Global sugar output 2022/2023 will up almost 3 mln t — USDA
According to the USDA forecast, in 2022/2023 global sugar production is estimated up 2,8 million tonnes — to 183,2 million tonnes as higher production in Brazil, China, and Russia is expected to more than offset declines in the European Union, India, and Ukraine.
It is repoted by USDA in its November report.
Consumption is anticipated to rise to a new record due to growth in markets such as China, Indonesia, and Russia. Exports are projected higher as the drop in India is more than offset by higher exports from Brazil and Thailand.
Stocks are estimated lower as growth in global consumption exceeds the rise in production. Concerning key exporters, China is anticipated to import less in favor of drawing down stocks for its consumption, reduced production in India is expected to lower stocks, and Thailand is expected to draw down stocks in order to support higher exports driven by strong global demand.