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CANBERRA: Australia’s sugar production should rise to 4.2 million metric tons in the 2024/25 marketing year from an estimated 4.1 million tons in 2023/24, the US Department of Agriculture (USDA) said.

“The increase in production is partly driven by an anticipated small increase in sugar cane harvest area for marketing year 2024/25, along with a modest increase in yield,” the USDA said in a report dated April 16.

Raw sugar exports should rise to 3.45 million tons from 3.35 million tons in 2023/24, according to the report. Australia is a relatively small grower, although it is a significant exporter due to limited local demand.

Most of its raw sugar is sent to Japan, Indonesia and South Korea.

Australia exports almost no refined sugar.

SAB fails to take decision on sugar export

Raw sugar prices have dipped from a 12-year peak reached last November but remain historically high, with a global supply deficit expected to emerge in the 2024/25 season.

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