USDA forecasts 2021/22 global sugar production at 81m tons

Global sugar production for the crop year 2021/22, which began in October this year, should be 181.1 million tons. The production is stable compared to the previous cycle, according to estimates by the United States Department of Agriculture (USDA) in a semester report.

The entity projects that the drop for Brazil should be offset by increases in the European Union, India, Russia, and Thailand.

Exports should reach 63.1 million tons, a level similar to the previous season, with the drop in Brazil being offset by a significant increase in Thailand.

For global consumption, the expectation is for an increase, mainly due to increases in China, India, and Russia, reaching 174.55 million tons.

The USDA expects sugar production in Brazil to be 36.0 million tons, 6.1 million tons less than a year earlier, “in part as a result of dry weather and frosts”. The drop in Brazilian production should support global prices, and keep sugar at levels more remunerative than those for ethanol for Brazilian mills, according to the US government agency. The country must export 26 million tons during the season, down 6.15 million tons compared to 2020/21.

Source: Money Times

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