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.
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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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