Sugar production in Brazil, supported by an unprecedented harvest and favorable world prices, reached a historic level in the 2023-2024 season, consolidating the country as the world's largest producer, according to official data released this Thursday. Production totaled 45.7 million tons, announced the National Supply Company (CONAB, a company linked to the Ministry of Agriculture) in its latest report.

Brazil, the world's largest sugar exporter, also achieved record sales abroad between April 2023 and March 2024, with 35.2 million tons, 26.8% more than the previous harvest. In addition to the increase in world prices, CONAB, highlighted that the country benefited from the “decrease in shipments from important producers such as India and Pakistan, which suffered climate problems”.

713.2 million tons of sugar cane were harvested this season (+16.8%). The harvest result also reflects the increase in productivity in the main producing regions, driven both by investments in the sector to renew plantations and by favorable weather conditions, mainly in the state of São Paulo, explained the company linked to the public. to the Ministry of Agriculture.

Productivity reached more than 85 tons per hectare, 16.2% more than the previous harvest. Given the attractive world sugar prices, Brazilian producers preferred the production of the raw material to ethanol (produced from sugar cane), which increased by 12%, to 29.7 billion liters.

After reaching their highest level since 2010 in September last year, world sugar prices, calculated by the Food and Agriculture Organization of the United Nations (FAO), fell again, especially given the prospects of a bumper harvest in Brazil.

 In March, “the magnitude of Brazilian exports also affected world sugar prices”. But “ongoing fears about the harvest” in the South American country, “which has suffered a prolonged drought”, have finally “limited the decline”, the FAO said in its monthly report on food prices in early April. 

Top 7 Producers of Sugar in the World

According to data from the USDA, in 2020, Brazil was the largest producer and largest exporter of sugar in the world, meeting 36% of the demand for exports of the product. Due to its representation and importance in the international sugar market, Brazil is a price maker in reais, with a high production and export capacity, capable of meeting the market's needs according to price incentives.

Furthermore, according to the Renewable Fuels Association, in 2020, Brazil was the second largest producer and second largest exporter of ethanol in the world. Around 90% of Brazilian ethanol production is directed to the internal supply of the flex fleet, directly, through hydrated ethanol and, indirectly, via anhydrous ethanol, as an additive to gasoline. 

Brazil's leadership is due to the adequate topography, climatic and water conditions, which favor the development and agricultural productivity of the crop. Brazilian producers have a series of competitive advantages that enable the lowest production cost among the main producers in the world and guarantee the sector's resilience in times of tighter margins. 

Who Are the Top 10 Sugar Importers Countries?

The desire for sugar endures in countries and continents, making it a vital issue of international alternatives. Let's take a look at the pinnacle of three countries that lead the manner within the import of sugar as economies converge and consumer possibilities trade. The USA is the biggest sugar importer with its sugar imports worth $13.85 billion in 2023. The top 10 sugar importer nations in 2023 consist of:

1. United States 

2. China 

3. Indonesia 

4. Germany 

5. UK 

6. Spain 

7. Canada 

8. South Korea 

9. France

10. Malaysia

In the graphic below is possible to view their importations in American dollars currency.