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Gro Intelligence works with food and beverage companies to mitigate climate-related supply chain risk and help procurement teams buy at better prices.

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Incorporate growing conditions for any region, weighted by a specific crop, into your sourcing decisions.

Forecast crop availability such as corn, soy, or wheat for regions around the world by monitoring Gro's daily updating yield estimates.

Monitor drought in key regions for early warning signs of how drought may impact crop production, supplies, and prices.

Identify the portions of the globe that are the best suited to growing a given crop. 

Efficiently monitor potential risks to the supply of your key ingredients

Monitor soy, corn, or wheat ending stocks to predict price moves.

Understand food inflation in the US six weeks ahead of official government reports.

Gauge tightness of available crop supplies and how that might impact price.

Monitor current and forward cash price of wheat, corn, and soybeans for a specific US facility.

Forecast price drivers to improve your purchasing decisions

Features built for easy integration into your workflow.

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The US Supreme Court’s backing late last week for California’s Proposition 12 animal welfare rule looks set to restrict pork and pork product supplies in the state beginning in 2024, while potentially bloating supplies and depressing prices in the rest of the country.The California law, which mandates increased space requirements for sows giving birth, is set to take effect July 1, unless the state changes the timeline. That effectively will require pork sold in California be compliant with the new regulation as of January 1, 2024, given the time it takes for the piglets to grow to market weight.&nbsp;California accounts for about 15% of the country’s pork consumption, while less than 5% of the US pork supply is currently compliant with the state’s new regulation. The 10% difference, representing excess pork supplies that would be barred from California, could need to be added to market supplies outside of the state, further squeezing the industry’s already tight profit margins.The US hog industry already has scaled back operations — and further cuts to herd sizes are planned — in anticipation of the new California restrictions and in response to soft consumer demand. Pork processors for the most part have indicated they aren’t willing to pay to retool their barns to comply with the California law without evidence that consumers will accept paying higher meat costs.&nbsp;View&nbsp;<a href="https://app.gro-intelligence.com/displays/a9MQlZA9M" target="_blank" rel="noopener noreferrer">this Gro display</a> showing US hog inventories and locations, as well as farrowing and slaughter rates.&nbsp;Smithfield Foods, the largest US player, phased out its only California pork processing plant over the past two years, citing the high costs of operating in the state. Last week, Smithfield announced it was closing more than 30 sow operations around the country, again citing competitive costs.&nbsp;Other hog producers also are cutting back. The USDA’s latest Quarterly Hogs and Pigs report, released in March, showed the US breeding herd is at the lowest level since 2017. Farrowing intentions for the remainder of 2023 — or producers’ plans to raise new piglets — showed a 3% decline, which would drop farrowing rates to the lowest level since 2015.Even those cutbacks may not be enough to offset excess supplies currently sold in California, and further industry reductions could be forthcoming. Not all pork products will be affected by the California law — hot dogs and sausage, for example, are exempt. But bacon shortages are widely expected in the state beginning in 2024.&nbsp;Adding to the uncertain industry outlook — many questions remain outstanding about the new California law, which first passed in 2018 and has long been delayed. For one thing, it’s unclear if California will bar noncompliant product from entering the state or impose a fine. How the state will enforce the law also hasn’t been made clear, leading to speculation that clandestine sales of noncompliant meat could proliferate.&nbsp;

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California Law Has US Pork Industry Bracing for Excess Supplies

