Insight Focus
Our forecast for global production is down minimally. Our estimate for global consumption is up at 180.3m tonnes. Our estimates for Thailand are down due to white leaf disease, negatively affecting cane.
2024/25 at a Glance…
Global Sugar Production
Since our last report, our estimate for global sugar reduction has been reduced by 0.1m tonnes. We now forecast that global sugar production will hit 184.6m tonnes.
The reduction mainly comes after changes made to our production forecast for Thailand.
Global Sugar Consumption
Our estimate for global consumption has risen by 0.3m tonnes, as we think the world will consume 180.3m tonnes of sugar in 2024/25.
Production Surplus in 2024/25
Our forecast for the global production surplus is down by 0.4m tonnes and now stands at 4.3m tonnes.
Global sugar stocks are still building from their low point in the early 2020s. However, the build of stocks is not proceeding as quickly as we’d previously hoped, and much of the stock build remains at origin in Brazil and India, and not where it’s most needed.
Production Update: Thailand In the 2024/25 season, we think that Thailand will produce 11.6m tonnes of sugar. This is down by 0.5m tonnes from our previous estimate of 12.1m tonnes.
The drought earlier this year has caused the sugarcane to be weak during the early growth stages, leading to the appearance of white leaf disease during the maturity stage. This has negatively affected sugarcane development and has further resulted in lower agricultural yields.
Other Sugar Producers at a Glance…
