Global sugar surplus in the 22/23 harvest is raised by Datagro to 4.76 million tons

The global sugar surplus forecast for the 2022/23 harvest (October-September) was again raised by Datagro consultancy to 4.76 million tonnes, compared to the 2.02 million tonnes previously forecast, in raw numbers, with expected support from the new crop from the Center-South of Brazil. In the previous cycle, the surplus volume is indicated at 2.02 million t. The global surplus should occur even with the trend of increasing world consumption, which should be around 1% in 2022/23, due to the war in Ukraine and the impacts of the Covid-zero policy adopted by China, on 1.5 % of growth recorded in 2021/22. The consultancy also points out that the two surpluses in 2021/22 and 2022/23, added together, should still not offset the deficit of 9.43 million tons recorded during the 2019/20 and 2020/21 harvests. "[This] means that inventories are expected to show a modest recovery, from 42.3% of annual consumption in 2021/22 to 44.6% in 2022/23, remaining well below the 47% mark between ...