The international sugar organization (ISO) has dramatically reduced the expected global sugar surplus in 2018-2019 season marketing year.
In its quarterly report, the intergovernmental authority predicts that in 2018-2019 MG global surplus of 2.17 million tonnes of sugar compared with the August forecast of the excess of 6.75 million tons.
ISO also reduced its estimate of excess sugar in the 2017-2018 MG from 8.6 million tons to 7.28 million tons.
“Total two-year world surplus of sugar decreased by 5,892 million tons”, – says ISO, noting that the increase in global sugar production in the future is not expected.
In 2018-2019 MG global sugar production is expected to reach 180,49 million tons compared to the previous forecast in 185,22 million tons, and now the figure is expected to be below 182,7 million tonnes in the previous season.
According to the new forecast, the ISO, in Brazil, the sugar production will be reduced by 2.2 million tonnes, in India – 2 million tonnes in the EU – 750 thousand tons.
“Such a large reduction cannot be offset by a slight increase in sugar production in other countries,” – said the Association.
The international sugar organization (ISO) has dramatically reduced the expected global sugar surplus in 2018-2019 season marketing year.
In its quarterly report, the intergovernmental authority predicts that in 2018-2019 MG global surplus of 2.17 million tonnes of sugar compared with the August forecast of the excess of 6.75 million tons.
ISO also reduced its estimate of excess sugar in the 2017-2018 MG from 8.6 million tons to 7.28 million tons.
“Total two-year world surplus of sugar decreased by 5,892 million tons”, – says ISO, noting that the increase in global sugar production in the future is not expected.
In 2018-2019 MG global sugar production is expected to reach 180,49 million tons compared to the previous forecast in 185,22 million tons, and now the figure is expected to be below 182,7 million tonnes in the previous season.
According to the new forecast, the ISO, in Brazil, the sugar production will be reduced by 2.2 million tonnes, in India – 2 million tonnes in the EU – 750 thousand tons.
“Such a large reduction cannot be offset by a slight increase in sugar production in other countries,” – said the Association.
ISO also said that he sees a slight deficit of about 2 million tons of sugar “on the horizon” – in 2019-2020 MG – “who will declare the end of the surplus phase in the world sugar market”.
“The projected global surplus of sugar (2018-2019 MG) is not so great, and the combination of unpredictable and sharp reduction in the production of key players of the sugar market is likely to accelerate the onset of “phase deficit” on the world sugar market”, – concluded ISO.
