The sugarcane harvest in two leading Asian producer countries, India and Thailand, has exceeded expectations and promises an increase in sugar exports in the region. This information was reported by Wilmar, a commodity company based in Singapore.
Karim Salamon, the chief sugar analyst at Wilmar, stated that it is expected that up to 85 million tons of sugarcane will be processed in Thailand, resulting in the production of 8.5-9 million tons of sugar, which is 1 million tons more than forecasted just three weeks ago.
In India, a better harvest is also expected despite a less abundant monsoon in 2023, with production of over 32.5 million tons of sugar and possibly over 33 million tons.
The new sugar season in Brazil, starting in April, also anticipates reaching a record production level due to investments in expanding production capacities. Sugar production is forecasted to range from 42.5 to 44.5 million tons in the years 2024/25.