Price spreads between palm oil and soybean oil are particularly wide on a historical basis, despite a sharp narrowing since the start of the year. But spreads between the two biggest vegetable oils’ prices, which many food companies consider when making buying decisions, could return to still wider levels as 2023 advances.&nbsp;The relative prices of palm and soybean oils, the two most widely consumed edible oils, are important to food manufacturers because they are often able to use the oils interchangeably as recipe ingredients. The price relationship also is watched by financial firms, which might use the spread as a trading signal.&nbsp;Currently, the price spread between soybean oil and palm oil is about US$431 per tonne, meaning that a tonne of soybean oil costs $431 more than the same amount of palm oil. While that’s down sharply from more than $700/tonne in late 2022, the current spread is still well above the average for the past two years of US$343/tonne. Historically, soybean oil has typically traded at a premium of $100-$150/tonne to palm oil. (See graph below.)&nbsp;<figure class="image"><img src="https://res.cloudinary.com/gro-intelligence/image/upload/v1677865180/new-website/Palm_Oil_vs_Soybean_Oil_Prices_661b13307e.png"><figcaption>Price spreads between palm and soybean oil, shown by the red bars, have narrowed from a peak reached in late 2022, but spreads remain wide on a historical basis. Palm oil prices are shown with the blue line and soybean oil prices are in green.</figcaption></figure>Driving the price-spread volatility has been the diverging supply/demand picture for the two edible oils. Palm oil prices have slumped in the past year, and they are likely to remain under pressure in the coming months as <a href="https://app.gro-intelligence.com/displays/NdVMw6j9v" target="_blank" rel="noopener noreferrer">palm oil production</a> in Indonesia and Malaysia is expected to accelerate in the wake of La Niña’s departure, as Gro wrote about <a href="https://gro-intelligence.com/insights/as-la-nina-exits-palm-oil-production-could-rise-in-2023-but-drop-in-2024" target="_blank" rel="noopener noreferrer">here</a>.&nbsp;In contrast, soybean oil prices have remained stubbornly high. Supplies are likely to <a href="https://gro-intelligence.com/insights/brazil-soybeans-to-offset-argentina-s-frazzled-crop-gro-models-show" target="_blank" rel="noopener noreferrer">stay under pressure</a> due to severe drought in Argentina, the No. 1 exporter of soybean oil. And soybean oil’s growing use as a feedstock in manufacturing renewable diesel is expected to underpin demand — a trend that has caused soybean oil to increasingly trade roughly in parallel with crude oil prices.Price spreads also can influence trade flows. China, for example, ramped up palm oil imports in late 2022 at a time when palm oil prices were trading at a deep discount to soybean oil, as shown in <a href="https://app.gro-intelligence.com/displays/B7qb1vYdX" target="_blank" rel="noopener noreferrer">this Gro display</a>. While Chinese palm imports so far in 2023 have been muted, the current sharp price spread between the two edible oils — in addition to tight supplies of sunflower and rapeseed oils due to the Russia-Ukraine war — could encourage China to accelerate palm oil imports.&nbsp;Another possible outcome is that China could step up purchases of soybeans from Brazil to refine into soybean oil inside China, especially with domestic soyoil prices sharply above those of palm, as seen in <a href="https://app.gro-intelligence.com/displays/3d57ZLLR0" target="_blank" rel="noopener noreferrer">this Gro display</a>. Brazil, which is headed for a bumper soybean crop, as shown by <a href="https://app.gro-intelligence.com/displays/wRLeMvw9p" target="_blank" rel="noopener noreferrer">Gro’s Brazil Soybean Monitor</a>, is the No. 1 exporter of soybeans to China and to the world.&nbsp;&nbsp;

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Palm vs Soy Oil Price Disparity Likely to Increase in 2023

