Global: ISO expects 09/10 crush season sugar supply gap to narrow to 7.2 million tons
Global: ISO expects 09/10 crush season sugar supply gap to narrow to 7.2 million tons
Dow Jones news The International Sugar Organization (ISO) said on Friday that it expects the global sugar supply gap for the 09/10 crush season to narrow to 7.2 million tons, compared with 11.3 million tons in 08/09.
The ISO has reduced its gap estimate for 09/10, having previously forecast 8.4 million tons in September.
It is said that sugar production is expected to increase in Brazil and India, the world's two largest sugar-producing countries, and EU production will also rise.
The three main features of the supply side in 09/10 are limited growth in Brazil's sugar production, a moderate increase in India's sugar supply after last year's shortage, and a rise in EU production.
In addition, the global stock-to-consumption ratio for 09/10 is expected to fall to 32%, the lowest level since 1989/90, compared with 37% in 08/09.
According to the estimates, global stocks in 09/10 will decrease by 7.254 million. The continued decline in stocks will further support global sugar prices.
The ISO expects global sugar production to increase to 159.9 million tons in 09/10, compared with 153 million tons in 08/09.
Global sugar consumption in 09/10 is expected to increase to 167.1 million tons, compared with 164.3 million tons in 08/09.
The ISO has reduced its gap estimate for 09/10, having previously forecast 8.4 million tons in September.
It is said that sugar production is expected to increase in Brazil and India, the world's two largest sugar-producing countries, and EU production will also rise.
The three main features of the supply side in 09/10 are limited growth in Brazil's sugar production, a moderate increase in India's sugar supply after last year's shortage, and a rise in EU production.
In addition, the global stock-to-consumption ratio for 09/10 is expected to fall to 32%, the lowest level since 1989/90, compared with 37% in 08/09.
According to the estimates, global stocks in 09/10 will decrease by 7.254 million. The continued decline in stocks will further support global sugar prices.
The ISO expects global sugar production to increase to 159.9 million tons in 09/10, compared with 153 million tons in 08/09.
Global sugar consumption in 09/10 is expected to increase to 167.1 million tons, compared with 164.3 million tons in 08/09.