Global sugar production to grow tangibly this year, keeping prices stable

IndexBox has just published a new report: ‘World – Sugar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings. This year, world sugar production is expected to rise by 3% to 193M tonnes. The growth will be encouraged by favorable weather conditions in most of the largest producing countries, as well as the providing exemptions on the neonicotinoid usage against plant diseases and blights in France, Germany and the UK. The drop in sugar production and shipments from Brazil will be offset by large volumes coming from Thailand, which will boost global exports by +2.6% y-o-y. The increased supply in the world market is to keep sugar prices relatively stable over the next two years. According to IndexBox estimates based on USDA data, global sugar production will increase by +3% y-o-y to 193M tonnes in 2021, driven by high demand from China and India. The economy’s gradual recovery after the pandemic and the relative normalization of ...