India’s sugar crop is poised for another <a href="https://app.gro-intelligence.com/displays/4dg77w7do">bumper year</a>, thanks to above average monsoon rains in Maharashtra, the country's second largest sugar producing state. This is good news as India’s strong crop could help address shortfalls in Brazil and Europe, sugar-producing regions that experienced challenging growing seasons this year.&nbsp;Against this backdrop, higher sugar production out of India, the world’s second largest producer,&nbsp; will impact both local and global prices, ahead of the country’s 2022/23 sugar export policy statement, which is expected this week.&nbsp;Currently, <a href="https://hub.gro-intelligence.com/plot-region/agriculture/11193,Maharashtra$%7B%22checked%22%3A%5B%22Sugarcane%22%5D%2C%22method%22%3A%22sum%22%7D_1?0,World:12,Asia:1094,India:11193,Maharashtra">Gro’s Climate Risk Navigator for Agriculture</a>, aggregated to Maharashtra’s sugarcane-growing areas, shows that accumulated rainfall, between June 1 and September 19, was 33% above the 10-year average. When comparable amounts of rainfall fell in the state in 2013/14, <a href="https://app.gro-intelligence.com/displays/Vq6YAbmdW">Maharashtra’s production</a> rose 11.4% versus the year prior and India’s total sugarcane production increased 7.3%. In 2010/11, comparable monsoon rains led to a 33.6% jump in production in Maharashtra. Overall Indian sugar production rose 16.9% that year.&nbsp;&nbsp;A previous Gro <a href="https://gro-intelligence.com/insights/indias-monsoon-a-better-way-to-assess-its-impact">analysis</a> shows that sugarcane production in Maharashtra is very closely linked to India’s monsoon rains. India’s top sugar producing state Uttar Pradesh, where the crop’s success is not linked to monsoon rains, has seen relatively steady sugarcane production for the past 20 years.India’s expected uptick in production comes as a second year of record drought threatens to cause another short crop in Brazil, the world’s largest producer and exporter. Brazil’s <a href="https://app.gro-intelligence.com/displays/jdOEeo0Rw">center south region sugarcane production</a> is currently down 11% versus 2021/22. Top sugar producing state of São Paulo state, which produces more than half of Brazil’s total sugarcane, has experienced severe levels of drought since early 2020, according to <a href="https://hub.gro-intelligence.com/plot-region/agriculture/10408,S%C3%A3o%20Paulo$%7B%22checked%22%3A%5B%22Sugarcane%22%5D%2C%22method%22%3A%22sum%22%7D_0?0,World:16,South%20America:1029,Brazil:10408,S%C3%A3o%20Paulo">Gro’s Climate Risk Navigator</a>.&nbsp;Additionally, this summer's hot and dry weather in Europe, the <a href="https://app.gro-intelligence.com/displays/7qb7VJkRX">world's third-largest sugar producer</a>, caused smaller sugar beet yields and lower sugar production, meaning that Europe will require more sugar imports than usual.&nbsp;In May, as India was grappling with high <a href="https://app.gro-intelligence.com/displays/kqzOOPNRW">domestic sugar prices</a>, the Indian government capped sugar exports to <a href="https://gro-intelligence.com/insights/india-caps-sugar-exports-to-control-rising-domestic-prices">10 million tonnes</a>, but later allowed another 1.2 million tonnes to help the country’s sugar mills from defaulting on export contracts. This took the total export quota for the 2021/22 marketing year to 11.2 million tonnes. India's sugar exports stood at 7.0 million tonnes in 2020/21, 5.9 in 2019/20 and 3.8 in 2018/19.Throughout this year India has instituted numerous protectionist measures to curb inflation from multi-year highs. Most recently, it banned broken rice exports, while also placing a duty on other rice varieties as Gro highlighted <a href="https://gro-intelligence.com/insights/india-levies-an-export-duty-on-rice">here</a>. <a href="https://gro-intelligence.com/insights/india-wheat-export-ban-risks-inflaming-food-insecurity-worldwide">Wheat exports</a> were curbed back in May followed by <a href="https://gro-intelligence.com/insights/india-bans-exports-of-wheat-flour-in-latest-move-to-stem-rising-food-prices">wheat flour</a> in late August. The country has also allowed duty-free imports of soybean oil and sunflower oil.&nbsp;

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India’s Sugar Crop on Track for Another Strong Year 

