Analysts predict a global sugar shortage this year

Published 2023년 2월 4일

Tridge summary

Green Pool, an Australian analytical agency, forecasts a global sugar deficit of 1.01 million tonnes for the 2023/24 season, marking the end of three years of surplus. This is due to a projected decline in production, particularly in India, Pakistan, and the European Union, offset by an increase in central southern Brazil. While global consumption is expected to rise slightly, production is anticipated to drop to 192.8 million tonnes from 193.2 million tonnes. The USDA predicts a 23% decrease in sugar production in Ukraine for the 2022/23 season. Ukrainian sugar producers are seeking to cease cooperation with Russia through the International Sugar Organization due to the ongoing conflict and energy price issues, resulting in a possible 10-12% increase in sugar prices for the next season.

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Original content

The global sugar deficit in FY 2023/24 is estimated at 1.01 million tonnes. This will mark the end of a three-year period of surplus in the market. This forecast was presented by the Australian analytical agency Green Pool for the 2023/24 season, writes Reuters. Global production is projected to fall, particularly in India, Pakistan and the European Union. At the same time, consumption is expected to grow, albeit at a slower pace than in the previous season. Follow the news in a convenient format: Follow us on Twitter Green Pool forecasts, which are based on national crop years, predict global production will decline to 192.8 million tonnes from 193.2 million tonnes the previous season. India was expected to record the biggest drop in production, down 2.3mt to 34.5mt. However, this should be partially offset by production in central southern Brazil, which will increase to 35.8mt from 33.65mt . Global consumption is forecast to rise 1.24% to 192.8 million tonnes, a slight slowdown ...

Source: Landlord