Analysts predict a global sugar shortage this year
Sugar
Published Feb 5, 2023
Tridge summary
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.
Original content
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 from the previous season's 1.36% growth. Green Pool forecasts a global surplus of 1.77 million tons in the 2022/23 season, compared to 1.44 million tons the previous season. Earlier, the USDA predicted that sugar production in Ukraine in 2022/23 will be 1.1 million metric tons (MMT), which is 23% less than the previous estimate. At the same time, the national association of sugar producers of Ukraine "Ukrtsukor", on behalf of itself and on behalf of sugar ...
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