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World Sugar Situation
| World centrifugal sugar production for 2000/01 is estimated at 127.7 million tons (raw value), down 6 percent from the record level set in the preceding year. World production of 2001/02 is forecast at 126.3 million tons. Brazil’s 2000/01 production is now estimated at 17 million tons, down by 3.1 million tons from the preceding year. Brazil’s production for 2001/02 is forecast at 17.75 million tons. World sugar consumption for 2000/01 is estimated at 128.5 million tons, up 2 percent from the previous year. Consumption for 2001/02 is forecast at 129.4 million tons. World exports for 2001/02 are forecast at 33.6 million tons, down 5 percent from the 2000/01 estimate of 35.4 million tons. Brazilian exports are forecasts to rebound by nearly 700,000 tons, while exports from the European Union may decline by nearly 2.6 million tons. |
Summary
Production
The 2000/01 world centrifugal sugar production is estimated at 127.7 million metric tons (raw value), up 3.1 million tons from the November forecast (Circular FS2-00). The 1999/2000 production estimate is revised up from the November circular by .9 million tons to total 135.4 million tons. The 2001/02 world production forecast is 126.3 million tons. Brazilian production for 2000/01 is now estimated at 17 million tons, down 15 percent or 3.1 million tons from the previous year’s record of 20.1 million tons. Forecast Brazilian production for 2001/02 is placed at 17.8 million tons. Production in the European Union (EU) for 2000/01 is now placed at 18.5 million tons, up one million tons from the November estimate. EU production for 2001/02 is forecast at16.6 million tons.
Trade
Unadjusted world sugar imports for 2000/01 are forecast at 34.2 million tons, down by 336,000 tons from the very high level set during the previous year. Estimated world exports for 2000/01 are down by 3.9 million tons and placed at 35.4 million tons. Forecast world exports for 2001/02 are at 33.6 million tons down 1.7 million tons. Brazilian exports for 2000/01, are now estimated at 7.7 million tons up 1.5 million tons, or by 24 percent, from the November estimate. Brazil’s exports for 2001/02 are forecast at 8.4 million tons. EU exports for 2000/01 are estimated at 6.6 million tons up, 1.45 million tons from the November estimate. Exports for 2001/02 are forecast at 4 million tons down 39 percent from the previous year.
Consumption
World sugar consumption for 2000/01 is estimated at 128.6 million tons, down 139,000 tons from the previous estimate. Forecast consumption for 2001/02 is 129.6 million tons.
Domestic Sugar Prices
World prices for raw sugar (f.o.b. Caribbean Contract No. 11) averaged 7.53 cents per pound for fiscal year 2000, down only 0.48 cents per pound from the previous year. However, prices for the first seven months of the current fiscal year improved considerably, averaging 10.14 cents per pound, in response to declining stocks and reasonably strong consumption.
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