Positive outlook for Brazil’s sugar exports
Aug, 26, 2024 Posted by Gabriel MalheirosWeek 202435
The international sugar market outlook is favorable for producing countries, and demand for Brazilian sugar remains strong. This information comes from the sugarcane harvest estimate released by Brazilian agency Conab on Thursday (22). Brazil primarily produces sugar from sugarcane and is expected to harvest the second-largest sugarcane crop in history during the 2024-25 season, with 689.8 million tonnes.
Between April and July, Brazil exported 11.6 million tonnes of sugar, according to data from the ministry of trade. This volume was 27.1% higher than the amount shipped during the same period of the previous harvest. Revenue reached USD 5.6 billion, an increase of nearly 24%.
The chart below shows the sugar export volume at the Port of Santos, Brazil’s top sugar export port, between January 2021 and June 2024. The information was derived from DataLiner.
Sugar Export Volume from Santos | Jan 2021 – Jun 2024 | WTMT
Source: DataLiner (click here to request a demo)
Sugar output
According to Conab, the outlook for the coming months is that favorable prices for producers will persist, as a decline in production is projected in Asia. Brazil is expected to produce 46 million tonnes of sugar from the 2024-25 harvest, an increase of 0.7% compared to the previous period, which would be a record if Conab’s estimates are confirmed.
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