International Sugar Organization (ISO) forecasted that the global sugar deficit will be increased to 3.5 million tonnes from 724,000 tonnes estimated earlier in August.
The deficit has been projected due to the lower sugar output which is estimated at 171.1 million tonnes, lower from 173.5 million tonnes as per earlier forecast.
The sugar production estimate for Thailand has been reduced from 8.7 million tonnes to 8.2 million tonnes, for India from 31.5 million tonnes to 31 million tonnes and for the European Union from 16.8 million tonnes to 16.3 million tonnes. As per the figures from August, global sugar consumption has increased from 174.2 million tonnes to 174.6 million tonnes.