Indonesia is taking additional steps to increase palm oil exports by temporarily removing export levies. The move, aimed at reducing bloated domestic inventories, comes less than two weeks after the government increased its quotas on palm oil export volumes.&nbsp;Relaxed export restrictions by the <a href="https://app.gro-intelligence.com/displays/NdVMw6j9v" target="_blank" rel="noopener noreferrer">world's biggest palm oil producer and exporter</a> will further weigh on global prices for palm and other <a href="https://app.gro-intelligence.com/displays/V9NBojk9b" target="_blank" rel="noopener noreferrer">vegetable oils</a>. Palm oil prices are currently down nearly 50% from their April peak, but are still up about 44% from two years ago.&nbsp;That’s welcome news for consumers and food companies. Gro’s US Vegetable Oil Price Index, part of the <a href="https://hub.gro-intelligence.com/custom-price-indices/" target="_blank" rel="noopener noreferrer">Gro Custom Price Index Application</a>, shows that in the US, a basket of vegetable oils commonly used by food manufacturers is up by high single digits from a year ago. That decline, which has been aided by a selloff in crude oil, represents a sharp deceleration from June 2022, when the index was up more than 40% year over year.&nbsp;Tumbling vegetable oil prices have contributed to an overall easing of food price inflation. <a href="https://app.gro-intelligence.com/displays/WdK1QrbRK" target="_blank" rel="noopener noreferrer">Gro’s US Food Price Index</a>, which reflects prices based on consumption of a wide range of food items, has declined in each of the past two months after hitting an all-time peak in May.<figure class="image image_resized" style="width:100%;"><img src="https://res.cloudinary.com/gro-intelligence/image/upload/v1658265407/new-website/year_on_year_change_1182b3bfc0.png"><figcaption>Tumbling vegetable oil prices have helped put the brakes on food price inflation. This chart from Gro’s Custom Price Index application shows a sharp slowdown in year-over-year price gains for a basket of vegetable oils commonly used by US food manufacturers.</figcaption></figure>Palm oil is the most widely consumed of all edible oils, and its price has a big impact on the cost of rivals like soybean oil.Indonesian palm oil producers have been struggling with high inventories and weak domestic prices since the country banned exports for three weeks, ending in mid-May, in an effort to control rising domestic prices for palm-based cooking oil. The elevated inventory comes as both Indonesia and <a href="https://app.gro-intelligence.com/displays/2daENxVdn" target="_blank" rel="noopener noreferrer">Malaysia</a>, the second-largest palm oil producer, begin to ramp up their harvests ahead of the seasonal peak in October/November.&nbsp;&nbsp;Indonesia’s push to boost exports has dampened sales for Malaysia, where <a href="https://app.gro-intelligence.com/displays/p9Blb6MqM" target="_blank" rel="noopener noreferrer">crude palm oil inventories</a> rose 6.2% in June from the previous month. In addition, traditional buyers, including China and India, have sharply scaled back palm oil purchases from Malaysia this year amid high prices; in the first half of 2022, shipments to China were down 24% and to India were down 11%, compared with a year earlier, according to the Malaysia palm oil board.&nbsp;Palm oil prices might still need to fall further to attract buying interest from China and India, the two biggest importers. China continues to show negative import margins for discretionary imports of palm oil, due in part to the higher US dollar. India, meanwhile, has adequate domestic inventories for now.&nbsp;Indonesia’s latest export push cut crude palm oil export levies to zero from $200 a tonne from July 15 to August 31, 2022. A progressive palm oil export levy will be applied beginning September 1, with the rate set between $55 and $240 per tonne, depending on prices.&nbsp;How to Monitor Food Price Inflation Using Gro:&nbsp;<a href="https://app.gro-intelligence.com/displays/WdK1QrbRK" target="_blank" rel="noopener noreferrer">Gro’s US Food Price Index</a> reflects prices based on consumption of a wide range of food items and can be customized and weighted for Gro users based on their commodities of interest. The index provides an inflation estimate for the current month, which is up to six weeks ahead of when official inflation data becomes available from governments.<a href="https://gro-intelligence.com/applications/custom-price-index-application" target="_blank" rel="noopener noreferrer">Gro’s Custom Price Index Application</a> lets a user create a price index based on a food product’s key ingredients and weightings data, enabling more effective input cost management practices.&nbsp; &nbsp;

