Brazil Set for Second-Largest Sugar Crop Amid Favorable Weather and Expanded Acreage

According to recent estimates presented at New York Sugar Week, Brazil is poised to have its second-largest sugar crop on record due to favorable weather and an expanded cane area. This follows last year’s struggles caused by logjams at Brazilian ports that led to steep price increases. While India, the world’s second-largest sugar producer, will not export in significant quantities over the next year, Brazil’s output is expected to rise, potentially leading to market reliance on a single country. However, experts caution against overreliance given the majority of Brazil’s sugar exports originate from a single port, presenting a “huge risk.” Experts predict a relatively balanced global market for the upcoming year, as inventories remain at historically low levels. These findings offer relief to sugar buyers who have faced years of shortages.