- The world should have 2.8m tonnes more sugar than it needs to satisfy demand this season.
- This is a 1.3m tonne increase from our December Statshot.
- Thai production should rebound from the past two drought-hit seasons, but cassava is still gaining area.
Global Sugar Production
We now think the world will produce 176.7m tonnes of sugar this season.
If it does, it’ll have 2.8m tonnes more sugar than it needs to satisfy global demand, up 1.3m tonnes from our December estimate.
Our production estimate is larger following minor increases to our numbers for Ukraine and other countries.
We also think the world will consume 173.8m tonnes of sugar this season, down 100k tonnes from our previous estimate.
Regional Production Updates
We think Thailand will produce 10.3m tonnes of sugar this season. This is 2m tonne increase from the drought-hit 2019/20 and 2020/21 seasons, with weather conditions improving this season.
Nevertheless, this number remains a long way off those seen in 2017/18 and 2018/19, as cassava continues to occupy more area.
Other Insights That May Be of Interest…
Market View: The Sugar Market Turns Positive
Explainers That May Be of Interest…
