European Union: Sugar Annual

EU sugar production for MY 2021/22 is forecast at 15.8 million metric tons (MT) in Raw Sugar Equivalents (RSE), a recovery of 1.1 million MT from MY 2020/21, but still 750,000 MT below the revised MY 2019/20 production. The EU sugar consumption forecast for MY 2021/22 is 16.75 million MT as consumption should recover after the COVID-19 crisis, which reduced EU sugar consumption for MY 2020/21 and MY 2019/20 to 16.6 million MT RSE. The EU sugar import forecast for MY 2021/22 is 2 million MT, similar to MY 2020/21, while the MY 2019/20 import was 2.2 million MT, including imports from the UK after Brexit. The EU sugar export forecast for MY 2021/22 remains at 1.0 million MT RSE, on par with MY 2020/21 exports and almost 0.5 million MT below MY 2019/20. Despite the EU-UK free-trade agreement, sugar trade between the EU and the UK will be limited by the rules of origin. EU sugar ending stocks for MY 2021/22 are forecast at 1.16 million MT, slightly up from MY 2020/21, but just above half of MY 2019/20 stocks.