Green Pool forecasts global sugar deficit in the crop year 2023/24

Published 2023년 2월 6일

Tridge summary

A recent report by Green Pool, a sugar and biofuels analyst, predicts a slight decrease in global sugar production, primarily due to a drop in output in India, Pakistan, and the European Union. India, as the world's second-largest sugar exporter, is expected to see the largest decline. This reduction could potentially increase global sugar prices and encourage competitors like Brazil and Thailand to increase their exports. Despite the decrease in production, global consumption is projected to grow at a slower rate than the previous season. The report also forecasts a global surplus in the 2022/23 crop year, although this surplus is expected to be slightly larger than the previous year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A report by Australia-based sugar and biofuels analyst said they expect a decline in global production, particularly in India, Pakistan and the European Union. Meanwhile, consumption is forecast to increase, albeit at a slower rate than last season. Green Pool predicts that global production will decline slightly to 192.8 million tonnes, from 193.2 million tonnes in the previous season, ending an upward trend following a disappointing 2019/20 crop. India is the second largest sugar exporter in the world. The country is expected to see the biggest drop of 2.3 million tons to 34.5 million tons. However, this decrease was partially offset by an increase in output in South-Central Brazil from 33.65 million tons to 35.8 million tons. To date, Indian mills have produced 21.6 million tonnes of sugar since the start of the current season (which started on October 1), up 6% year-on-year, according to the Association of Sugar Industries. this sugar mill (ISMA). In the 2022/23 crop year, ...

Source: Vinanet