EU Commission sees 2017/18 sugar production up 20% while export demand to fall 50%
Published: 07/12/2017, 2:40:39 PM
The European Commission said in its "Short Term Outlook for EU arable crops, dairy and meat markets" that it expects 2017/18 sugar production to increase 20% on the year at 20.1 million metric tonnes, reports Sugaronline.
The first crop to be harvested following the end of sugarbeet production quotas, despite smaller beginning stocks of just 1.3 million tonnes, about a third lower than for the previous season, the market should be more than sufficiently supplied with just 1.5 million tonnes of imports.
Since 2013/14, imports have ranged between 2.7 million and 3.4 million tonnes.
Also for the first time in more than a decade, exports will no longer be capped at 1.4 million tonnes. The European Commission expects a jump in exports to 2.8 million tonnes as a result.
Even with demand seen increasing 7% for the season to 21.9 million tonnes, including 1.6 million tonnes of white sugar equivalent for ethanol production, the EC expects 105% of self-sufficiency in sugar compared to 81%-89% achieved during all of the previous four seasons except for 2014/15's balanced market that required not only 2.6 million tonnes of opening stocks but also 2.8 million tonnes of imports.