Browse Data and Analysis

Marketing year (MY) 2024/2025 Venezuelan sugar production is forecast to increase to 373,000 metric tons due to favorable yields, increased access to quality inputs, improved prices for producers and better sugar industry profit margins.

FAS-Lagos forecasts a 6 percent decrease in raw sugar imports in marketing year (MY) 2024/25 due to the scarcity of foreign exchange and the projected decrease in consumption.

The Federal Executive Council approved the extension of the National Sugar Master Plan (NSMP) by 10 years (2023-2033). NSMP is an effort of the Government of Nigeria to ensure self-sufficiency in local sugar production.

Sugar production in Venezuela is forecast to increase by 13 percent to 300,000 MT in marketing year (MY) 2023/24 due to improved access to quality inputs, a reduction in diesel shortages, and higher prices to producers.

Nigeria’s current 10-year Sugar Master Plan (NSMP) will end next year – likely moving on to another 10-year Phase Two Plan. The growth in sugar consumption is expected to be driven by the food processing sector.

Sugar production in Venezuela for MY 2022/23 is forecast to increase by 39% to 265,000 MT. The increase is primarily due to yield gains as a result of better access to quality inputs and a reduction in diesel shortages, as well as more favorable prices for producers.

Nigeria’s sugar industry is facing serious challenges despite efforts by the government to create self-sufficiency in sugar production and reduce raw sugar imports.

In MY 2021/22, Venezuelan sugar production is projected upwards to 190,000 MT.

Venezuelan sugar production is forecast down to 150,000 metric tons in MT 2020/21 due to shortages of fuel and inputs.

FAS Lagos (Post) forecasts Nigeria’s domestic cane sugar production in marketing year (MY) 2019/20 (May-April) to reach 75,000 metric tons (MT) (raw value), down about 6 percent....

Economic mismanagement and an over dependence on oil exports have led to Venezuela’s economy contracting for the fourth year in a row, down an estimated 15 percent in calendar year (CY) 2017.

Domestic sugar production is forecast up to 300,000 metric tons (MT) in marketing year (MY) 2017/18.