EU sugar production to increase by 7% in 23/24

The European Commission has raised its estimate of white sugar production in the EU in the current season of 2023/2024 MY to 15.6 million tons from 15.5 million tons previously forecast, which is 7% higher than last year, Reuters reports.

In its short-term forecast of agricultural markets for 2023 and 2024, published on Monday, the Commission also raised the forecast of sugar exports from the EU this season to 750 thousand tons from the previously expected 700 thousand tons, but kept imports unchanged at 1.9 million tons, down more than 20% from the level of 2022/2023 MY.

Tags: sugar, EU