Tridge summary
India's export ban following a poor harvest has shifted global sugar demand to Brazil, becoming the largest exporter surpassing China, with Egypt and the United Arab Emirates also increasing imports. Preliminary data shows that Brazil exported 31.7 million tonnes of sugar from October 2023 to October 2024, a rise from the previous year's 31.3 million tonnes. This surge in exports is supported by ample stocks from the previous record harvest and a smaller cane crop this year. The increase in exports has benefited Brazil, with a 72% rise in exports to India from January to September 2024.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
India’s export ban has shifted significant global sugar demand to Brazilian mills, surpassing China, consultancy Argus reported. Meanwhile, Egypt and the United Arab Emirates have also increased imports. Preliminary data from Secex showed that Brazil exported a total of 31.7 million tonnes of sugar in the year to October 2024. This surpassed the total export volume of 31.3 million tonnes recorded in 2023. Brazil’s sugar exports have surged, supported by ample stocks from the previous record harvest. The surge in exports coincided with a smaller cane crop this year compared to the previous record-breaking crop, according to Brazil’s National Supply Company (Conab). India, the world’s largest sugar consumer and second-largest producer, imposed the restrictions after a poor harvest due to weather. This has benefited Brazil in sugar ...
Source: Vinanet
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