Brazil is expected to set a record in sugar production and exports at the end of the 2023/24 season, according to the JOB Economy consultancy. The country is expected to account for approximately 50% of the global sugar trade. JOB projected that the country’s cane crush will surpass initial expectations and reach 660.6 million tons, up from initial estimate of 653.4 million tons. Sugar output is expected to hit a new high of 42.7 million tons, up from 37 million tons in the previous cycle. JOB also expects that sugar exports will reach a record of 32.2 million tons, up from 29.8 million tons and 27.1 million tons in the previous season.
Sources: Reuters/Uniao Nacional da Bioenergia (*Translated by Ia Niani)