CZARNIKOW RAISES GLOBAL SUGAR SURPLUS ESTIMATE TO 4.7 MILLION TONS IN 2023/24

Czarnikow, a trading company, revised its global sugar surplus estimate for 2023/24 to 4.7 million tons, up from 3.5 million previously projected. This adjustment reflects an increase in global production to 182.6 million tons and consumption to 177.9 million tons. For 2024/25, global sugar production is forecasted at 187.3 million tons, driven by expanded sugarcane and beet plantations in Thailand and the EU. However, concerns arise regarding sugarcane performance in Brazil’s Central-South due to dry weather. Despite rising consumption to 182 million tons in 2024/25, surplus may reach 5.4 million tons, highlighting challenges in balancing supply and demand.
Source: Nova Cana