last year, is estimated up 2.8 million tons to 186.6 million
26.11.2024 00:06 "Agro Perspectiva" (Kyiv) —
According to the report of the USDA Sugar: World Markets and Trade (November 2024), global sugar production, compared to last year, is estimated up 2.8 million tons to 186.6 million with higher production in China, India, and Thailand more than offsetting lower production in Brazil. Consumption is anticipated to rise to a new record with growth in markets such as India. Exports are up due to higher shipments from Thailand. Stocks are estimated lower as reduced stocks in Thailand are projected to more than offset a rise in stocks in India. U.S. production is estimated down slightly to 8.4 million tons on lower sugarbeet and sugarcane yields. Imports are estimated down based on projected quota programs set at minimum levels consistent with World Trade Organization and free-trade agreement obligations, and on projected imports from Mexico, re-exports, and high-tier tariff imports. Consumption is practically unchanged while stocks are reduced with the lower imports. Brazil production is estimated 2.5 million tons lower but still the second highest on record at 43.0 million tons as less sugarcane is estimated to be available for crushing due to unfavorably dry weather. The sugar/ethanol production mix is expected to be unchanged from the previous season at 49 percent for sugar and 51 percent for ethanol. Consumption is down with the lower production and exports are also down but by less than the drop in production. India production is estimated up 1.5 million tons to 35.5 million on favorable weather and higher yields. Consumption is anticipated to climb with rising income. Imports are estimated down with the higher production and exports are expected to be down slightly on the likelihood that the government maintains export caps to meet domestic food consumption.
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