Podcast Episode Summary: Global Sugar Market Weekly Update — June 8, 2025

• This week’s podcast provides a structured analysis of developments across major sugar-producing nations and the broader global market dynamics as of early June 2025.
• Brazil is facing a sharp production decline in its 2025/26 harvest, particularly in the Center-South region, which has reported a 22.7% year-on-year drop in output by mid-May. This contraction, largely driven by unseasonal rainfall, has impacted both sugar and ethanol production. However, national output is still projected to reach between 44.1 and 45.9 million tons, with the state of Goiás showing positive growth due to improved land management and favorable weather. Ethanol production, in contrast, has plunged 35%, despite a brief spike in interest from rising oil prices, as adverse weather continues to disrupt operations.
• Thailand is on a recovery path, with 2024/25 sugar output rising 14% to 10 million metric tons, and further growth expected next season. This is attributed to better farming techniques and conditions. India is also seeing a 25% surge in production, forecasted to hit 35.3 million tons in 2025/26. However, a strict export cap of 800,000 metric tons remains in place to stabilize domestic prices, alongside new regulatory reforms aimed at enhancing transparency and integrating digital monitoring across sugar mills.
• Pakistan continues to grapple with operational inefficiencies and rising retail prices, up 21.6% year-on-year. The government has responded with temporary price controls and a third-party production audit to create a transparent pricing structure.
• In the Philippines, new regulations now require importers of sugar and substitutes to register and pay clearance fees, designed to protect domestic producers and stabilize the local market.
• At a global level, the sugar market is transitioning from deficit to surplus, propelled by rising output from key producers such as Brazil and India. This shift is influencing pricing, export strategies, and market confidence, while broader factors such as currency volatility continue to play a key role.