The International Sugar Organization (ISO) today forecast a global sugar deficit of 2.55 million tons in the 2021/22 season, with lower consumption reducing the extent of an expected deficit.
In the last quarter, the intergovernmental body had forecast a global sugar deficit of 3.85 million tons for 2021/22.
In a quarterly market outlook, the ISO put global consumption for 2021/22 at 173.03 million tons, 1.44 million tons less than its previous forecast in August, although it has increased by 1.2% compared to the previous season.
"These latest figures reflected downward revisions to national government-reported consumption figures, with less tourism, regional unrest and changing consumption patterns as contributing factors," the ISO said.
Global sugar production was reduced by 185,000 tons to 170.47 million tons in 2021/22, while stocks at the end of the season were 93.25 million tons, after 96.74 million tons in the previous year.
Source
Hansa Terminhandel GmbH