The International Sugar Organization ISO predicts a sugar deficit of 9.3 million tons for 2019/20. That would be the biggest drop in eleven years. However, the March figures do not yet include the influences of the corona pandemic.
The experts assumed in May that the pandemic would consume 2.1 million tons less sugar. The expected increase in consumption could even be completely neutralized. However, there is still no more precise forecast.
In its quarterly report, the ISO assumes that world sugar production will reach 166.8 million tons this season. That would be 4.4% less than in the previous season. Sugar consumption is likely to rise to 176.1 million tons. This corresponds to an increase of 1.3%. But without the corona influence.
Source
Hansa Terminhandel GmbH
