Global sugar surplus expected to be 4 million tons in the 2023/24 harvest

In its Agro Monthly report, referring to the month of May/2023, Consultoria Agro do Itaú BBA informs that the 2023/24 crop in the Center-South in the first half of May presented an advance compared to the previous cycle. The drier weather in the first fifteen days of the month favored crushing. Sugar production was also strong in the first half of the month, with 2.5 million tons, representing an increase of 50.4% versus the same period of the previous harvest and with the sugar mix reaching 48.4%. READ MORE > Sugar: slightly bearish? Check hEDGEpoint review The higher volumes of rainfall in 2023 did not affect sugar exports. From January to April, the shipped volume of VHP totaled 5.1 million tons, representing an increase of 1.8% compared to the same period last year. The same happened with white sugar, which in the aforementioned period exported 821 thousand tons versus 768 thousand tons, 6.9% higher. “The largest volumes of sugar are shipped from June to October, however, this ...