It is reported by USDA in its November report.
Consumption is anticipated to rise to a new record due to growth in markets including India and Pakistan. Exports are estimated higher as Brazil and Thailand are expected to more than offset lower shipments from India and Pakistan. Stocks are estimated lower to help meet domestic demand and higher exports from markets including Brazil and Thailand.
EU’s beet sugar production was forecast at 15.5 million metric tons, the USDA said, bolstered by increased plantings mainly in Poland, up 19%, Romania, Slovakia and Hungary, and also Spain.
Planted area in France was reduced due to concerns about banned chemicals.
The European Union is the third largest sugar producer behind Brazil and India and is estimated by the USDA to be the fifth largest importer. EU imports in 2023/24 are forecast to decrease 500,000 tons to 2.5 million tons.
