World news

Brazil production is forecast up 4.0 million tonnes to a near-record 42.0 million as favorable weather and increased area are expected to result in additional sugarcane available for crushing. It is reported by USDA in its May report. Favorable sugar prices encouraged farmers to use their land for growing sugarcane instead of grains. The sugar/ethanol production mix is expected to f...

Global production is forecast up 10.6 million tons to 187.9 million with higher production in Brazil and India expected to more than offset a decline in Russia. It is reported by USDA in its May report. Consumption is anticipated to rise to a new record due to growth in markets such as India and Pakistan. Exports are forecast higher as Brazil, India, and T...

Tereos posted record annual sales and earnings supported by high prices but the French sugar and ethanol group expressed caution regarding the sugar beet crop and strength of demand in 2023/24. It is reported by Reuters. Tight global supplies sent global sugar futures SBc1 to 11-1/2 year highs in April while European prices were reaching record levels. The company attributed the result...

Indian mills have shipped out the entire 6.1 million tonnes of sugar allowed for exports, industry officials told Reuters, cashing in on multi-year high prices in the world market and robust demand. It is reported by Reuters. The world's second-biggest producer of the sweetener is, however, unlikely to allow additional exports in the current marketing year ending on Sept. 30, due to a like...

Sugar mills in Brazil, the world's largest producer and exporter of the sweetener, had a very productive first half of May with no stoppages and a large sugarcane crush seen above 40 million tonnes for the fortnight, according to industry analysts. It is reported by Nasdaq. "In the center-south of Brazil no significant rains in May so far so no days lost," said Felippe Reis, crop analyst for EarthDaily Analytics. A survey of 13 a...

Germany's second largest sugar refiner Nordzucker reported a 116% surge in annual profit on Wednesday, benefitting from high sugar prices, and said it is optimistic it will achieve good results in its new financial year. It is reported by Reuters. Unlisted Nordzucker posted a 182 million euro ($200.4 million) net profit for its 2022/23 financial year to end-February, up from 84 million euros the previous year. Sale...

The International Sugar Organization (ISO) on Monday sharply reduced its projection for a global sugar supply surplus in 2022/23 (Oct-Sept) to 850,000 tonnes from 4.15 million tonnes seen in its previous quarterly report in February. It is reported by Nasdaq. The new estimate includes revisions in key regions such as Europe, China, Thailand and India, where production came in below previous expectations (see tables below), a si...