World: Increased sugar production, consumption stability, and high prices by 2023/24

Global white sugar production forecast at 189 million tonnes in 2023/24 would represent an increase of 6% compared to the current campaign. Consumption will break a record above 180 million tons, reaching stocks of 102 million tons. The increase in production will focus on Brazil and India, as well as other producing countries. In Brazil it would reach an almost record volume, due to the fact that good sugar prices have encouraged farmers to opt for the cultivation of cane instead of cereals and in this way, it would increase exports and continue leading world trade. Production for 2023/24 in the European Union of 15.6 million tons, would increase more than 6.8% compared to the previous year due to the 3.7% increase in the beet area, which would reach 1.4 million ha. . The reduction in cultivation in France, the leading community producer, would be compensated mainly by Poland, Spain, Romania, Slovakia and Hungary. The prohibited use of neonicotinoids by French farmers, greater ...