News

Australia’s sugar output likely to rise to 4.2 mln tons in 2024/25, USDA says

Sugar
Market & Price Trends
Published Apr 19, 2024

Tridge summary

According to the U.S. Department of Agriculture (USDA), Australia's sugar production is expected to see a slight increase from 4.1 million metric tons in the 2023/24 marketing year to 4.2 million metric tons in 2024/25. This growth is attributed to an expansion in the sugar cane harvest area and an improvement in yield. As a result, Australia's raw sugar exports are projected to rise from 3.35 million tons to 3.45 million tons. Despite its relatively small production scale, Australia plays a significant role in the global sugar market, mainly exporting to Japan, Indonesia, and South Korea, driven by its low domestic demand. The report also highlights a decrease in raw sugar prices from a 12-year high last November, though prices remain elevated with an expected global supply deficit in the 2024/25 season.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australia’s sugar production should rise to 4.2 million metric tons in the 2024/25 marketing year from an estimated 4.1 million tons in 2023/24, the U.S. Department of Agriculture (USDA) said. “The increase in production is partly driven by an anticipated small increase in sugar cane harvest area for marketing year 2024/25, along with a modest increase in yield,” the USDA said in a report dated April 16. Raw sugar exports should rise to 3.45 million tons from 3.35 million tons in 2023/24, according to the report. Australia is a relatively small grower, although it is a significant exporter due to limited local demand. Most of its raw sugar is sent to Japan, Indonesia and South Korea. Australia exports almost no refined sugar. ...
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