Indonesia Takes New Steps to Increase Palm Oil Exports

Canada’s increased area planted to oats should replenish global supplies of the grain a year after a crippling drought sent the country’s oat stocks to their lowest level in more than half a century. Canada’s oat production, the world’s largest, drives global oats trade, and most of the oats that US food manufacturers use for cereals and alternative dairy products are imported from Canada.&nbsp;Canadian farmers planted 16% more acres to oats this year than a year earlier. That, coupled with improved growing conditions, should result in a much bigger harvest. The USDA has forecast Canadian oat production will increase year over year by 76% to 4.6 million tonnes.&nbsp;Canada’s Prairie provinces of Saskatchewan, Manitoba, and Alberta grow the bulk of the country’s oat crop. View a display from the Gro Portal of Canada’s oat production, planted area, and stocks <a href="https://app.gro-intelligence.com/displays/pd4ZE7QRj" target="_blank" rel="noopener noreferrer">here</a>.&nbsp;Canada’s oat crop got off to a slow start due to cold, wet weather, but growing conditions have improved. Gro’s vegetative health index, weighted for Canadian acres planted to oats, has moved higher in recent weeks. And soil moisture levels, near a decade high, are favorable for the water-tolerant oat plants.&nbsp;Gro’s vegetative health index, along with other measures of growing conditions, can be weighted for specific crops worldwide, including oats, using Gro’s Climate Risk Navigator for Agriculture. View a Navigator display for Canadian oats <a href="https://hub.gro-intelligence.com/plot-region/agriculture/1037,Canada$%7B%22checked%22%3A%5B%22STATCAN%20Oats%20(Canada%20Only)%22%5D%2C%22method%22%3A%22sum%22%7D_0?0,World:15,North%20America:1037,Canada" target="_blank" rel="noopener noreferrer">here</a> or schedule a demo with our sales team <a href="https://info.gro-intelligence.com/schedule-a-demo" target="_blank" rel="noopener noreferrer">here</a> to learn how Climate Risk Navigator can be tailored to your organization’s needs.<figure class="image"><img src="https://res.cloudinary.com/gro-intelligence/image/upload/v1657313359/new-website/Daily_Soil_Moisture_for_Canada_s_Oats_Planted_Area_1_561e90d4a9.png"><figcaption>&nbsp;Improved soil moisture levels for Canada’s oat crop (blue line) bode well for a big jump in production this year, as seen in this display from Gro’s Climate Risk Navigator for Agriculture.</figcaption></figure>For US food producers with oat-based products, a robust Canadian crop would be a boon, as imported Canadian oats typically represent about half of total US supply. Prospects for the US crop are less promising. US oat-planted area is down by 6% year over year to the lowest level in a decade. And severe drought in Texas is weighing on the harvest in the biggest oat-producing state. Other oat-growing states, mainly in the northern Plains, are faring better, with crop conditions at or above historical averages.&nbsp;Gro’s vegetative health index, weighted for US acres planted to oats, is at the lowest level in nearly a decade, as can be seen in this <a href="https://hub.gro-intelligence.com/plot-region/agriculture/1215,United%20States$%7B%22checked%22%3A%5B%22NASS%20Oats%20(US%20only)%22%5D%2C%22method%22%3A%22sum%22%7D_0?0,World:15,North%20America:1215,United%20States" target="_blank" rel="noopener noreferrer">Gro Climate Risk Navigator display</a>. And view a display from the Gro Portal of US oat production, yield, planted area, and stocks <a href="https://app.gro-intelligence.com/displays/Vq61JLkdW" target="_blank" rel="noopener noreferrer">here</a>.&nbsp;<a href="https://app.gro-intelligence.com/displays/pd3r63A9o" target="_blank" rel="noopener noreferrer">Oat futures prices</a> have dropped sharply in recent weeks amid a widespread selloff of agricultural commodities, and as prospects brighten for the Canadian oat crop.What to Follow Next:&nbsp;<a href="https://gro-intelligence.com/applications/climate-risk-navigator-for-agriculture" target="_blank" rel="noopener noreferrer">Gro’s Climate Risk Navigator for Agriculture</a> displays real-time updates of growing conditions that can be weighted for specific crops worldwide, including <a href="https://hub.gro-intelligence.com/plot-region/agriculture/1037,Canada$%7B%22checked%22%3A%5B%22STATCAN%20Oats%20(Canada%20Only)%22%5D%2C%22method%22%3A%22sum%22%7D_0?0,World:15,North%20America:1037,Canada" target="_blank" rel="noopener noreferrer">Canadian oats</a> and <a href="https://hub.gro-intelligence.com/plot-region/agriculture/1215,United%20States$%7B%22checked%22%3A%5B%22NASS%20Oats%20(US%20only)%22%5D%2C%22method%22%3A%22sum%22%7D_0?0,World:15,North%20America:1215,United%20States" target="_blank" rel="noopener noreferrer">US oats</a>.&nbsp;Related Insights:&nbsp;<a href="https://gro-intelligence.com/insights/ag-futures-sink-on-recession-fears-despite-fundamentals" target="_blank" rel="noopener noreferrer">Ag Futures Sink on Recession Fears, Despite Fundamentals</a><a href="https://gro-intelligence.com/insights/hot-and-dry-weather-tees-up-a-tense-july-in-the-us-corn-belt" target="_blank" rel="noopener noreferrer">Hot and Dry Weather Tees Up a Tense July in the US Corn Belt</a><a href="https://gro-intelligence.com/insights/soggy-spring-could-put-already-reduced-canola-acres-at-greater-risk" target="_blank" rel="noopener noreferrer">Soggy Spring Could Put Already-Reduced Canola Acres At Greater Risk</a> &nbsp;

