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USDA Forecasts Thailand's Sugar Production To Rise To 10.2 MMT In 2024-25


Published Date: May 16, 2024
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The United States Department of Agriculture's Foreign Agricultural Service (FAS) has released a report titled "Sugar Annual" for Thailand, which highlights the forecast for the 2024-25 season. 

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Thailand’s Sugar Production 

According to the report, sugarcane production is expected to rebound in MY 2024–25 after declining by 12% in MY 2023–24. With sugarcane production rebounding and sucrose yield rising, sugar production in MY 2024–25 is predicted to reach 10.2 MMT, up 16 percent from MY 2023–24. 

Meanwhile, sugar production in MY 2023-24 is expected to fall to 8.8 MMT, a 20% decrease from MY 2022-23, due to lower sugarcane production and a low sugar extraction rate. 

Nonetheless, it is anticipated that molasses production will rise to 3.57 MMT in MY 2023–24, a 6 percent increase from MY 2022–23. 

In MY 2023–24 and MY 2024–25, sugar consumption growth is anticipated to increase approximately 4% yearly after a gradual economic rebound in 2024. 

The growth in sugar consumption in MY 2022–2023 dropped to 12% from 17% in MY 2021–2022 as a result of the slowdown in the 2023 economic recovery.

Furthermore, during the third phase of the sugar tax transition, which runs from April 1, 2023, to March 31, 2025, producers of non-alcoholic beverages will continue to restructure their products by replacing sugar with artificial sweeteners in an effort to lower the amount of sugar in them and avoid the progressive sugar tax. 

Additionally, the report projects that sugar exports in MY 2024–25 will level off at 9 MMT, down 10% from MY 2023–24, as sugar exports from India—the second-largest sugar exporter in the world—are expected to resume in MY 2024–25. 

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