South Africa: Sugar Annual
Link to report:
Post expects sugar cane production in MY 2024/25 to show modest growth on carry-over cane and slight increase in harvested area. Sugar production is forecast to improve on slight increase in cane deliveries. The sugar industry effected notional price hikes of white and brown sugar which translated to increases in retail prices of sugar. Notional prices have remained below the Consumer Price Index (CPI) over a Phase 1 of the South African sugar master plan, which was concluded in March 2023. It is expected that price increases will have a slight effect on domestic consumption of sugar. On March 15, 2024, the South African Revenue Service adjusted the custom duty on sugar from 0.00c/kg to 140.91c/kg. Therefore, all imports of sugar below the Dollar-Based Reference Price (DBRP) into South Africa will attract a duty. Post expects South Africa will fully utilize its allocated U.S. tariff rate quota in MYs 2023/24 and 2024/25.
