- Admin
- #1
Raw sugar prices are expected to post an annual gain of nearly 20% in 2024 as the global market shifts into a deficit in the upcoming season, a Reuters poll of 12 traders and analysts showed. Output in Centre-South Brazil, the leading production region, is expected to remain strong despite a modest drop in the cane crop with mills favouring production of the sweetener over biofuel ethanol. The poll's median estimate was for a global sugar surplus of 500,000 metric tons for the current 2023/24 season (October to September), which will flip into a deficit of 700,000 tons in 2024/25.