Ukraine: In 2020, the world is forecasting a sugar shortage

Published 2020년 10월 23일

Tridge summary

Global sugar prices have been low for three years, leading to a reduction in sugar beet acreage in most sugar-producing countries. In 2020, the world's sugar deficit is expected to reach 9.3 million tons due to sharp production falls in India, Thailand, and Mexico. Brazil dominates the world sugar market, as farmers have switched to growing sugar cane. The average yield per hectare has increased by 35% over the past five years, leading to record growth in commodity stocks in the region. In Ukraine, sugar production is projected to be 15% less than the previous year due to drought and dust storms, and exports have declined due to a global surplus and increasing competition from Russia and the EU. However, the quality of Ukrainian sugar has increased, allowing it to find new markets.

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

Original content

For three years, world sugar prices have remained low, leading to a reduction in sugar beet acreage in most sugar-producing countries. This was reported by agronews.ua. In 2020, the world's sugar deficit is expected to reach 9.3 million tons. Production volumes fell sharply in India, Thailand, and Mexico. Brazil dominates the world sugar market, as farmers have switched to growing sugar cane to produce sugar instead of ethanol, due to declining demand for biofuels, according to Kateryna Yurko, editor of the New Agriculture magazine. In the 2019/20 season, the increase in beet sugar production in the CIS countries amounted to 1.4 million tons. In addition, the average country sugar yield per hectare has increased by 35% over the past five years. Commodity stocks in the region have grown at a record pace. The domestic sugar market in the CIS has become more dependent on world prices. Therefore, in the 2019/20 season there is an increase in sugar exports and a decrease in imports. ...

Source: AgronewsUA