Brazil's sugar exports up to October already set a new annual record, according to Secex

By Roberto Samora SÃO PAULO (Reuters) - Brazil's sugar exports in the year to date through October have already set a new annual record, surpassing the 2023 mark, according to data from the Secretariat of Foreign Trade (Secex), in a global market in which India has restricted its shipments and increased imports of the Brazilian commodity. The bans on foreign sales adopted by India, the world's second largest producer behind Brazil, have also brought more demand to mills in the South American country, which accounts for about 70% of global exports of raw sugar, noted the consultancy Argus. In addition, Indonesia increased its purchases and became the largest destination for the Brazilian product, surpassing China, according to data from the Brazilian government through September. Egypt and the United Arab Emirates also increased their purchases from Brazil. The complete data on volumes exported in October will be released this Wednesday by the government secretariat. However, the ...