Brazil’s sugar export revenue reach BRL 58 billion in 2024 amid shifting market dynamics

By July 2024, Brazil exported 20.542 million tonnes of sugar, marking a 45% increase compared to the 14.167 million tonnes shipped in the same period in 2023. This surge in sugar export volume was accompanied by a 52.7% rise in revenue, reaching R$58.570 billion, up from R$38.367 billion recorded the previous year.

The following chart explores Brazil’s sugar export volume between January 2022 and June 2024. The information was derived from DataLiner, a Datamar-original market intelligence experience.

Brazilian sugar Exports | Jan 2022 – Jun 2024 | WTMT

Source: DataLiner (click here to request a demo)

In July 2024 alone, exports of sugar and molasses totaled 3.782 million tonnes, reflecting a 28.5% increase compared to the 2.944 million tonnes exported in July 2023. The revenue from these sugar exports also saw growth, rising from R$8.411 billion to R$9.748 billion, which represents a 16% increase year-over-year.

However, the average price per tonne of exported sugar decreased by 9.7%, from R$2,855.59 (US$506.30) to R$2,578.61 (US$457.20). This price reduction, despite the increase in export volume and revenue, indicates shifts in international market conditions.

The data were provided by the Secretariat of Foreign Trade (Secex) of the Ministry of Development, Industry, Commerce, and Services (MDIC), based on 23 business days in July 2024, compared to 21 business days in the same month of 2023.

Source: Sou Agro

Click to access the original text: https://souagro.net/noticia/2024/08/brasil-fatura-r-58-bilhoes-em-7-meses-com-venda-de-acucar/

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