The area planted in sugar beets in MY 2023/24 is forecast marginally higher as some farmers will likely switch to growing beets in hopes of better returns. Despite this increase in acreage, beet sugar production is projected to remain flat year-to-year at 3 million metric tons because of drought conditions. While the recent wet weather is encouraging, beet farmers are still concerned about drought and the availability of irrigation water since nearly all the crop is irrigated. While planting is underway, the government has still not announced the beet sugar production quota for MY 2023/24. For reference, the quota current marketing year (MY 2022/23) is about 2.8 million metric tons. Meantime, sugar imports in MY 2023/24 are expected to remain at 500,000 metric tons to help fuel the confectionary industry’s export business.
Original source can be found here.