Global sugar consumption is expected to grow further and production to expand 14% between 2024 and 2033 - OECD-FAO

Tuesday, July 2, 2024
Emerging economies will continue driving agricultural markets over the coming decade but with regional shifts projected - OECD-FAO Agricultural Outlook 2024-2033. Global sugar consumption growth is anticipated to double over the next ten years compared to the previous decade, mainly as a result of the faster economic growth projected in low- and middle-income countries across Asia and Africa. Per capita sugar consumption in these regions, is still expected to stay considerably below the level in high-income countries, as the consumption gap is only slightly narrowing. Sugar production is expected to expand over the Outlook period by 14%. Sugarcane is projected to account for more than 85% of the total sugar crop output, with Brazil consolidating its position as the largest producer of sugarcane. Investment in Brazil has been steadily increasing in recent years and expansion mainly in area and yield is expected to rise over the next decade. Productivity gains, including varietal improvements and higher extraction rates, will drive sugar production growth in India and Thailand, with acreage projected to remain relatively fixed.
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