The European Commission has revised its estimate for white sugar production in the ongoing 2023-24 season, increasing it to 15.6 million metric tonnes from the earlier projection of 15.5 million made in late September, reported Reuters.
This revise represents a 7.0% rise compared to the previous year’s output.
The increase in production is attributed to a combination of factors, including expanded sugar beet plantings, improved yields, and the potential for higher sugar content, as stated in its short-term agricultural market outlook for 2023 and 2024, released on Monday.
Furthermore, the Commission has raised its forecast for sugar exports from the European Union (EU) for this season, projecting a total of 750,000 tonnes, higher than from 700,000 tonnes previously.
Imports, on the other hand, are expected to remain unchanged at 1.9 million tonnes, representing a decrease of more than 20% compared to the 2022-23 season.
