Sri Lanka: Domestic sugar production decrease by 6.9 per cent
The Central Bank of Sri Lanka’s August 2024 Agriculture Data Bulletin reveals key trends: Paddy production for the 2024 Yala season is forecasted at 1.77 million metric tons, a 2.6% decrease from the previous year. Domestic sugar production dropped by 6.9% in July, while global sugar prices rose due to lower production in Brazil despite improved conditions elsewhere.
The Central Bank of Sri Lanka (CBSL) has released its Agriculture Data Bulletin for August 2024, offering a detailed overview of the country’s agricultural sector, reported News First.
The report provides essential statistics and trends to understand the current state and future outlook of agriculture in Sri Lanka.
Paddy production for the 2024 Yala season is projected to be 1.77 million metric tons, marking a 2.6% decrease compared to the previous Yala season.
Domestic sugar production decreased by 6.9% during the month, while global sugar prices continued to rise.
In July 2024, global sugar prices increased for the second month in a row. This rise was largely due to lower-than-expected production in Brazil during the first half of the month, which overshadowed the downward pressure from improved monsoon rains in India and favorable weather conditions in Thailand.
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Source Link : https://www.chinimandi.com/sri-lanka-domestic-sugar-production-decrease-by-6-9-per-cent/
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