EU sugar output forecast cut by S&P Global for 2023/24

London: The forecast for 2022/23 sugar output in the European Union plus the United Kingdom has been cut by 570,000 tonnes to 16.8 million by the S&P Global Commodity citing the reason for the ban on pesticides, reports Reuters.

It still expects growth of 1 million tonnes versus the 2022/23 sugar crop.

The European Court of Justice earlier this year banned the use of pesticides that are harmful to bees. This has deterred farmers from cultivating sugar beet as they fear crop damage.

In an industry note released by S&P Global which has been seen by Reuters, it has stated that the area under sugar beet cultivation in France, the EU’s major producer, is likely to shrink by 7% in 2023/24.

The area under beet plantation in the EU plus UK is likely to rise by 1%, it said.


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