Sugar exports grow 48.8% in March compared to a year prior

In March, the Brazilian sugarcane sector achieved a historic milestone as sugar exports reached unprecedented levels, driven by robust demand from Asian countries, with Indonesia standing out as the main importer.

According to the latest data from the Secretariat of Foreign Trade (SECEX), Brazil exported a total of 2.716 million tons of sugar in March, marking a remarkable increase of 48.8% compared to the same period in 2023.

This extraordinary growth in sugar exports encompasses both refined and raw sugar. In March, refined sugar exports surged to 297 thousand tons, representing an impressive increase of 153.4% compared to the previous year. Similarly, raw sugar shipments also saw significant growth, reaching 1.179 million tons, a 65.0% increase compared to March 2023.

In the first quarter of 2024, sugar export performance continued to exceed expectations, totaling 8.893 million tons, a remarkable increase of 78.1% compared to the same period in 2023.

The following chart displays Brazil’s sugar export volume, measured in metric tonnes, recorded between Jan 2021 and Feb 2024. The data is from DataLiner.

Sugar Export Volume | Jan 2021 – Feb 2024 | WTMT

Source: DataLiner (click here to request a demo)

Asia solidified its position as the main destination for Brazilian sugar exports in March, absorbing a significant share of 58.0% of the total volume. Indonesia stood out as the leader among Asian countries, importing 367 thousand tons of Brazilian sugar, followed by India with 345 thousand tons, and China with 299 thousand tons.

The growing number of buyer countries evidences the exceptional performance of sugar exports in 2024. So far, 130 nations have purchased Brazilian sugar this year, representing a significant increase compared to the same period last year.

The revenues generated by sugar exports in March totaled an impressive $1.476 billion, marking a substantial increase of 77.4% compared to the previous year. With an optimistic outlook ahead, projections indicate an upward trajectory in sugar exports for April, driven by increasing demand from Asia and the continued growth of the global commodity market.

In this favorable context, there is also an increase in the number of ships scheduled for shipment in April, with Nigeria, Indonesia, and Morocco emerging as key destinations for Brazilian sugar exports. This promising outlook reinforces Brazil’s position as a major global supplier of sugar, meeting the growing international demand for this essential commodity.

Source: Jornal Cana

Click here to read the original news article: https://jornalcana.com.br/exportacao-de-acucar-cresce-484-em-marco-em-comparacao-ao-mesmo-periodo-do-ano-passado/

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