Argentina: Sugar Annual
Link to report:
Post projects Marketing Year (MY) 2023/24 sugarcane production to drop to 18.9 million metric tons (MMT) due to dry weather and high heat during the southern hemisphere summer. This is the third consecutive year of poor growing conditions due to a La Niña weather pattern. The shortfall in sugarcane production will primarily result in lower production of bioethanol, which is currently unprofitable due to low official prices. In contrast, domestic and international prices for sugar remain attractive to Argentine sugar mills, so sugar production, domestic consumption, and exports are projected to remain similar to MY 2022/23.
