Brazil: Sugar Annual
Brazil’s Marketing Year (MY) 2022/23 sugarcane crop is forecast to recover to 613 million metric tons (mmt), an increase of six percent compared to the final estimate for MY 2021/22 (576 mmt), supported by better weather conditions vis-à-vis the previous year. Sugar prices remain significantly attractive which should result in an unchanged sugar-ethanol production mix relative to the previous season. The revised estimate for Brazilian exports in MY 2021/22 is 25.65 mmt, raw value. Brazil remains the second-largest recipient of the U.S. sugar tariff-rate quota. Currently, FY 2022 sugar TRQ for Brazil is allocated at 152,691 metric tons, raw value.