A GLOBAL SUGAR SURPLUS OF 5.2 MILLION TONS IS EXPECTED IN 2021/22

The rising production of sugar in Thailand and India has caused the global sugar market to reach a surplus in the 2021/22 crop season, Tropical Research Services (TRS) said. TRS has projected a surplus of 5.18 million tons in gross value, up from a previous estimate of 2.07 million tons in 2020/21 (based on October to September). Global sugar production was estimated at an increase of 5%, to 191.51 million tons. The good rains recorded during August and November 2020 have contributed to productivity growth in Thailand. According to TRS, Sugar production in Thailand is expected to increase to 10.11 million tons (October to September), compared to 7.81 million tons in 2020/21. The production in India, on the other hand, was estimated at a record 35.64 million tons, over 34.28 million tons in the previous year, with above average rainfall over the past two years boosting sugarcane cultivation. Global sugar consumption, in turn, is expected to grow 1% in 2021/22, reaching 186.33 million tons, since Covid 19 vaccine will supercharge global growth, allowing full recovery by 2022.

Source: Nova Cana

*Translated by Ia Niani