Larger deficit seen in global sugar supply as India boosts ethanol
The Hindu
The season will see demand surpassing production for the third consecutive year, broker StoneX said, projecting a supply deficit of 1.8 million tonnes, one million tonnes more than it estimated in October.
The world’s sugar supply balance is expected to deteriorate in the 2021-22 season that started in October due to higher use of sugarcane to and lower production in Brazil, broker StoneX said on Tuesday.
The season will see demand surpassing production for the third consecutive year, StoneX said, projecting a supply deficit of 1.8 million tonnes, one million tonnes more than it estimated in October.
Global production was seen at 186.6 million tonnes, while demand was projected at 188.4 million. The broker said demand improved recently as ocean freight prices declined. It saw higher buying from Asian countries and from refining hubs.
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