Brazil’s sugar industry has been one of the largest contributors to the country’s economic growth for fifteen centuries, thanks to its significant production of sugarcane. Today, Brazil remains the world’s largest sugarcane producing country and the world’s number one sugar supplier, accounting for over 70% of the global sugar demand. Despite the consecutive ups and downs in Brazil’s sugarcane output as well as the global sugar price, this South American country is expected to continue its leading position in the global sugar industry.
According to a recent forecast from the USDA’s Agricultural Trade Office, Brazil’s sugar production is expected to reach a total of 645 million tonnes in the fiscal year of 2017-18. Although the estimated sugar production is around 1% less than its previous year figure, Brazil is still the world’s largest cane sugar producing country. Brazil is not only the world’s largest sugar producer but also the world’s largest sugar exporter. In 2016, Brazil exported total 29 million tonnes of sugar, worth over $10.4 billion, representing nearly 40% of the world’s total sugar exports that year.
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Brazil’s sugar cane industry continues to bloom. When it comes to production quality, sugarcane is the world’s largest crop and Brazil is its largest producer. Sugarcane alone accounts for over 80% of sugar produced. The Agricultural Trade Office also estimates that 48% of the sugarcane produced in Brazil will be diverted to sugar this coming fiscal year, due to the expected deficit on the world market, while total sugar exports are projected to increase by 5% reaching 29.07 million metric tonnes (MMT). The center-south (CS) region is expected to harvest 600 MMT of sugarcane in the fiscal year of 2017/18, while the North-Northeastern (NNE) sugarcane production for year 2017/18 is projected at 45 MMT.
The steady growth of the sugar industry in Brazil is believed to be mainly driven by the continued deficit in the global sugar market. Brazilian sugar exports for this coming fiscal year of 2017/18 are projected at 29.07 MMT, up 1.3 MMT compared to the previous fiscal year 2016/17. Brazil has remained competitive on the global sugar market in part because of the devaluation of the local currency, the Real. Currently, the biggest markets for Brazil’s sugar exports are India, China, Algeria, Bangladesh, Indonesia, and Malaysia.
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