Tridge summary
The International Sugar Organization (ISO) has forecasted a global sugar production of 179 million tons and consumption of 182 million tons for the 2023-2024 season, indicating a potential shortage of 3 million tons. The expected ending stock of sugar on September 30, 2024, is 98 million tons, marking the smallest ending stock since the 2020-2021 season. This is due to reduced production forecasts for Thailand, India, and Mexico, and increased production in the European Union, Brazil, and China, which cannot offset the higher consumption, especially in India. As a result, sugar prices on the commodities exchange in London have risen. The European Commission anticipates a production of 15.6 million tons of sugar from the EU, with Germany being the largest producer. The sugar beet area in the EU is projected to expand by 5.8 percent for the 2024-2025 season.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Analysts from the International Sugar Organization (ISO) now estimate global sugar production of 179 million tons and consumption of 182 million tons. The shortage of 3 million tons on the sugar balance brings the worldwide calculated sugar stock at the end of the season (September 30, 2024) to a rounded 98 million tons. It is the smallest ending stock of sugar since the 2020-2021 season. Compared to previous forecasts for 2023-2024, ISO has revised downwards sugar production for Thailand by 2.3 million tonnes, India by 1.1 million tonnes and Mexico by 0.6 million tonnes. On the other hand, there are higher productions for the European Union (EU), Brazil and China. But that is not enough to compensate for the lower production in the aforementioned countries and the higher consumption, especially in India. The quotation for white sugar on the commodities exchange in London rose last month from almost 500 euros to 556 euros per tonne, partly due to the new calculation of the sugar ...
Source: Nieuwe Oogst
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