In marketing year (MY)2023/2024, Guatemala is forecast to produce 2.6 million metric tons of sugar from sugarcane from a harvested area of 251,000 hectares. Planted areas slowly recover as prices increase in the international markets. Domestic prices increased 15 percent compared to pre-pandemic prices and started 6 percent higher in the first months of 2023 compared to the same period in 2022. Stocks in MY2023/2024 are forecast at 217,000 MT. Domestic consumption for MY2022/2023 has been revised up to 960,000 MT and is forecast at 970,000 MT in MY2023/2024 as the food and beverages industry grows at 23 percent annual rate.
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