South Africa: Sugar Semi-annual
Link to report:
Hot and dry conditions in the autumn and winter of 2024 led to a drop in the production of South African sugar cane. This is expected to translate into a slight decrease in sugar production and exports. Domestic consumption of sugar in MY 2024/25 is revised downwards on further increases in the notional price implemented in September 2024. On August 8, 2024, the South African Revenue Service adjusted the custom duty on sugar from R1,096.60/MT to R2,348.90/MT due to a continued drop in global sugar prices. Despite a drop in sugar production, Post expects that South Africa will fully utilize its allocated U.S. tariff rate quota in MY 2024/25.
