Sugar/Brazil: USDA office maintains China's import estimate at 4.6 million tons in 2023/24

Published Apr 23, 2024

Tridge summary

The USDA office in Guangzhou projects China's sugar imports to remain at 4.6 million tons for the 2023/24 harvest, with an expected increase to 5 million tons in 2024/25 due to a supply-demand gap, despite a slight decrease in production estimates for 2023/24 to 9.9 million tons from 10 million, attributed to lower sugar content in Guangxi sugarcane. However, production is anticipated to rise to 10.4 million tons in 2024/25, thanks to expanded sugarcane and beet planting. Brazil continues to be the major sugar supplier to China, accounting for about 80% of its imports. Meanwhile, China's sugar consumption is estimated at 15.6 million tons for 2023/24, slightly increasing to 15.7 million tons for 2024/25.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

São Paulo, 04/22/2024 - The United States Department of Agriculture (USDA) office in Guangzhou maintained the estimate of sugar imports by China in the 2023/24 harvest - from October to September - at 4.6 million tons . In the 2024/25 cycle, the country should import 5 million tons, according to USDA estimates, since, despite the projection of higher production, it will be necessary to fill the gap between supply and demand, said the agency. “If world prices fall as predicted, China is expected to increase imports,” he added. Brazil is the main supplier of the sweetener to the Asian country, with around 80% of imports. China's production projection of the commodity was reduced from 10 million tons to 9.9 million tons in the 2023/24 season, due to the low sugar content in sugarcane grown in Guangxi, according to the ...
Source: Broadcast
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