CZARNIKOW REDUCES GLOBAL SUGAR SURPLUS ESTIMATE TO 5.9 MILLION TONS IN 2024/25

British trading company Czarnikow has revised its global sugar surplus estimate for the 2024/25 season to 5.9 million tonnes, down 2.9 million tonnes from June’s forecast. The reduction is due to expected lower production in Brazil’s Center-South and Russia, affected by dry weather. Global sugar production is now expected to reach 186 million tonnes, 3 million tonnes below the previous estimate, though still the second highest on record. Global consumption is projected at 180 million tonnes, down 800,000 tonnes from earlier forecasts. Czarnikow notes potential increases in production in the EU, Thailand, and India.
Source: Nova Cana