Skip to content

Brazil's April Sugar Exports Hit Record High

Date: 17/06/2024 – Sugar

In the first official month of the 2024/25 Brazilian sugarcane harvest, Brazil’s sugar exports reached record levels. The volume of sugar exported in April 2024 was 1.89 million tons, marking an increase of 94.7% compared to April 2023. This growth highlights Brazil’s significant position in the global sugar market.

However, when compared on a monthly basis, April 2024 saw a 29.5% decrease from March 2024, indicating some fluctuations in export volumes within the year. These figures were released by the Ministry of Development, Industry, Commerce and Services (MDIC) on May 8th, shedding light on the dynamics of Brazil’s sugar trade.

Export Revenues and Prices

The financial performance of Brazil’s sugar exports also showed notable growth. The average price of sugar in April 2024 was $517.33 per ton, reflecting an annual increase of 8.6%. This boosted the total revenue from sugar exports to $976.5 million, more than double the $461.77 million recorded in April 2023. Despite this annual growth, there was a monthly decline of 4.1% in average prices and a 32.4% drop in revenue from March to April 2024.

Specifically, the Free on Board (FOB) price for IC45 sugar was reported at $555.00 per ton, emphasizing the specific market value of this grade within the overall export figures.

Raw and Refined Sugar Exports

Breaking down the exports by type, Brazil shipped 1.61 million tons of raw sugar in April 2024. This represented an 89.9% increase from the 846 thousand tons exported in April 2023. However, in a monthly comparison, raw sugar exports experienced a slight decrease of 27,000 tons or 1.9%. The average price for raw sugar rose by 7.3% year-over-year to $499.97 per ton, although it fell by 4.6% from March 2024. Consequently, raw sugar revenue for April 2024 amounted to $803.68 million, up 103.9% from $394.21 million in April 2023.

Refined sugar exports also saw significant growth. In April 2024, Brazil exported 280 thousand tons of refined sugar, a 128.1% increase from April 2023. However, there was a notable monthly decline of 37.8%. The average price for refined sugar was $616.98 per ton, generating a revenue of $172.82 million, which marks a 155.8% increase compared to the same month last year.

References

  • Ministry of Development, Industry, Commerce and Services (MDIC). “Brazil’s April 2024 Sugar Export Data”. MDIC, 2024. Link
  • USDA Foreign Agricultural Service. “Brazil: Sugar Annual”. USDA, April 2024. Link​ (Foreign Agricultural Service)
  • Sugaronline. “Brazil: Sugar exports total 654,268 T in first 5 days of April”. Sugaronline, April 9, 2024. Link (SugarOnline)​
  • Sugaronline. “BRAZIL: Crystal sugar prices in spot market continue to rise in April”. Sugaronline, April 24, 2024. Link​ (SugarOnline)​

Sugar at TP-Exports

At TP-Exports, we deliver sugar for consumer and industrial demand globally, including refined, raw and molasses.

With our industry-focused approach, we ensure every kilogram is managed and supplied through stringent controls that maximize traceability, nutrient retention, contamination control and moisture restriction.

To learn more about our sugar products, or for more information refer to our Contact Us page.