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Canadian Oats’ Robust Outlook Holds Promise for US Cereal, Oat Milk Makers

Palm oil futures prices are down sharply following Indonesia’s announcement that it would increase exports in the hopes of reducing swollen domestic inventories.&nbsp;The September palm oil contract dropped as much as 10% in Wednesday trading on the Bursa Malaysia Derivatives Exchange before closing down 2.7%. The contract has fallen 14% since Indonesia, the <a href="https://app.gro-intelligence.com/displays/NdVMw6j9v" target="_blank" rel="noopener noreferrer">world’s biggest producer and exporter of palm oil</a>, announced the new export quota over the weekend.&nbsp;The price declines continue palm oil’s recent slide — futures prices on the Malaysia exchange are down 39% from April’s record high. Palm oil’s drop also comes at a time when futures prices for a host of commodities, including wheat, corn, and soybeans, as well as crude oil, are also trading well off their highs.&nbsp;&nbsp;Lower prices for vegetable oils, of which palm oil is the most widely consumed worldwide, could help tame food price inflation. <a href="https://hub.gro-intelligence.com/custom-price-indices/" target="_blank" rel="noopener noreferrer">Gro’s Custom Price Index Application</a> shows that in the US, a basket of vegetable oils commonly used by food manufacturers is currently down by double digits from an all-time high posted in May. Vegetable oils also are used for cooking and increasingly as feedstock in producing biofuels.&nbsp;<figure class="image"><img src="https://res.cloudinary.com/gro-intelligence/image/upload/v1657142750/new-website/US_Vegetable_Oil_Price_Index_30764f0c41.png"><figcaption>Gro’s US Vegetable Oil Price Index shows that a basket of vegetable oils commonly used by food manufacturers is currently down by double digits from an all-time high posted in May.</figcaption></figure>Retreating palm oil prices could increase demand from India and China, the top vegetable oil importing countries. In China, palm oil import margins are approaching parity with domestic cash prices, which could attract Chinese buying interest, especially if global palm oil prices continue to fall. In India, vegetable oil import quotas for the time being are giving an advantage to domestic producers.&nbsp;Additional Resources on Vegetable Oils:&nbsp;<a href="https://hub.gro-intelligence.com/custom-price-indices/" target="_blank" rel="noopener noreferrer">Gro’s US Vegetable Oil Price Index</a>, part of Gro’s Custom Price Index Application, tracks the cost of a basket of vegetable oils commonly used by food manufacturers.&nbsp;<a href="https://info.gro-intelligence.com/russia-ukraine-war-vegetable-oil-prices" target="_blank" rel="noopener noreferrer">(Whitepaper) Fuel for the Fire: The Russia-Ukraine War and Vegetable Oil Prices</a><a href="https://gro-intelligence.com/insights/indonesia-lifts-palm-oil-export-ban-easing-global-supply-worries-and-prices" target="_blank" rel="noopener noreferrer">Indonesia Lifts Palm Oil Export Ban, Easing Global Supply Worries and Prices</a><a href="https://gro-intelligence.com/insights/indonesia-palm-oil-export-ban-will-be-short-lived-here-s-why-1" target="_blank" rel="noopener noreferrer">Indonesia Palm Oil Export Ban Will Be Short-Lived – Here's Why</a>&nbsp;

