Brazil: Sugar Annual
Link to report:
Brazil’s Marketing Year (MY) 2023/24 sugarcane crop is forecast to reach 661.4 million metric tons (MMT), which is 6.5 percent larger than MY 2022/23, because of favorable weather conditions and high sugar prices. The increase in sugar prices should also result in a higher sugar portion of the sugar-ethanol production mix. Post forecasts Brazilian sugar exports to increase 15 percent in MY 2023/24 to 32.4 MMT, raw value, because of the larger surplus of exportable sugar compared to the previous season. Brazil remains the second-largest recipient of the U.S. sugar tariff-rate quota, currently receiving an allocation for FY 2023 TRQ of 196,440 metric tons, raw value.
