There will be a shortage of 500,000 tons of sugar in the world in 2024 and the Middle East will notice it

Published Feb 2, 2024

Tridge summary

The International Sugar Organization (OIA) forecasts a global sugar deficit of 500,000 tons by 2024, primarily impacting the Middle East and southern Mediterranean countries due to the Red Sea crisis. This shortage is attributed to reduced harvests since 2023, despite an increase in sugar consumption as a nutritional ingredient. The article also dismisses the notion that ethanol production is reducing the food supply of carbohydrate grains like sugar, explaining that both sugar and energy can be derived from the same source, such as cane juice. Major sugar producers include Brazil and India for cane sugar, and Russia, France, the US, Germany, and Turkey for beet sugar.

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Original content

The executive director of the International Sugar Organization (OIA), José Orive, highlights in an interview with Efeagro the limitation in the global availability of sugar. The world sugar deficit will reach 500,000 tons in 2024 and, due to the Red Sea crisis, large consumers of sweets such as the countries of the Middle East and the southern Mediterranean will notice its shortage more, according to the governmental International Sugar Organization (IOA). The executive director of the OIA, José Orive, has confirmed, in an interview with Efeagro, the limited availability of sugar for global consumption, a trend that comes from 2023, after a campaign with reduced harvests. The OIA is an intergovernmental organization made up of 86 countries, headquartered in London, and created under the auspices of the UN; Orive, Guatemalan, has been its executive director since 2014. He pointed out, in a telephone conversation, that compared to the price records registered in 2023, a moderation ...

Source: PEefeagro