BRAZIL REAPS BENEFITS FROM INDIA’S SUGAR EXPORT RESTRICTIONS

Brazil’s sugar exports set a new annual record by October, exceeding 2023 figures, driven by high global demand amid India’s export restrictions. As the second-largest sugar producer, India’s limits have redirected significant demand to Brazilian mills. Indonesia has overtaken China as the main destination, with Egypt and the UAE also boosting imports. Preliminary October data from Secex shows exports at 31.7 million tonnes, surpassing 2023’s total of 31.3 million tonnes. By the fourth week of October, 3.29 million tonnes had been shipped, with additional volumes expected. From January to September, exports totaled 28.4 million tonnes, supported by Brazil’s previous record harvest. Argus noted that India’s weather-induced crop losses prompted these restrictions, with Brazil stepping in to supply markets that once relied on Indian sugar. Shipments to India rose 72% year-over-year.
Source: Chinimandi / Datamar News