CropGPT - Sugar - Week 40

CropGPT - Podcast for Soft Commodities

Global Sugar Market Weekly Summary: Key Highlights for October 5, 2024

• Brazil (Center-South Region): Sugarcane crushing for the first half of September reached approximately 43 million tons, marking a 2.46% increase from last year. Cumulative figures for the 2024-2025 harvest stand at 466.26 million tons. The recoverable sugars (ATR) for this period improved by 3.98%, totaling 159.52 kilograms per ton. Sugar production remained steady at 3.123 million tons, while ethanol production reached 2.43 billion liters, with a 16.76% increase in ethanol sales. As of September 23, 2024, 30.03 million CBIOS credits were issued.
• Thailand: NDVI readings indicate regional variations in sugarcane health. Nakhon Sawan shows positive crop health, while Kalasin and Roi Et report deterioration. Regions like Lop Buri and Suphan Buri show significant improvements, while Phitsanulok and Uttaradit face declines in crop health.
• India: Uttar Pradesh shows robust sugarcane health with high NDVI readings, suggesting higher yields. Maharashtra and Gujarat face lower NDVI readings, pointing to potential yield reductions. Bihar and Karnataka report positive crop conditions, while Andhra Pradesh sees negative variances. The Indian sugar industry faces stable production estimates, potential quota cuts, and dynamic international collaborations, with mixed sentiments in domestic and global market conditions.
• China: NDVI readings in China show varied sugarcane health. Guangxi shows strong crop progression, while Hainan faces challenges, indicating potential yield issues. Yunnan surpasses average NDVI values, suggesting a favorable yield, while Guangdong reports declines, reflecting broader challenges.
• Australia (Queensland): Queensland, a major sugarcane-growing area, shows improved NDVI readings compared to long-term averages, indicating potential for higher yields, depending on stable seasonal conditions.

In summary, global sugarcane production faces complex dynamics influenced by environmental factors and industry policies. These insights are essential for stakeholders looking to make informed decisions in the sugar market.

For more detailed information, including crop health reports, weather data, pricing data, and earnings analysis, visit CropGPT.