India’s 2024-25 sugar production looks set to drop to 28 million tonnes, with no diversion to ethanol, Sucden analyst Olivier Crassard said in an emailed report.
Depletion of reservoir levels has hurt cane plantings in Southern India
Stocks are expected to rebound to 7 million tonnes in the 2023-24 season; they could be down to 6 million tonnes by the end of 2024-25.
“India is likely to remain detached from any involvement in the world market over the current and upcoming seasons.” Brazil’s Center-South region is expected to produce a sugar crop of 40.8 million tonnes in the 2024-25 season, down 1.8 million tonnes year-over-year
Rains from December to February were about 70% of the average, leading to a delay in vegetative growth
“In a world that depends on Brazil for over 75% of its raw sugar supply, the sugar giant looks likely to miss the mark this year.”
Thailand’s crop should see recovery in the next season due to higher cane prices 2023-24 sugar production is expected to reach 8.5 million tonnes, down by 2.5 million tonnes from a year earlier. 
