Brazil hits all-time record for sugar exports through October, driven by global demand

Brazilian sugar exports reached a new annual record through October, surpassing the total exported in 2023, according to data from the Secretariat of Foreign Trade (Secex). The high demand is largely due to export restrictions imposed by India, which increased imports from Brazil, the largest global supplier of raw sugar, accounting for around 70% of global exports of the commodity. Consulting firm Argus pointed out that, in addition to Indian demand, other countries, such as Indonesia, Egypt and the United Arab Emirates, significantly increased their purchases of Brazilian sugar. Indonesia even surpassed China as the main destination for Brazilian sugar through September, according to government data. Although the full balance for October will only be officially released this Wednesday, preliminary data from Secex, up to the fourth week of the month, already register a total of 31.7 million tons exported in 2024, surpassing the 31.3 million tons shipped in the entire year of ...