Browse Data and Analysis

FAS Manila forecasts marketing year (MY) 2024 raw sugar production at 1.9 million metric tons (MT). Higher prices encouraged more farmers to plant sugarcane and better fertilization is expected to result in higher production. Post expects limited exports to resume in 2024 given high production and high carryover stocks.

Sugar production in Venezuela is forecast to increase by 13 percent to 300,000 MT in marketing year (MY) 2023/24 due to improved access to quality inputs, a reduction in diesel shortages, and higher prices to producers.

Sugar production in marketing year (MY) 23 is estimated at 805,000 metric tons (MT), while production for MY22 reached 785,000 MT. Improving international prices have eased the financial burden exerted by the high cost of inputs on the sugar sector.

As a severe drought looms large over the sugar mill areas in the Dominican Republic (DR) and the U.S. Customs and Border Protection (CBP) continues to prohibit sugar and sugar-based imports from the top Dominican producer, Post forecasts local production at 530,000 metric tons (MT) for marketing year (MY) 2023/24 (October/September), 12 percent down from the MY 2022/23 estimates.

Australia’s sugar production is forecast to increase to 4.4 million metric tons (MMT) in marketing year (MY) 2023/24, from an estimated 4.2 MMT in MY 2022/23. This increase is due to an expected rise in sugar cane crush to 33.5 MMT in MY 2023/24, from an estimate of 32.6 MMT in the previous year.

Private sugar mills expansion leads to increased production in 2022/2023. El Nino, which usually increases sugar content in sugarcane and continues area expansion by private sugar mills is forecast to further increase plantation white sugar production in 2023/24 to 2.6 million metric tons (MMT).

Sugar production in MY2022/23 and MY2023/24 is still far below record production levels due to reduced sugarcane acreage.

In marketing year (MY)2023/2024, Guatemala is forecast to produce 2.6 million metric tons of sugar from sugarcane from a harvested area of 251,000 hectares.

FAS/Managua projects Nicaraguan sugar production and exports recovering in marketing year 2023/24, despite deteriorating political and economic conditions in Nicaragua, with the anticipated arrival of an El Niño weather system and drier weather in the latter half of 2023.

FAS/San José projects Costa Rican sugar production to rebound to 400,000 metric tons in marketing year 2023/24, climbing nearly 10 percent higher from marketing year 2022/23, on drier conditions associated with the anticipated return of an El Niño weather system.

Sugar production in 2023/24 is forecast at 7.05 million tons, three percent above the 2022/23 estimate. The marginal increase is due to expectations for a recovery in cane area harvested compared to the flood-damaged 2022/23 crop.

On December 22, 2022, the Department of Agriculture (DA) issued Memorandum Order 77 (MO 77) for the department to take action to stabilize sugar prices and evaluate the importation of 65,050 metric tons (MT) of refined sugar through the Minimum...