Colombia: Sugar Annual
Link to report:
In marketing year (MY) 2023/24, Colombia’s sugar production is forecast to increase 2.2 percent to 2.35 million metric tons (MT), due to the end of "La Niña" weather phenomena and the beginning of "El Niño" weather phenomena. Although warmer weather conditions and rising international sugar prices are expected to support higher sugar production, the upward trend of input costs, primarily transportation and labor, as well as social unrest in some sugarcane planted areas, will likely prevent productivity increases in the second half of 2023 and 2024. Colombia’s economy is projected to slow in 2023, after a GDP growth of 7.5 percent in 2022, as a result of high inflation and domestic monetary policy.
