Brazil’s sugar exports set a new record, surpassing 2023 levels, driven by increased global demand after India restricted its sugar exports due to weather issues. Data from the Foreign Trade Secretariat (Secex) shows 31.7 million tons exported by October, already exceeding 2023’s total of 31.3 million tons. Brazil, the top sugar producer, benefited from a record harvest in 2024, with strong shipments to key markets like Indonesia, Egypt, and the UAE. Indonesia surpassed China as Brazil’s largest buyer. Exports to India rose by 72%, totaling 2.2 million tons from January to September. Despite a smaller cane harvest this year, robust stocks enabled increased exports. Complete October data is expected on November 6.
Source: Nova Cana
BRAZIL’S SUGAR EXPORTS UP TO OCTOBER ALREADY SET A NEW ANNUAL RECORD, ACCORDING TO SECEX
Published On - 7 de November de 2024