Episode Summary: Global Sugar Market Highlights for September 25, 2024
- Russia (Bashkiria): Sugar beet production has exceeded factory processing capacity, with 2.43 million tons harvested thanks to favorable weather.
- Brazil: Fires caused $18 million in damage to Tereos Sugar Cane fields, affecting 30,000 hectares. Sugar prices in São Paulo are soaring due to drought, fires, and high demand, impacting global markets.
- United States: Record sugar production of 8.6 million tons due to favorable weather and high sugar content in beets, lowering domestic sugar prices.
- Australia: Wilmar International's sugar factories resume operations after a strike, expected to stabilize supply and meet global demands.
- Global: Belarus anticipates a strong sugar beet harvest over 5 million tons. Ukraine boosts sugar beet acreage by 9%. India shifts sugar mills toward ethanol production, affecting exports. Fiji faces mill closures from sugarcane shortages and equipment issues. Thailand's consortium invests in Sri Lanka's sugar industry to reduce import dependency.
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