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Palm Oil Prices Retreat as Indonesia Pumps Up Exports

India said it will restrict sugar exports to safeguard against further price increases at home. The move comes just over a week after the government put a halt to most <a href="https://gro-intelligence.com/insights/india-wheat-export-ban-risks-inflaming-food-insecurity-worldwide" target="_blank" rel="noopener noreferrer">wheat exports</a> to control rising domestic prices.&nbsp;The restrictions will limit sugar exports to 10 million tonnes for the current marketing year, which ends in September. India’s sugar exports accelerated earlier this year, hitting 4.9 million tonnes in the October-February period, nearly double year-earlier levels, following the country’s <a href="https://app.gro-intelligence.com/displays/kqzOOeWRW" target="_blank" rel="noopener noreferrer">biggest-ever crop</a>. By contrast, top producer<a href="https://app.gro-intelligence.com/displays/Vq6YYGpdW" target="_blank" rel="noopener noreferrer"> Brazil’s harvest</a> fell by double-digits, and Thailand’s latest crop, while improved, followed two consecutive years of low production.&nbsp;India is the <a href="https://app.gro-intelligence.com/displays/ZRlBBpAdB" target="_blank" rel="noopener noreferrer">largest sugar consumer</a> in the world, and maintaining adequate supplies — the country holds about one-third of <a href="https://app.gro-intelligence.com/displays/3dX00jgd5" target="_blank" rel="noopener noreferrer">global sugar stocks</a> — and keeping prices in check are high priorities. Indian <a href="https://app.gro-intelligence.com/displays/kqzOOPNRW" target="_blank" rel="noopener noreferrer">domestic sugar prices</a> have risen 3% since January. Global sugar prices have gained even more — ICE sugar futures are up 7.5% year to date and are up 24% from a year ago.&nbsp;In April, the Indian Meteorological Department released its first long-range forecast for the 2022 southwest monsoonal season (June-September), forecasting normal rainfall. The sugar industry is hopeful of another bumper harvest next season.Depending upon the variety and sowing time it takes about 12 to 18 months for sugarcane to mature. Generally, January to March is the <a href="https://app.gro-intelligence.com/displays/LRy44Dyq3" target="_blank" rel="noopener noreferrer">period of sowing</a> and December to March is the period of harvesting. After harvest, a ratoon crop is cultivated from the regrowth.&nbsp;-Related Insights&nbsp;<a href="https://gro-intelligence.com/webinars/2022-risks-across-cocoa-sugar-and-coffee-global-growing-conditions-and-climate" target="_blank" rel="noopener noreferrer">(Webinar) 2022 Risks Across Cocoa, Sugar, and Coffee: Global Growing Conditions and Climate</a><a href="https://gro-intelligence.com/insights/cocoa-harvest-outlook-improves-as-rains-ease-drought-conditions" target="_blank" rel="noopener noreferrer">Cocoa Harvest Outlook Improves as Rains Ease Drought Conditions</a><a href="https://gro-intelligence.com/insights/brazil-sugar-production-headed-for-another-drop" target="_blank" rel="noopener noreferrer">Brazil Sugar Production Headed for Another Drop</a><a href="https://gro-intelligence.com/insights/sugar-prices-could-rise-if-brazil-tilts-to-greater-ethanol-production" target="_blank" rel="noopener noreferrer">Sugar Prices Could Rise if Brazil Tilts to Greater Ethanol Production</a> &nbsp;

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