Turkey: Sugar Annual

In response to an increase in the seasonal sugar beet purchase price, farmers are expected to plant more beets in MY 2022/23. In parallel with expanded plantings, beet sugar production in MY 2022/23 is forecast up year-over-year to 3.1 million metric tons (MMT). With the sugar production quota for this period set at about 2.8 MMT, the excess in sugar production will go for export. Amid rising food inflation and higher on-farm input costs, the wholesale and retail prices of sugar (in local currency) have more than doubled since last year.