Sugar output in the 2023/24 season is forecast to be unfavorable in some countries, with a global supply deficit

Published Sep 27, 2023

Tridge summary

The USDA predicts that US sugar output in the new crop year starting in October 2023 will be lower than expected due to a widespread drought in Louisiana, the leading producing state. However, an increase in beet sugar production will partially offset the decrease. Thailand's sugar crop in the upcoming year is also forecasted to be much lower than previous years due to insufficient rainfall caused by the El Nino weather phenomenon.

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Original content

America The US Department of Agriculture (USDA) said that US sugar output in the new crop year starting in October 2023 will be lower than previously expected because of widespread drought in Louisiana - America's leading producing state. . USDA cut its forecast for Louisiana by 18% in 2023/24 to 1.68 million tons (ST). Louisiana is the leading state in cane sugar production, ahead of Florida. Sugar made from sugar cane typically accounts for about 45% of total US sugar production, with the remainder made from sugar beets. The lower output from Louisiana will be partially offset by an estimated 3% increase in beet sugar production to 5.22 million tons, the USDA said. US sugar imports are expected to reach 3.26 million tonnes in 2023/24, down from 3.46 million tonnes estimated last month. With production changes and reduced import estimates, the stocks-to-use ratio fell to 13.5% from 15.2% in August. Thailand A report from broker Czarnikow said that Thailand's new sugar crop ...

Source: Vinanet