According to a report released by the US Department of Agriculture (USDA) this week, it is expected that global sugar production for the 2024/25 (October September) squeezing season will increase to a record breaking 186 million tons, while demand will also reach a historic high of 178.8 million tons.

The US Department of Agriculture reported that the global sugar market remains oversupplied, and Brazil's production for 2024/25 will decrease from 45.5 million tons in the previous year to 44 million tons. However, Thailand's sugar production is expected to increase by 16%, and India and China's sugar production will also slightly increase, offsetting Brazil's 1.5 million ton decline in 2024/25. In the year 2024/25 (October to September of the following year), global sugar production will reach a record breaking 186 million tons, while demand will also reach a historical high of 178.8 million tons. The global sugar market may still be in a state of oversupply, mainly due to slow global economic recovery, which has weakened consumption growth.

The US Department of Agriculture predicts that Brazil's total production will decrease from 45.5 million tons in the previous season to 44 million tons, while Thailand's production is expected to increase by 1.4 million tons to 1.04 million tons as Asia resumes more normal rainfall patterns, and the impact of El Ni ñ o weather on the sugar industry is also largely over.

The US Department of Agriculture predicts that China's sugar production during the 2024/25 crushing season will increase by 500000 tons compared to the previous season, reaching 10.4 million tons. According to the estimate released by the Information Center of the Ministry of Agriculture in mid May, China's sugar production during the 2024/25 squeezing season will reach 11 million tons.

The US Department of Agriculture predicts that Mexico, a major sugar importer in the United States, will also resume growth in sugar production, recovering from the extremely low 4.9 million tons during the 2023/24 crushing season. It is expected that Mexico's sugar production will reach 5.5 million tons during the 2024/25 crushing season.