Brazil’s sugar exports reached a record high in 2024, surpassing last year’s peak, as the country expanded its global market share amid India’s absence from the international sugar trade, according to government data.
Brazilian sugar exports to key countries in 2023 and 2024. The data highlights significant increases, especially in exports to Indonesia, UAE, and Egypt, reflecting Brazil’s expanded role in the global sugar market following India’s export ban.
As the world’s largest sugar producer, Brazil exported 31.7 million metric tons from January through the fourth week of October, already exceeding the 31.3 million tons exported throughout 2023, according to Trade Ministry figures.
India’s export ban, implemented by the world’s second-largest sugar producer, shifted more demand toward Brazil, pushing its share of the global market to around 70%, noted consultancy firm Argus. Indonesia, significantly increasing its purchases, became the largest importer of Brazilian sugar, overtaking China. Other countries, including Egypt and the United Arab Emirates, also ramped up imports from Brazil.
Despite a projected smaller crop in 2024, Brazil leveraged inventories from its record 2023 harvest, enabling high export volumes through the year.
“With India absent from the international market, Brazil redirected higher volumes to both India and other previous Indian markets,” Argus reported.
In the first nine months of 2024, Brazil exported 2.2 million tons to India, a 72% increase year-over-year. Exports to Indonesia reached 2.6 million tons, nearly three times the volume from the same period in 2023. Similarly, exports to the UAE nearly tripled, totaling 2.1 million tons, compared to 731,800 tons last year. Egypt’s imports also surged, reaching 1.6 million tons by September, more than double last year’s figures.