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.