This episode delivers a comprehensive overview of the shifting dynamics in the global sugar market.

• In Thailand, a government-imposed price cut is pushing sugarcane producers toward alternative crops, particularly cassava, which benefits from stronger prices and less import competition. Sugarcane prices are expected to fall by 22% in the 2025–26 season, prompting this shift. Despite the change, sugar output may initially rise by 6%, though a subsequent 7.5% drop is projected due to reduced cultivation.
• India's sugar production has surged 43% year over year, reaching a projected 31 million metric tons as ethanol diversion declines. The government has set an export quota of 1.5 million metric tons despite concerns of a global surplus. Favorable monsoon rains have further boosted crop yields.
• Brazil is on track to produce 45 million metric tons of sugar in the 2025–26 season, with an 8.7% increase in the Center South region attributed to better harvesting efficiency and favorable weather. A weakening Brazilian real continues to enhance the competitiveness of exports, adding pressure to global sugar prices.
• In the European Union, sugar beet cultivation is set to decline by nearly 10% in Germany and the UK, driven by high input costs and falling prices. This trend mirrors the previous season and may lead to factory closures if it persists.
• China anticipates increased sugar production, rising to 11.5 million metric tons due to expanded cultivation. Consumption is expected to hold steady at 15.8 million metric tons, with low global prices potentially increasing import volumes. The government remains vigilant on sugar syrup imports to stabilize domestic markets.
• Australia's sugar industry is grappling with its lowest price levels in five years. In response, the sector is calling for a pivot to biofuels and bioenergy, supported by proposed government initiatives such as capital grants, feasibility studies, and infrastructure investment.