Australia: Sugar Annual

Australia’s sugar production is forecast to increase to 4.4 million metric tons (MMT) in marketing year (MY) 2023/24, from an estimated 4.2 MMT in MY 2022/23. This increase is due to an expected rise in sugar cane crush to 33.5 MMT in MY 2023/24, from an estimate of 32.6 MMT in the previous year. The increase in production is in part driven by an anticipated small improvement in sugar cane yield after overall very good crop growth conditions for the first nine months of the season. In addition, there is an expectation of an increase in harvested area after a significant area of sugar cane was unable to be harvested in MY 2022/23 and will be carried over into MY 2023/24. Raw sugar exports are forecast to increase to 3.5 MMT in MY 2023/24 from the prior year estimate of 3.2 MMT, while refined sugar exports are expected to increase to 100,000 metric tons (MT).