Sugar production in Venezuela is forecast to increase by 13 percent to 300,000 MT in marketing year (MY) 2023/24 due to improved access to quality inputs, a reduction in diesel shortages, and higher prices to producers. While millers in Venezuela continue to recover and prioritize imports of raw sugar for processing to supply the market, delays in payments to producers, high raw sugar prices, and a change in Maduro regime policy that is favoring imports of refined sugar is preventing a major decline in imports of refined sugar. For MY 2023/24, Post forecasts raw sugar imports at 250,000 MT and refined sugar imports at 130,000 MT. Brazil remains the top supplier of sugar exports to Venezuela.
Original source can be found here.