The International Sugar Organization (ISO) reduced its estimate for the global sugar deficit in the current harvest (2020/21) to 3.142 million tons, against 4.782 million tons previously projected. For the next season (2021/22), which starts in October, the organization foresees a deficit of 2.674 million tons, although it emphasizes that there is a lot of uncertainty, especially regarding production. The prospect of a slightly less restricted supply reflects ISO’s estimate of slightly higher production in South-Central Brazil, where the organization expects mills to direct more cane towards sugar production than to ethanol. It is estimated that global production will reach 169.235 million tons in this harvest. The ISO also lowered its forecast for global sugar demand this season because of new waves of coronavirus infection in Brazil and India. It is estimated that world consumption will be at 172.377 million tons this season.
Sources: Valor Econômico/Datamar News