Brazilian sugar exports reached a record high from January to October 2024, with 32.04 million tons shipped, a 34.3% increase from last year, driven by restricted supply from India. This volume surpassed 2023’s total of 31.28 million tons by 2.4%. According to the Ministry of Development, Industry, Commerce, and Services, sugar was traded at an average of $488.12 per ton, up 22.3% year-on-year, earning $15.64 billion, a 32.8% increase. October saw 3.73 million tons exported, up 29.8% from last year but down 3.9% from September. The main buyers were Indonesia, India, China, Egypt, and Iraq. Raw sugar exports in October rose 42.2% annually, while refined sugar dropped 29.7%. Raw sugar averaged $467.1/t, down 11% from 2023, while refined sugar averaged $530.1/t, down 10.2%.
Source: Nova Cana
BRAZILIAN SUGAR EXPORTS ARE ALREADY A RECORD IN 2024, WITH 32.04 MILLION TONS UNTIL OCTOBER
Published On - 14 de November de 2024