Green Pool forecasts global sugar deficit in the crop year 2023/24
Sugar
Published Feb 7, 2023
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, ...
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